Page semi-protected

Acquisition of Twitter by Elon Musk

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search

Elon Musk in 2015
This article is part of
a series about
Elon Musk
Companies
Related

On April 14, 2022, business magnate Elon Musk proposed to purchase social media company Twitter, Inc. for $43 billion, after previously acquiring 9.1 percent of the company's stock for $2.64 billion, becoming its largest shareholder. Twitter had then invited Musk to join their board of directors, which Musk accepted before changing his mind. In response to Musk's proposal, Twitter announced a "poison pill" strategy the next day to allow shareholders to purchase additional stock in the event a buyout should occur. On April 25, Twitter's board of directors unanimously accepted Musk's buyout offer of $44 billion, which would make him the company's sole owner. As of April 2022, the acquisition is pending approval from regulators and shareholders.

Prelude

Background

See also: Elon Musk § Twitter

Elon Musk published his first tweet on his personal Twitter account in June 2010,[1] and had more than 80 million followers at the time of the purchase.[2] In 2017, in response to a tweet suggesting Musk buy Twitter, he replied, "How much is it?"[3] On March 20, 2022, the Twitter account of Christian conservative satire website The Babylon Bee was suspended for referring to U.S. Assistant Secretary for Health Rachel Levine, a transgender woman, as their "Man of The Year", which Twitter stated violated its policy on "hateful conduct".[4] The Babylon Bee refused to delete the tweet in order to regain access to the account, and Twitter rejected their appeal.[5][6] According to Babylon Bee CEO Seth Dillon, the website was contacted by Musk shortly after the suspension to confirm whether they had been suspended, who mused that he "might need to buy Twitter".[7] On March 24, Musk began tweeting statements critical of Twitter,[8] polling his followers on whether Twitter adhered to the principle that "free speech is essential to a functioning democracy".[9]

Early developments

Musk had begun to buy Twitter shares on January 31, 2022.[8] On April 4, Musk announced that he had acquired 9.1 percent of Twitter's stock for $2.64 billion on March 14,[10] making him the company's largest shareholder.[11] Following the announcement, Twitter's stock experienced its largest intraday surge since the company's initial public offering (IPO) in 2013, rising by as much as 27 percent.[12] On April 5, Twitter invited Musk to join the company's board of directors,[13] which Musk accepted.[14] The position would have prohibited Musk from going beyond a 14.9 percent ownership stake.[15] Four days later, before Musk's appointment was set to take effect, Musk reversed his decision to join the board after publishing several tweets critical of the company.[16]

Buyout

Takeover bid

On April 14, Musk made an unsolicited and non-binding offer to purchase the company for $43 billion, or $54.20 per share, and take it private.[17] The bid was described as a hostile takeover attempt,[18][19] with the company responding that the board would "carefully review the proposal to determine the course of action that it believes is in the best interest of the Company and all Twitter stockholders".[20] In a TED interview, Musk stated that he believed in the company's "potential to be the platform for free speech around the globe", calling free speech a "societal imperative for a functioning democracy" and insisting that he had not made the offer to increase his wealth.[21][22] According to critics, however, he showed little interest in fighting government censorship around the world, saying that "Twitter should match the laws of the country", instead showing most concern at Twitter's moderation policies.[23] The price of $54.20 per share is believed to be a reference to 420, a slang term in cannabis culture for marijuana consumption.[24]

On April 15, Twitter's board of directors announced a "poison pill" strategy, which would allow shareholders to purchase additional stock in the event a hostile takeover should occur; the plan will expire on April 14, 2023.[25] On April 20, Musk disclosed that he had secured financing provided by a group of banks led by Morgan Stanley, Bank of America, Barclays, MUFG, Société Générale, Mizuho Bank, and BNP Paribas, for a potential tender offer to acquire the company. The proposed acquisition was financed by:

  • $7 billion of senior secured bank loans;
  • $6 billion in subordinated debt;
  • $12.5 billion in bank loans to Musk personally, secured by $62.5 billion of his Tesla stock;
  • $21 billion in cash equity from Musk, to be provided by sales of Tesla stock or other assets.[26][27][28]

The $13 billion in money borrowed by Twitter is equivalent to seven times the company's 2022 projected operating cash flow; some banks in the lending group found that multiple too risky and they opted to participate only in the $12.5 billion margin loan to Musk.[29] The debt is estimated to cost Twitter approximately $1 billion in annual interest and fees.[30] Two days after announcing his bid, Musk registered three holding companies under the name "X Holdings" in preparation for his takeover.[31]

