{"id":46587,"date":"2022-07-30T20:39:12","date_gmt":"2022-07-30T20:39:12","guid":{"rendered":"https:\/\/zeru.com\/blog\/?p=46587"},"modified":"2022-07-30T20:39:12","modified_gmt":"2022-07-30T20:39:12","slug":"tesla-ceo-elon-musk-gets-44-billion-for-twitter","status":"publish","type":"post","link":"https:\/\/zeru.com\/blog\/tesla-ceo-elon-musk-gets-44-billion-for-twitter","title":{"rendered":"Tesla CEO Elon Musk Gets 44 Billion For Twitter"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_43 counter-flat ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69ea575d431d9\" class=\"cssicon\"><span style=\"display: flex;align-items: center;width: 35px;height: 30px;justify-content: center;direction:ltr;\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/label><label for=\"ez-toc-cssicon-toggle-item-69ea575d431d9\"  class=\"cssiconcheckbox\">1<\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69ea575d431d9\" ><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/zeru.com\/blog\/tesla-ceo-elon-musk-gets-44-billion-for-twitter\/#Tesla_CEO_Elon_Musk_Gets_44_Billion_For_Twitter\" title=\"Tesla CEO Elon Musk Gets 44 Billion For Twitter\">Tesla CEO Elon Musk Gets 44 Billion For Twitter<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/zeru.com\/blog\/tesla-ceo-elon-musk-gets-44-billion-for-twitter\/#Elon_Musk\" title=\"Elon Musk\">Elon Musk<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/zeru.com\/blog\/tesla-ceo-elon-musk-gets-44-billion-for-twitter\/#Twitter_shareholders\" title=\"Twitter shareholders\">Twitter shareholders<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/zeru.com\/blog\/tesla-ceo-elon-musk-gets-44-billion-for-twitter\/#Elon_Musks_legal_team\" title=\"Elon Musk&#8217;s legal team\">Elon Musk&#8217;s legal team<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/zeru.com\/blog\/tesla-ceo-elon-musk-gets-44-billion-for-twitter\/#Twitters_stock_price_after_Musks_withdrawal_from_the_deal\" title=\"Twitter&#8217;s stock price after Musk&#8217;s withdrawal from the deal\">Twitter&#8217;s stock price after Musk&#8217;s withdrawal from the deal<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"Tesla_CEO_Elon_Musk_Gets_44_Billion_For_Twitter\"><\/span>Tesla CEO Elon Musk Gets 44 Billion For Twitter<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/i.imgur.com\/vGZ9EvJ.jpg\" align=\"right\" style=\"margin:0px 10px; height:auto; width:auto; max-width:35% max-height:339px;\" alt=\"who gets the 44 billion for twitter\">  <\/p>\n<p>The Twitter board has recommended that Elon Musk buy the social network. This was not a surprise, as the company&#8217;s board had endorsed the acquisition before it was even announced. The deal is not without its uncertainties, however. Musk threatened to pull out of the deal if it wasn&#8217;t revealed that less than 5% of accounts on Twitter were bots. He also accused Twitter of actively resisting his requests for information about bots. However, the company has now agreed to provide the data to the public.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Elon_Musk\"><\/span>Elon Musk<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The stock of Twitter has dropped in recent days as Musk sought to buy the company. The billionaire has said that the purchase of the company would be one of the largest leveraged buyouts ever. But Twitter&#8217;s lack of transparency and failure to provide more information on fake and spam accounts is hindering the deal. Elon Musk also filed a lawsuit against Twitter to get the deal annulled. Twitter has denied the allegations and said it is not willing to lower its price.<\/p>\n<p>But if the deal goes through, Twitter&#8217;s stock will likely trade in the $25-$30 range once it reopens on Monday. The $1 billion breakup fee Musk paid Twitter in the deal could lead the company to sue Musk for breach of contract. The battle could last months. Twitter is already struggling under leadership changes, a falling share price, and low morale. If the deal fails, Musk will be forced to pay a breakup fee.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Twitter_shareholders\"><\/span>Twitter shareholders<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Elon Musk is a billionaire and the latest person to make a splash on the internet with an investment. The CEO and founder of Tesla Motors has agreed to buy Twitter for $44 billion. The deal will take the company private. Elon Musk will be the largest shareholder and take over as the CEO. He previously rejected the offer from Twitter shareholders to become a board member and even purchase the company. However, he has since changed his mind.<\/p>\n<p>Musk&#8217;s deal with Twitter could be controversial. The deal is subject to shareholder approval, and a debt resolution. In the meantime, Twitter has locked down its product changes. Musk has said he would consider renegotiating the terms, but has not ruled it out. Twitter hasn&#8217;t said whether it plans to sell itself or remain publicly traded. Musk has previously indicated that he would be willing to negotiate with Twitter shareholders.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Elon_Musks_legal_team\"><\/span>Elon Musk&#8217;s legal team<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>After a bitter fallout from the Tesla and Twitter deal, Twitter has filed a lawsuit against Elon Musk for not fulfilling his purchase promise. The lawsuit will be filed in Delaware&#8217;s Court of Chancery and is likely to be a long-drawn legal battle. According to the lawsuit, Twitter failed to provide full information on fake accounts and breached the acquisition agreement. If Twitter loses the lawsuit, it will be forced to pay a $1 billion breakup fee to Twitter, which would be a loss of $44 billion.