The richest man in the world and the CEO of Tesla Elon Musk made headlines on April 25th 2022 when he made an offer to take Twitter private for $44 billion. The business magnate who had previously owned 9.2% Twitter shares made him the single largest shareholder of the company before his shocking bid.
The current CEO of Twitter Parag Agrawal had issues with Mr. Musk who had thought that after their first brief conversation via text that the two would get along, but it was short lived as Elon musk is popularly known for his outrageous tweets which often gets him in trouble. He had earlier exchanged words with current CEO of Twitter which had been viewed in court this October and clearly they are not happy.
Elon had earlier texted “is Twitter dying?” Which was followed with a list of celebrities with high followings on the platform. Elon who had just joined the board had shockingly pivoted to buying the whole company.
Mr. Musk also questioned the legitimacy of Twitter accounts which he felt were not reflective of the active users Twitter had claimed to possess. Musk and Parag continually had disagreements with the way the public should view the company, with frequent back and forth disagreements between the two, Twitter shares dropped which showed the lack of trust consumers and investors were begining to have with the micro blogging platform.
Musk insisted on terminating the deal which has cost him time and money, not to mention that he is on trial concerning his bid to walk away from the $44 billion deal which is currently on going this October.
If he looses, He will be forced to complete the deal by buying Twitter whether he likes it or not.