Tesla shares fell 12% on the day after the acquisition was announced, amid smaller declines in the broader markets. Musk incurred a $21 billion paper loss that day. Excluding stock he has pledged to banks as collateral for his $12.5 billion personal loan, Musk has $11 billion in freely-sellable Tesla shares, $10 billion less than he needs for his $21 billion cash equity contribution. One means of meeting the shortfall would be to exercise some of his Tesla stock options, which would be taxed as ordinary income. Within three days after Twitter agreed to be acquired, Musk had sold $8.5 billion of his Tesla shares.[32][33]

Acquisition and secondary effects

On April 24, multiple outlets reported that Twitter was in final negotiations to accept Musk's offer,[34][35] with a deal expected to be reached by the next day.[36] However, Reuters cautioned that the deal could still fall apart at the last minute.[37] Twitter's board publicly and unanimously accepted the buyout offer on April 25 for $44 billion, and Twitter will become a private company once the transaction is completed sometime in 2022.[38] The deal will require shareholder and regulatory approval before it can be finalized,[39] though analysts believed it was unlikely to be challenged by regulators.[40] If Musk backs out of the acquisition, he will be required to pay Twitter a $1 billion breakup fee.[41] Twitter CEO Parag Agrawal will receive $39 million from the buyout, while Twitter's co-founder and former CEO Jack Dorsey will receive $978 million.[42] Tesla's stock sank by more than $125 billion the next market day, causing Musk to lose approximately $30 billion of his net worth.[43][44]

After the acceptance was announced, Musk stated that his first plan is to make the algorithm that ranks tweets in the content feed open source, in order to increase transparency. He has also stated his intention to remove spambots and "authenticate all real humans".[45] In addition, Musk has suggested converting Twitter's San Francisco headquarters into a homeless shelter,[46] and has said that he does not have confidence in Twitter's corporate management.[47] He subsequently made tweets critical of Twitter executives such as Vijaya Gadde, which has led to harassment described as "racist" and "sexist".[48][49][50] Former Twitter CEO Dick Costolo denounced Musk's criticism, while Agrawal stated that he was proud of Twitter employees "despite the noise" around the company.[48]

On April 27, Musk tweeted "For Twitter to deserve public trust, it must be politically neutral, which effectively means upsetting the far right and the far left equally".[51]

On April 28, Twitter reassured advertising agencies that their work would not be seen next to offensive material.[52] Musk had also discussed with bankers with the ideas of cutting jobs and costs, encouraging influencers to be creative, and adding subscription services to Twitter.[53][54]

Reactions

Pre-announcement

Following Musk's induction to Twitter's board of directors on April 5, Agrawal wrote that he believed Musk's appointment would bring long-term value to the company, while Dorsey wrote that Musk "cares deeply about our world and Twitter's role in it".[14] On April 11, Agrawal stated that he believed Musk's withdrawal from the board was "for the best", noting that the company would "remain open to his input".[16] The next day, Twitter shareholders sued Musk for allegedly manipulating the company's stock price and violating SEC rules.[55]

Musk's offer was met with both praise and criticism.[56] Media outlets expressed concerns that Musk's proposed changes to Twitter would result in more disinformation and harassment.[56] Conservative and Republican commentators and politicians, who believe Twitter discriminates against right-wing speech, expressed enthusiasm for Musk's proposed changes.[56][57] On April 14, Twitter employees expressed concern with Musk's views on free speech.[58][59] On April 19, the National Urban League urged Twitter to turn down Musk's takeover bid, warning of potentially negative consequences on users' civil rights.[60] On April 22, House Republicans in the U.S. demanded that Twitter's board preserve all records pertaining to Musk's takeover proposal, which sets the stage for a potential congressional probe following the 2022 midterms.[61] According to a poll conducted by Harvard University's Center for American Political Studies (CAPS) and the Harris Poll, 57 percent of American voters approved of Musk's purchase of Twitter.[62] Jimmy Patronis, the Chief Financial Officer of Florida, praised Musk's offer and was critical of Twitter's "poison pill" strategy.[63] On April 25, following reports that Twitter was poised to accept Musk's offer, Twitter's shares rose by 5 percent.[64]

