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When Will Elon Musk Take Over Twitter?
When will Elon Musk take over Twitter? Elon Musk is known as Twitter’s troll-in-chief. He didn’t use Twitter much for years, but only joined to prevent impersonators from taking his username. But he began tweeting more in 2017 to slam Tesla short sellers. He also started calling rescue divers “pedo guys,” leading to lawsuits and legal wrangling.
Musk’s stake in twitter reported on April 4, 2022
Elon Musk has been investing in several companies over the years, from Stripe Inc to Vicarious. Elon Musk founded SpaceX and leads the brain-chip startup Neuralink and infrastructure firm the Boring Company. On the same subject : What is Fleets on Twitter?. His stake in Twitter was targeted by Elliott Management Corp in 2020, after it claimed he didn’t give Twitter enough attention. The company agreed to give Musk’s team full access to its platform in exchange for the stake.
Elon Musk is the biggest shareholder in Twitter, and the timing of his disclosure is key. He’s criticized Twitter for its efforts to control harmful content and suggested starting his own social platform. However, his investment sent Twitter stock soaring. Although Musk hasn’t disclosed what role he plans to play in Twitter, analysts speculate he might try to get the company to undergo an activist restructuring.
Musk’s plan to increase revenue
Elon Musk recently hinted at a new subscription service that would charge people to access Twitter. Known as “Blue,” the service would cost $3 per month and will offer premium features. Currently, Twitter offers the service only in the United States, Canada, Australia and New Zealand. See the article : Why You Should Not Use Twitter For Business. Musk’s plan to increase revenue on Twitter has many ramifications. For one, it could lead to cost-cutting for banks. It also may lead to the creation of new premium features, including ad-free interfaces and enhanced editing capabilities.
In 2028, Musk estimates that advertising will generate $12 billion and subscriptions would contribute $10 billion, respectively. His goal is to boost Twitter’s revenue from subscriptions by 25 percent and increase its user base to 931 million by 2028. As of now, most of Twitter’s revenue comes from advertising, which accounts for 89% of the company’s total revenue. Ultimately, however, Musk’s plan could increase revenue on Twitter without sacrificing user experience.
Musk’s focus on spam accounts
Musk’s focus on spam accounts is not the only reason Twitter may decide to pull out of the takeover deal. The share price of the company has fallen dramatically since Musk’s April takeover bid. See the article : How to Get Your Twitter Account Unsuspended. In addition to Twitter, Musk also runs SpaceX, Tesla, and some start-ups. But is Musk’s focus on spam accounts genuine? Or is he simply letting the company’s reputation suffer? Let’s find out.
Elon Musk has withdrawn from the Twitter deal, which he had made in April this year, citing a “material breach” in which Twitter had made false statements. Musk’s focus on spam accounts is a result of the fact that he believes the number of spam bot accounts on Twitter is far higher than the company claims. Twitter claims to have fewer than five percent of its daily active users. This means that Musk is right.
Musk’s financial juggling ahead of takeover
Elon Musk’s financial juggling ahead of the Twitter takeover is an interesting development. The billionaire is contributing $33.5 billion to the deal as equity, but his stake would need to increase more than 1.4 times to make up for his initial investment. Musk has agreed to take out a risky $12.5 billion margin loan against his shares in Tesla, which could default if Tesla stock falls 40%.
The price of Musk’s proposed Twitter takeover has already reached $33 billion, and it’s not known if he’ll use the full amount or cut executive pay. Musk has committed $21 billion of equity and secured another $25.5 billion of debt financing for the deal. He has said that he plans to complete the deal, despite the uncertainty surrounding the price. However, it is unclear how many investors would be willing to finance such a deal.
Musk’s lawyers want this trial to happen next year
Twitter’s lawsuit against Elon Musk is slated for a Delaware Chancery Court trial next year. Twitter has requested a quick resolution and a trial date of September. Musk’s attorneys, on the other hand, want the case to be delayed until next year. This scenario is likely to result in a settlement and, therefore, a settlement will be less disruptive to Twitter’s business.
Twitter and Musk’s attorneys both want this trial to be delayed until next year, but Twitter and Musk disagree. Twitter wants the trial to be held in September and Musk’s lawyers want it to happen in February 2023. Both parties need more time to analyze data, and Musk’s lawyers believe that the delayed trial is detrimental to Twitter’s interests and its shareholders. Twitter, on the other hand, says that prolonging the trial will damage Twitter’s reputation and would violate legal precedent.
Musk’s tweets have gotten him in trouble before
Elon Musk has been in trouble with the law multiple times in the past for his tweets. He has floated taking Tesla private at $420 a share but the stock is now trading over $1,000 a share. The Tesla CEO recently settled a case with the SEC over tweets about the electric car company. Musk must now get approval from the company’s legal department before tweeting about Tesla. Musk has not shied away from criticizing Twitter, even asking people what they thought of the social networking site.
Another instance of Musk’s tweets catching him in trouble was in Thailand, where he called a British diver a “pedophile” in an infamous tweet. The tweet, which was later deleted, was in reference to Unsworth’s role in a cave rescue mission in Thailand. He apologized for the tweet and offered to hire legal counsel. The tweets were followed by a public apology from Musk, who later said that the words “would never get him in trouble” were taken out of context.
