NBA Republic
Billionaire Elon Musk has made a name for himself as a tech genius and innovative entrepreneur. His companies, Tesla and SpaceX are both leaders in their respective industries.
In mid-April, 2022, the billionaire made headlines when he announced that he would be purchasing the social media platform, Twitter. Therefore, in this article, we will tell you the latest about the Elon Musk twitter deal.
The news of the deal came as a surprise to many, as Twitter has been struggling with its user base for some time now. However, Musk believes that he can revive the platform and make it profitable again. He plans to keep all of Twitter’s current employees and make changes to the company only if necessary.
The Elon Musk twitter deal is worth some $44 billion, an amount the billionaire says he could only offer for the purchase. The board of Twitter has also accepted the offer after holding a crunch meeting to deliberate on it.
Some people are skeptical about whether or not Musk can turn Twitter around, but most agree that he is at least worth trying. He has already had great success with his other businesses, so there is no reason to believe that he won’t be able to do the same with Twitter.
Elon Musk Twitter deal updates
After going back and forth with the social media giant; Elon announced on July 8, 2022 that he would be terminating the multi-billion dollar deal. This, according to him, is because Twitter breached their agreement by refusing to eliminate all bot accounts.
However, four days after the announcement, Twitter filed a lawsuit against Elon Musk at the Chancery Court of Delaware on July 12. The lawsuit further puts the Elon Musk twitter deal in limbo.
The trial of the lawsuit will begin in October, 2022, as instructed by a US judge on July 19, 2022. The trial date however, did not sit well with Elon Musk’s legal team who want the trial to begin in the early months of 2023.
On Sunday, July 23, Musk questioned the way Twitter measures its “monetizable daily active users (MDAU).” Twitter first used the term MDAU in 2019. MDAU and related growth believed to be the best ways to measure success.
Meanwhile, on Tuesday, July 26, Twitter sent a letter to its stakeholders telling them about an upcoming vote on the acquisition of the company by Elon Musk. In the said letter, September 13 is the date set aside for this special vote, despite the legal battle the deal is currently hit with.
Source: NBA Republic