Post-announcement

Agrawal applauded the purchase and assured employees that no layoffs were planned at that time.[65][66] Dorsey endorsed the sale, saying that "taking [Twitter] back from Wall Street is the correct first step" and that he trusted Musk to be the new owner of the company.[67] Republican lawmakers in the U.S. Congress such as Jim Jordan, Yvette Herrell, Marsha Blackburn, and Ted Cruz praised the deal, calling it a restoration of free speech. Democratic lawmakers such as Pramila Jayapal, Jesús García, Marie Newman, and Mark Pocan criticized Musk and the buyout.[68] Former U.S. President Donald Trump expressed approval with the deal but stated that he would not rejoin the platform, even if he is unbanned.[69] President of Mexico Lopez Obrador stated that he hopes Musk will "clean it up… of the corruption that's there, manipulation with bots".[70] By April 27, 30,000 new users had joined open-source Mastodon servers.[71] Conservative Twitter accounts experienced a significant increase in followers, while liberal ones experienced a slight decrease.[72] Many left-leaning users left the platform following the buyout.[73]

Twitter general counsel Vijaya Gadde was criticized by Musk, cried during a meeting after the announcement, and was subsequently subjected to online ridicule.[74] Agrawal led an all-hands meeting on April 29 to address concerns raised by employees.[75] Some LGBTQ+ users and activists have expressed apprehension about the deal based on tweets by Musk mocking transgender people and fear that the re-platforming of suspended Twitter accounts will lead to a rise in online harassment and hate speech.[76][77] Followers of the QAnon conspiracy theory celebrated the purchase, believing Musk's free speech approach would allow them back onto the platform.[78] FCC commissioner Brendan Carr responded to calls for the agency to block the purchase by saying that it has no authority to do so, calling such requests "absurd".[79]

Henrik Fisker, co-founder of electric vehicle maker Fisker Inc. and a rival of Musk's, left Twitter shortly after the acquisition announcement.[80] Amazon founder Jeff Bezos questioned whether Tesla's business interest in China would give the Chinese government leverage over Twitter via Musk, before answering that it would "probably not".[81][82] Thierry Breton, the European Commissioner for Internal Market, emphasized that "any company operating in Europe needs to comply with [their] rules", while the European Union announced that new online rules will "overhaul" the digital market and Tech Giants.[83]

Analysis

Elizabeth Lopatto of The Verge predicted that a Musk takeover would lead to a mass employee exodus and a possible reinstatement of Trump's Twitter account.[84] Jim Cramer of CNBC opined that the Twitter board would have "no choice" but to reject Musk's offer due to potential personal liability faced by the board members.[85] After the acquisition announcement, Alex Werpin of The Hollywood Reporter warned of widespread repercussions.[86] Greg Bensinger of The New York Times alleged that Musk's acquisition was "about controlling a megaphone" rather than free speech,[87] while The Washington Post raised concerns with Musk's calls for free speech.[88] Equity analyst Angelo Zino believed that Twitter's decision may have stemmed from their realization that alternative bidders would be unlikely to emerge due to social media companies' declining asset prices.[89]

Kate Klonick, a law professor at St. John's University, said that to allow "all free speech" to exist on Twitter would open the door to the spread of pornography and hate speech.[90] Don Pittis of CBC News noted the controversy associated with the wealthy gaining control of media platforms.[91] Media Matters for America and the Australian Strategic Policy Institute both suggested that China could use its influence to extract political concessions or manipulate Twitter due to Musk's ties with China.[92][93] Analyst Mike Proulx of Forrester Research cautioned that other companies may leave Twitter if Musk loosens its moderation policies.[94] Joan Donovan, research director at Harvard's Shorenstein Center on Media, Politics and Public Policy, stated on Twitter that Musk's freedom of speech would lead "the kind of harassment that content moderation tampers", and its victim is "lgbtq groups, women, BIPOC, and anyone else fighting for civil rights."[95]

Lindsey Bakes of Deseret News said that Musk could integrate cryptocurrency within Twitter.[96]

Kevin D. Williamson of National Review compared Musk's purchase of Twitter to Donald Trump's 2016 presidential campaign, calling it "part publicity stunt, part vanity project, part fit of pique that he never really intended to go through with but couldn't walk away from once he was in the ring."[97]

Robby Soave of Reason argued that Musk's purchase would not threaten Twitter or democracy, and that "the people really overstating Twitter's importance are actually Musk's critics in progressive and mainstream media."[98]

