Musk Sells $8.4 Billion Tesla Shares To Fund The Deal
Musk sold about 9.6 million shares in Tesla, worth around $8.4 billion, as he seeks to line up the financing for his takeover bid ofTwitter. Tesla’s share price fell about 12 percent earliar in the week, But has since edged up about3.5 percent.
$44 Billion Is The Amount Which Needed To Buy Twitter
That was first that, On 25th April, Twitter’s board of directors accepted Musk’s proposal of $54.2 per share, or $44 billion, for total control of company. But it was the same prise that he was offered on 14th April. Now Elon Musk the owner of the Twitter is become happy to have the deal in his previous offer. Upon completion of the transaction, Twitter will become a private company.
Why Elon Musk Bought Twitter?
Elon Musk bought twitter for forty-four billion dollars. Musk, the C.E.O. of Tesla and the richest man on earth, plans to take the social-media company private, and has said that he wants Twitter to adhere more closely to the principles of free speech, which, in a statement, Musk called “the bedrock of a functioning democracy.” (In the same statement, he described Twitter as the “digital town square where matters vital to the future of humanity are debated.”) Musk himself is a frequent tweeter, and it is assumed that he will continue to use the platform, and potentially reinstate the account of former President Donald Trump. He is also thought to be less likely to ban people for violations of the platform’s policies, which themselves may change.
How Did The Camistry Between Musk & Teitter Began?
On April 4th, 2022, Elon Musk announced that he had purchased 9.1 percent of Twitter. The news that the world’s richest man was now (briefly) the largest shareholder in his preferred social media platform sent the stock price soaring and many a keyboard a-typing.
Musk immediately set about soliciting suggestions about ways to improve Twitter by — what else — tweeting a poll. The company responded by offering him a board seat, a move that would have restricted him to owning just 15 percent of the company. At first, he said yes. Then he changed his mind and said no. Meanwhile, our resident Twitter and Musk experts, Casey Newton and Liz Lopatto, respectively, dug deeper into why Musk was flirting with Twitter and what the likely outcomes would be.
Musk immediately set about soliciting suggestions about ways to improve Twitter by — what else — tweeting a poll. The company responded by offering him a board seat, a move that would have restricted him to owning just 15 percent of the company. At first, he said yes. Then he changed his mind and said no. Meanwhile, our resident Twitter and Musk experts, Casey Newton and Liz Lopatto, respectively, dug deeper into why Musk was flirting with Twitter and what the likely outcomes would be.
Twitter One Track To Reach Deal With Musk
Twitter is in the final stretch of negotiations with Musk report Bloomberg.Multiple outlets are reporting that Twitter’s board was considering Musk’s funded offer over the weekend, The Daily Times saying the companie’s 11 members were negotiating with Musk into the morning on the next day. Twitter is schediuled report earning on Thirs day by which time the company is expected to have weight in one musk’s bid.
So Musk can brought his smiling face to have his fevourite social sit’s ownership….
So Musk can brought his smiling face to have his fevourite social sit’s ownership….
