Oct 28, 2022

Elon Musk completes $44bn Twitter takeover

Elon Musk has completed his $44bn takeover of Twitter, according to a number of media reports and an investor in the firm. It brings to a close a saga that saw Twitter going to court to hold Mr Musk to the terms of a takeover deal that he had tried to escape. On a recent earnings call, the Tesla founder said Twitter was "An asset that has just sort of languished for a long time, but has incredible potential, although obviously myself and the other investors are overpaying for Twitter right now". By mid-May Mr Musk, a prolific Twitter user, had begun to change his mind about the purchase, citing concerns that the number of fake accounts on the platform was higher than Twitter claimed. In a tweet addressed to Twitter advertisers Mr Musk said that the platform could not become a "Free-for-all hellscape" and must be "Warm and welcoming for all".

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