References

  1. ^ D'Onfro, Jillian; Ranj, Brandt (January 20, 2022). "The very first tweets from famous tech execs like Elon Musk and Marissa Mayer". Business Insider. Archived from the original on January 22, 2022. Retrieved April 25, 2022.
  2. ^ Imbert, Fred (April 4, 2022). "Twitter shares close up 27% after Elon Musk takes 9% stake in social media company". CNBC. Archived from the original on April 4, 2022. Retrieved April 25, 2022.
  3. ^ Mankarious, Sarah-Grace; Chacón, Marco; Duffy, Clare; Thorbecke, Catherine (April 26, 2022). "Here's what Elon Musk has tweeted over the years ... about Twitter". CNN Business. Archived from the original on April 27, 2022. Retrieved April 27, 2022.
  4. ^ Dodds, Io (March 22, 2022). "Conservative satire site The Babylon Bee locked out of Twitter for misgendering trans White House official". The Independent. Archived from the original on March 22, 2022. Retrieved April 25, 2022.
  5. ^ Klar, Rebecca (March 21, 2022). "Twitter suspends Babylon Bee for misgendering Rachel Levine". The Hill. Archived from the original on March 21, 2022. Retrieved March 21, 2022.
  6. ^ Kaonga, Gerrard (March 21, 2022). "Why was The Babylon Bee suspended by Twitter? CEO Seth Dillon reacts to ban". Newsweek. Archived from the original on March 21, 2022. Retrieved March 21, 2022.
  7. ^ Richardson, Valerie (April 4, 2022). "Babylon Bee CEO: Twitter's Bee lockout may have been 'last straw' for Elon Musk". The Washington Times. Archived from the original on April 4, 2022. Retrieved April 11, 2022.
  8. ^ a b Adler, Maxwell; Hull, Dana; Paris, Martine (April 25, 2022). "A Timeline of Elon Musk's Takeover of Twitter". Yahoo! Finance. Archived from the original on April 25, 2022. Retrieved April 25, 2022.
  9. ^ Duffy, Kate (April 5, 2022). "Elon Musk asks Twitter users whether they'd like an 'edit' button. Twitter's CEO says results of the poll will be 'important.'". Business Insider. Archived from the original on April 5, 2022. Retrieved April 25, 2022.
  10. ^ Kolodny, Lora; Novet, Jordan (April 5, 2022). "Elon Musk spent $2.64 billion on Twitter shares so far this year, new filing shows". CNBC. Archived from the original on April 6, 2022. Retrieved April 7, 2022.
  11. ^ Isaac, Mike; Hirsch, Lauren (April 4, 2022). "Elon Musk becomes Twitter's largest shareholder". The New York Times. Archived from the original on April 4, 2022. Retrieved April 24, 2022.
  12. ^ Turner, Giles; Trudell, Craig (April 4, 2022). "Elon Musk Takes 9.2% Stake in Twitter After Hinting at Shake-Up". Bloomberg News. Archived from the original on April 4, 2022. Retrieved April 4, 2022.
  13. ^ Corfield, Gareth (April 5, 2022). "Elon Musk to join Twitter board". The Telegraph. ISSN 0307-1235. Archived from the original on April 5, 2022. Retrieved April 5, 2022.
  14. ^ a b Duffy, Clare (April 5, 2022). "Elon Musk to join Twitter's board". CNN Business. Archived from the original on April 5, 2022. Retrieved April 24, 2022.
  15. ^ Chitkara, Hirsh (April 11, 2022). "Elon Musk would've been Twitter's corporate governance nightmare". Protocol. Archived from the original on April 12, 2022. Retrieved April 24, 2022.
  16. ^ a b Bond, Shannon (April 11, 2022). "Elon Musk says he will not join the Twitter board, after all". NPR. Archived from the original on April 11, 2022. Retrieved April 24, 2022.
  17. ^ Turner, Giles; Adler, Maxwell (April 14, 2022). "Elon Musk Makes $43 Billion Unsolicited Bid to Take Twitter Private". Bloomberg News. Archived from the original on April 14, 2022. Retrieved April 14, 2022.
  18. ^ Frater, Patrick (April 14, 2022). "Elon Musk Launches $43 Billion Hostile Takeover Bid for Twitter". Variety. Archived from the original on April 14, 2022. Retrieved April 14, 2022.
  19. ^ Gilbert, Ben (April 23, 2022). "Elon Musk is attempting a hostile takeover of Twitter. Here's how that could work". Business Insider. Archived from the original on April 23, 2022. Retrieved April 24, 2022.
