If it was still rumored a few hours ago, it’s now confirmed: the richest man on the planet, Elon Musk, has just bought Twitter for US$44 billion. Back on the steps that led to this transaction.
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March 28, 2022: He wants to launch his own social network
On Twitter, Elon Musk has multiplied the frescoes. For example, he left the fate of the sale of part of Tesla shares in the hands of his subscribers, in addition to summoning Vladimir Putin to a duel with Ukraine as the stake.
The most significant controversy arose in the summer of 2018. Elon Musk, who is now followed by more than 80 million subscribers, assured “have the appropriate funding to remove Tesla from the New York Stock Exchange”, without however provide proof. This controversy had prompted the billionaire to abandon his position as chairman of the board of directors of Tesla.
Since then, the entrepreneur never misses an opportunity to criticize Twitter. In recent months, he has gone to several polls to ask the opinion of Internet users about freedom of expression on the social network.
“Given that Twitter serves as a de facto public square, failure to uphold the principles of free speech fundamentally undermines democracy. What should I do?” he asked.
It was in a series of tweets following this statement that Elon Musk admitted to “seriously considering” launching his own social network, without saying more.
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April 4, 2022: He buys 9.2% of Twitter
A dramatic turn of events on the morning of April 4, when Twitter’s share price soared nearly 25%. The richest man on the planet acquires 73.5 million common shares of Twitter, or 9.2% of the company’s stock market value. An acquisition of no less than US$2.9 billion.
At this time, Elon Musk became the group’s largest shareholder ahead of the Vanguard investment fund and the Morgan Stanley bank.
• Read also: Elon Musk becomes the first shareholder of Twitter and the action flies away
April 5, 2022: He joins Twitter’s board of directors
The day after the transaction, the general manager of the social network confirms that Elon Musk will take his place on the board of directors.
“During our conversations with Elon in recent weeks”, continued the general manager of the group to the blue bird, “it became clear to us that he would bring significant added value to our board of directors”, had then tweeted Parag Agrawal.
• Read also: Elon Musk quits joining Twitter board
April 11, 2022: he gives up joining the board of directors
Second twist: Elon Musk gives up, after a week full of twists and turns, to join the board of directors of the social network.
It is once again the general manager of Twitter who makes the announcement.
True to form, the multi-billionaire was content to tweet an emoji who giggles as an explanation.
• Read also: Elon Musk offers to buy “100% of Twitter” and take the company out of the stock market
April 14, 2022: he offers to buy 100% of Twitter and take the company off the stock market
Clearly, Elon Musk isn’t afraid to change his mind. After committing not to increase its stake in Twitter beyond 14.9%, the entrepreneur offers to buy outright “100% of Twitter at a price of 54.20 dollars per share in cash, a premium by 54% compared to the day before the start of my investment in Twitter and by 38% compared to the day before the public announcement of my investment”.
In his letter to the chairman of the board of directors of Twitter, Elon Musk says he wanted to invest because the platform plays a “major role for freedom of expression across the planet”, “a societal imperative of a functioning democracy “.
Nevertheless, he explains that the company has not prospered since he made his investment and that it would “not serve its societal imperative in its current form”, before proposing to withdraw Twitter from the New York Stock Exchange.
• Read also: It’s official: Elon Musk buys Twitter for $44 billion
April 25, 2022: He buys Twitter for US$44 billion
Elon Musk finally agrees with the board of directors of Twitter to buy the social network at a price of 54.20 dollars per share – as he had proposed – and make it a private company, not listed on the stock exchange.
“Freedom of expression is the bedrock of a functioning democracy, and Twitter is the digital public square where issues vital to the future of humanity are debated,” said Elon Musk, quoted in the Twitter statement.
Just before the announcement, Elon Musk tweeted, “I hope even my worst critics stay on Twitter, that’s what free speech means.” This announcement suggests that the boss of Tesla could reopen certain accounts previously deleted, such as that of Donald Trump.
-With AFP