Business / Tech Oct 28, 2022
Elon Musk's Twitter ownership begins with firings and uncertainty
Musk has offered little clarity over how he will achieve the lofty ambitions he has outlined for the influential social media platform.
Musk has offered little clarity over how he will achieve the lofty ambitions he has outlined for the influential social media platform.
Twitter has sued Elon Musk to force him to complete a deal for the firm, dismissing his claim that it misled him about the number of spam accounts on its social media platform.
The entrepreneur is on the hook to pay $33.5 billion in cash to fund the acquisition, but his liquidity is limited given that his wealth is largely tied to the shares of Tesla Inc.
While the views of Twitter shareholders vary over what a fair price for a deal would be, many urged the firm not to let the opportunity for a deal slip away.
Musk, a self-described "free speech absolutist," has been critical of the social media platform and its policies.
Uber Technologies’ warring board members have struck a peace deal which allows a multibillion-dollar investment by SoftBank to proceed, resolving a legal battle between former Chief Executive Travis Kalanick and a prominent shareholder.