  20. ^ Subin, Samantha (April 14, 2022). "Elon Musk offers to buy Twitter for $43 billion, so it can be 'transformed as private company'". CNBC. Archived from the original on April 14, 2022. Retrieved April 14, 2022.
  21. ^ Sato, Mia (April 14, 2022). "Buying Twitter 'is not a way to make money,' says Musk in TED interview". The Verge. Archived from the original on April 14, 2022. Retrieved April 25, 2022.
  22. ^ Robertson, Adi (April 15, 2022). "What Elon Musk's Twitter 'free speech' promises miss". The Verge. Archived from the original on April 15, 2022. Retrieved April 24, 2022.
  23. ^ Milmo, Dan (April 14, 2022). "How 'free speech absolutist' Elon Musk would transform Twitter". The Guardian. Archived from the original on April 27, 2022. Retrieved April 25, 2022.
  24. ^ Copeland, Rob; Elliott, Rebecca; Lombardo, Cara (April 14, 2022). "Elon Musk Makes $43 Billion Bid for Twitter, Says 'Civilization' At Stake". The Wall Street Journal. ISSN 0099-9660. Archived from the original on April 14, 2022. Retrieved April 14, 2022.
  25. ^ Manfredi, Lucas (April 15, 2022). "Twitter adopts 'poison pill' to prevent Elon Musk takeover". Fox Business. Archived from the original on April 15, 2022. Retrieved April 24, 2022.
  26. ^ Levine, Matt (April 21, 2022). "Elon Got His Money". Bloomberg News. Archived from the original on April 22, 2022. Retrieved April 25, 2022.
  27. ^ Isaac, Mike; Hirsch, Lauren (April 25, 2022). "With Deal for Twitter, Musk Lands a Prize and Pledges Fewer Limits". The New York Times. Archived from the original on April 27, 2022. Retrieved April 26, 2022.
  28. ^ MacMillan, Douglas; Siddiqui, Faiz; Lerman, Rachel; Telford, Taylor (April 25, 2022). "Elon Musk acquires Twitter for roughly $44 billion". The Washington Post. Archived from the original on April 25, 2022. Retrieved April 26, 2022.
  29. ^ Krystal Hu; Anirban Sen (April 29, 2022). "Musk told banks he will rein in Twitter pay, make money from tweets, sources say". Reuters.
  30. ^ Levine, Matt (April 21, 2022). "Elon Got His Money". Bloomberg News. Archived from the original on April 22, 2022. Retrieved April 25, 2022.
  31. ^ Manfredi, Lucas (April 22, 2022). "Elon Musk registers three 'X Holdings' companies to support Twitter takeover bid". Fox Business. Archived from the original on April 22, 2022. Retrieved April 24, 2022.
  32. ^ Salmon, Felix (April 28, 2022). "Tesla's stock could fall much further". Axios.
  33. ^ Isidore, Chris (April 29, 2022). "Elon Musk sells $8.5 billion worth of Tesla shares". CNN.
  34. ^ Baker, Liana; Davis, Michelle F. (April 25, 2022). "Twitter Eyes Deal With Musk as Soon as Monday". Bloomberg News. Archived from the original on April 25, 2022. Retrieved April 25, 2022.
  35. ^ Hirsch, Lauren; Isaac, Mike; Conger, Kate (April 24, 2022). "Twitter Nears a Deal to Sell Itself to Elon Musk". The New York Times. Archived from the original on April 25, 2022. Retrieved April 25, 2022.
  36. ^ Lombardo, Cara; Cimilluca, Dana (April 24, 2022). "Twitter, Elon Musk Deal Could Be Announced Monday". The Wall Street Journal. Archived from the original on April 25, 2022. Retrieved April 25, 2022.
  37. ^ Roumeliotis, Greg (April 25, 2022). "Twitter set to accept Musk's $43 billion offer". Reuters. Archived from the original on April 25, 2022. Retrieved April 25, 2022.
  38. ^ Spangler, Todd (April 25, 2022). "Elon Musk Clinches Deal to Buy Twitter for $44 Billion". Variety. Archived from the original on April 25, 2022. Retrieved April 25, 2022.
  39. ^ Lombardo, Cara; Bobrowsky, Meghan; Wells, Georgia (April 25, 2022). "Twitter Accepts Elon Musk's Offer to Buy Company in $44 Billion Deal". The Wall Street Journal. Archived from the original on April 25, 2022. Retrieved April 25, 2022.
  40. ^ McCabe, David (April 25, 2022). "Regulators are unlikely to block Musk's purchase of Twitter, former officials say". The New York Times. Archived from the original on April 25, 2022. Retrieved April 25, 2022.
  41. ^ Balu, Nivedita (April 26, 2022). "Twitter-Musk deal includes $1 billion termination fee – filing". Reuters. Archived from the original on April 26, 2022. Retrieved April 29, 2022.
  42. ^ Werpin, Alex (April 25, 2022). "$978M for Jack Dorsey and $39M for Parag Agrawal: Twitter Execs Could See Massive Paydays If Elon Musk Takeover Closes". The Hollywood Reporter. Archived from the original on April 25, 2022. Retrieved April 26, 2022.
  43. ^ Siddiqui, Faiz (April 26, 2022). "Tesla's value dropped Tuesday by more than double the cost of Twitter". The Washington Post. Archived from the original on April 27, 2022. Retrieved April 26, 2022.
  44. ^ Gura, David (April 26, 2022). "Tesla shares sink, wipe out over $125 billion in value, as Musk scores Twitter deal". NPR. Archived from the original on April 27, 2022. Retrieved April 26, 2022.
  45. ^ Sherman, Natalie; Thomas, Daniel (April 25, 2022). "Elon Musk strikes deal to buy Twitter for $44bn". BBC News. Archived from the original on April 25, 2022. Retrieved April 25, 2022.
  46. ^ Olinga, Luc (April 10, 2022). "Musk Has an Original Idea to Solve The Homeless Crisis in San Francisco". TheStreet. Archived from the original on April 10, 2022. Retrieved April 26, 2022.
  47. ^ Duffy, Clare (April 25, 2022). "Elon Musk to buy Twitter in $44 billion deal". CNN Business. Archived from the original on April 25, 2022. Retrieved April 26, 2022.
  48. ^ a b Woo, Erin; Isaac, Mike (April 27, 2022). "In tweets, Musk takes aim at Twitter executives, creating outrage". The New York Times. Archived from the original on April 28, 2022. Retrieved April 27, 2022. Minutes later, Twitter users began tweeting abusive comments at Ms. Gadde and Mr. Baker, including racist and sexist attacks.
  49. ^ Zakrzewski, Cat; Dwoskin, Elizabeth; Siddiqui, Faiz (April 27, 2022). "Elon Musk boosts criticism of Twitter executives, prompting online attacks". The Washington Post. Archived from the original on April 28, 2022. Retrieved April 27, 2022. Twitter users quickly piled on — calling on Musk to fire Gadde or using racist language to describe her.
  50. ^ Wagner, Kurt; Adler, Maxwell (April 27, 2022). "Twitter Legal Executive Hit With Online Abuse Following Musk Tweet". Bloomberg News. Archived from the original on April 28, 2022. Retrieved April 27, 2022. Some used expletives or racist slurs referring to Gadde's Indian heritage, [including references to curry and India's caste system.]
  51. ^ Peters, Jeremy W. (April 30, 2022). "Twitter Isn't for Quitters". The New York Times. ISSN 0362-4331. Retrieved May 1, 2022.
  52. ^ Vincent, James (April 28, 2022). "Twitter reassures advertisers Musk won't make the platform more of a toxic hell-hole than it already is". The Verge. Archived from the original on April 28, 2022. Retrieved April 28, 2022.
  53. ^ Soon, Weilun (April 29, 2022). "Elon Musk suggested firing workers and working with influencers to boost Twitter's bottom line: reports". Business Insider. Archived from the original on April 29, 2022. Retrieved April 29, 2022.
  54. ^ Baker, Liana; Davis, Michelle F.; Wagner, Kurt (April 8, 2022). "Musk's Twitter Pitch Featured Job Cuts, Other Ways to Make Money". Bloomberg News. Archived from the original on April 29, 2022. Retrieved April 29, 2022.
  55. ^ Smith, Zachary Snowdon (April 12, 2022). "Twitter Shareholder Sues Musk, Saying He Misled Investors". Forbes. Archived from the original on April 12, 2022. Retrieved April 24, 2022.
  56. ^ a b c Soave, Robby (April 18, 2022). "Why Does Elon Musk's Potential Twitter Takeover Scare the Media So Much?". Reason.com. Retrieved May 1, 2022.
  57. ^ Cox, Kate (April 14, 2022). "An Elon Musk takeover is Twitter's worst nightmare. Here's what happens next". Protocol. Archived from the original on April 14, 2022. Retrieved April 24, 2022.
  58. ^ Perrigo, Billy (April 14, 2022). "'The Idea Exposes His Naiveté.' Twitter Employees On Why Elon Musk Is Wrong About Free Speech". Time. Archived from the original on April 14, 2022. Retrieved April 24, 2022.
  59. ^ Nix, Naomi; Tiku, Nitasha; Oremus, Will; Siddiqui, Faiz (April 14, 2022). "Elon Musk's Twitter bid frustrates employees. That's a risk for him". The Washington Post. Archived from the original on April 15, 2022. Retrieved April 24, 2022.
  60. ^ Palmer, Annie (April 19, 2022). "Elon Musk buying Twitter could have 'grave implications' for civil rights, says Urban League". CNBC. Archived from the original on April 20, 2022. Retrieved April 24, 2022.
  61. ^ Feiner, Lauren (April 22, 2022). "House Republicans demand Twitter's board preserve all records about Musk's bid to buy the company". CNBC. Archived from the original on April 23, 2022. Retrieved April 24, 2022.
  62. ^ Manchester, Julia (April 25, 2022). "More than half of voters approve of Musk buying Twitter: poll". The Hill. Archived from the original on April 25, 2022. Retrieved April 25, 2022.
  63. ^ Kerber, Ross (April 21, 2022). "Florida pension leader praises Musk's Twitter bid, criticizes poison pill". Reuters. Archived from the original on April 21, 2022. Retrieved April 25, 2022.
  64. ^ Bursztynsky, Jessica (April 25, 2022). "Twitter shares jump 5% on reports it could accept Elon Musk's bid as early as Monday". CNBC. Archived from the original on April 25, 2022. Retrieved April 25, 2022.
  65. ^ Roth, Emma; Brandom, Russell (April 25, 2022). "Twitter accepts buyout, giving Elon Musk total control of the company". The Verge. Archived from the original on April 25, 2022. Retrieved April 25, 2022.
  66. ^ Heath, Alex; Sato, Mia (April 25, 2022). "Twitter CEO tells employees no layoffs planned 'at this time' following Elon Musk buyout". The Verge. Archived from the original on April 25, 2022. Retrieved April 25, 2022.
  67. ^ Lopatto, Elizabeth (April 25, 2022). "Jack Dorsey says 'Elon is the singular solution I trust' for Twitter's future". The Verge. Archived from the original on April 26, 2022. Retrieved April 26, 2022.
  68. ^ Rai, Sarakshi (April 25, 2022). "Republicans praise Musk's Twitter acquisition; Democrats skeptical". The Hill. Archived from the original on April 25, 2022. Retrieved April 25, 2022.
  69. ^ Singman, Brooke (April 25, 2022). "Trump will not return to Twitter even as Elon Musk purchases platform, will begin using his own TRUTH Social". Fox News. Archived from the original on April 25, 2022. Retrieved April 25, 2022.
  70. ^ "MEXICO PRESIDENT HOPES MUSK 'CLEANS UP' TWITTER". Politiko. April 27, 2022. Retrieved April 30, 2022.
  71. ^ Bell, Karissa (April 27, 2022). "After Musk's Twitter takeover, an open-source alternative is 'exploding'". Engadget. Archived from the original on April 27, 2022. Retrieved April 27, 2022.
  72. ^ Faife, Corin (April 27, 2022). "Conservative Twitter accounts got boost in followers after Musk acquisition, data shows". The Verge. Archived from the original on April 27, 2022. Retrieved April 28, 2022.
  73. ^ Hern, Alex (April 28, 2022). "Left-leaning users leave Twitter in protest at Musk takeover". The Guardian. Archived from the original on April 29, 2022. Retrieved April 29, 2022.
  74. ^ Bhattacharya, Ananya (April 27, 2022). "An Indian-born female Twitter executive received a barrage of abuse following a Musk tweet". Quartz. Archived from the original on April 30, 2022. Retrieved April 30, 2022.
  75. ^ Yang, Maya (April 29, 2022). "Twitter employees grill CEO Parag Agrawal over fears of post-Musk exodus". The Guardian. Archived from the original on April 30, 2022. Retrieved April 29, 2022.
  76. ^ Yurcaba, Jo (April 27, 2022). "Some trans Twitter users say platform under Elon Musk would be 'terrifying'". NBC News. Archived from the original on April 30, 2022. Retrieved April 29, 2022.
  77. ^ Migdon, Brooke (April 25, 2022). "LGBTQ+ Twitter users contemplate exit amid Elon Musk takeover". The Hill. Archived from the original on April 25, 2022. Retrieved April 26, 2022.
  78. ^ Gilbert, David (April 26, 2022). "QAnon Thinks Elon Musk Is Going to Let Them Back on Twitter". Vice News. Archived from the original on April 26, 2022. Retrieved April 26, 2022.
  79. ^ Slisco, Aila (April 27, 2022). "Republican FCC Commissioner Won't Stand in Way of Musk Twitter Buy". Newsweek. Archived from the original on April 28, 2022. Retrieved April 28, 2022.
  80. ^ O'Kane, Sean (April 25, 2022). "Fisker CEO's Twitter Account Disappears After Musk Acquisition". Bloomberg News. Archived from the original on April 25, 2022. Retrieved April 26, 2022.
  81. ^ Savov, Vlad (April 25, 2022). "Jeff Bezos Takes Aim at Musk's Twitter Deal With China Jibe Vlad Savov". Bloomberg News. Archived from the original on April 26, 2022. Retrieved April 26, 2022.
  82. ^ "Bezos asks if Musk's Twitter deal will signal change in China content policy". Reuters. April 26, 2022. Archived from the original on April 26, 2022. Retrieved April 26, 2022.
  83. ^ "Elon Musk warned he must protect Twitter users". BBC News. April 26, 2022. Archived from the original on April 26, 2022. Retrieved April 26, 2022.
  84. ^ Lopatto, Elizabeth (April 22, 2022). "Elon Musk Has Money to Buy Twitter — Now What?". The Verge. Archived from the original on April 22, 2022. Retrieved April 24, 2022.
  85. ^ Feiner, Lauren (April 14, 2022). "Cramer: Twitter's board has 'no choice' but to reject Elon Musk's offer". CNBC. Archived from the original on April 15, 2022. Retrieved April 25, 2022.
  86. ^ Werpin, Alex (April 25, 2022). "Elon Musk Is Twitter's New Ruler: Expect Grand Plans (and Chaos) Ahead". The Hollywood Reporter. Archived from the original on April 25, 2022. Retrieved April 25, 2022.
  87. ^ Bensinger, Greg (April 25, 2022). "Twitter Under Elon Musk Will Be a Scary Place". The New York Times. Archived from the original on April 25, 2022. Retrieved April 25, 2022.
  88. ^ Dwoskin, Elizabeth (April 18, 2022). "Elon Musk wants a free speech utopia. Technologists clap back". The Washington Post. Archived from the original on April 18, 2022. Retrieved April 24, 2022.
  89. ^ Duffy, Clare (April 25, 2022). "Twitter reportedly nearing deal to sell itself to Elon Musk". CNN Business. Archived from the original on April 25, 2022. Retrieved April 25, 2022.
  90. ^ Fadel, Leila (April 15, 2022). "What would happen to free speech if Elon Musk bought Twitter?". NPR. Archived from the original on April 15, 2022. Retrieved April 25, 2022.
  91. ^ Pittis, Don (April 28, 2022). "Will Elon Musk follow the old adage that media freedom is only for those who own the media?". CBC News. Archived from the original on April 28, 2022. Retrieved April 28, 2022.
  92. ^ Myers, Steven Lee; Mozur, Paul (April 29, 2022). "Musk's Ties to China Could Create Headaches for Twitter". The New York Times. Archived from the original on April 29, 2022. Retrieved April 29, 2022.
  93. ^ Lin, Liza; Hao, Karen (April 26, 2022). "China Looms Large Over Twitter's Future Under Elon Musk". The Wall Street Journal. Archived from the original on April 27, 2022. Retrieved April 27, 2022.
  94. ^ Spangler, Todd (April 26, 2022). "How Elon Musk Backed Twitter Into a Corner". Variety. Archived from the original on April 26, 2022. Retrieved April 28, 2022.
  95. ^ Duffy, Clare; O'Brien, Sara Ashley (April 26, 2022). "Twitter has been focused on 'healthy conversations.' Elon Musk could change that". CNN. Retrieved April 30, 2022.
  96. ^ Bakes, Lindsey (April 28, 2022). "Elon Musk is a crypto fan. What does that mean for Twitter?". Deseret News. Archived from the original on April 30, 2022. Retrieved April 29, 2022.
  97. ^ Williamson, Kevin D. (April 27, 2022). "What to Think about Elon Musk". National Review. Retrieved April 30, 2022.
  98. ^ Soave, Robby (April 26, 2022). "Elon Musk's Takeover Will Not Destroy Twitter or Democracy". Reason.com. Retrieved May 1, 2022.

Further reading

External links

Retrieved from "https://en.wikipedia.org/w/index.php?title=Acquisition_of_Twitter_by_Elon_Musk&oldid=1085617364"