<\/p>\n<p>As part of its defense strategy, Twitter has hired a legal team that has experience defending companies against hostile takeovers. For instance, Twitter has hired William Savitt, a partner at the highly respected law firm Wachtell Lipton. Savitt has extensive experience before Delaware&#8217;s Chancery Court. In the past, he defended against Pershing Square, a hedge fund run by billionaire investor William Ackman. Unlike other corporate raiders, Musk has not yet backed off the Twitter acquisition, but his legal team is working to make the case.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Twitters_stock_price_after_Musks_withdrawal_from_the_deal\"><\/span>Twitter&#8217;s stock price after Musk&#8217;s withdrawal from the deal<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Tesla CEO had offered to buy 14.9% of Twitter and a board seat for himself. Musk&#8217;s withdrawal from the deal has triggered a steep drop in the stock price. The company has been unable to convince Musk to sign the takeover agreement, which means the deal could be repriced in the future. Musk&#8217;s tweets about Twitter&#8217;s board could lead to a legal battle if he refuses to budge.<\/p>\n<p>While it is difficult to judge the legality of Musk&#8217;s decision to walk away from the deal, legal experts say it will be difficult for him to do so. Twitter may have to pay a $1 billion breakup fee if Musk decides to pull out on his own, and that would leave him on the hook for the rest of the deal&#8217;s costs. However, the company is confident that it will prevail in court and believes it can win.<\/p>\n<p> <iframe frameborder=\"0\" height=\"281\" allowfullscreen=\"true\" width=\"502\" src=\"https:\/\/www.youtube.com\/embed\/DP-OaAm0GyQ\" style=\"margin:0px auto; display: block;\"><\/iframe><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tesla CEO Elon Musk Gets 44 Billion For Twitter The Twitter board has recommended that Elon Musk buy the social network. This was not a surprise, as the company&#8217;s board had endorsed the acquisition before it was even announced. The deal is not without its uncertainties, however. Musk threatened to pull out of the deal [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50230,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.7 (Yoast SEO v21.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tesla CEO Elon Musk Gets 44 Billion For Twitter - Zeru<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/zeru.com\/blog\/tesla-ceo-elon-musk-gets-44-billion-for-twitter\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tesla CEO Elon Musk Gets 44 Billion For Twitter\" \/>\n<meta property=\"og:description\" content=\"Tesla CEO Elon Musk Gets 44 Billion For Twitter The Twitter board has recommended that Elon Musk buy the social network. This was not a surprise, as the company&#8217;s board had endorsed the acquisition before it was even announced. The deal is not without its uncertainties, however. Musk threatened to pull out of the deal [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/zeru.com\/blog\/tesla-ceo-elon-musk-gets-44-billion-for-twitter\" \/>\n<meta property=\"og:site_name\" content=\"Zeru\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-30T20:39:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/zeru.com\/blog\/wp-content\/uploads\/Tesla-CEO-Elon-Musk-Gets-44-Billion-For-Twitter_46587.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1616\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Lizzie Yates\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Lizzie Yates\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/zeru.com\/blog\/tesla-ceo-elon-musk-gets-44-billion-for-twitter\",\"url\":\"https:\/\/zeru.com\/blog\/tesla-ceo-elon-musk-gets-44-billion-for-twitter\",\"name\":\"Tesla CEO Elon Musk Gets 44 Billion For Twitter - Zeru\",\"isPartOf\":{\"@id\":\"https:\/\/zeru.com\/blog\/#website\"},\"datePublished\":\"2022-07-30T20:39:12+00:00\",\"dateModified\":\"2022-07-30T20:39:12+00:00\",\"author\":{\"@id\":\"https:\/\/zeru.com\/blog\/#\/schema\/person\/61005d9ec00b94bc50fbaf11b78aa55e\"},\"breadcrumb\":{\"@id\":\"https:\/\/zeru.com\/blog\/tesla-ceo-elon-musk-gets-44-billion-for-twitter#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/zeru.com\/blog\/tesla-ceo-elon-musk-gets-44-billion-for-twitter\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/zeru.com\/blog\/tesla-ceo-elon-musk-gets-44-billion-for-twitter#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/zeru.com\/blog\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Tesla CEO Elon Musk Gets 44 Billion For Twitter\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/zeru.com\/blog\/#website\",\"url\":\"https:\/\/zeru.com\/blog\/\",\"name\":\"Zeru\",\"description\":\"Blog\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/zeru.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/zeru.com\/blog\/#\/schema\/person\/61005d9ec00b94bc50fbaf11b78aa55e\",\"name\":\"Lizzie Yates\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/zeru.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/zeru.com\/blog\/wp-content\/uploads\/19-150x150.jpg\",\"contentUrl\":\"https:\/\/zeru.com\/blog\/wp-content\/uploads\/19-150x150.jpg\",\"caption\":\"Lizzie Yates\"},\"description\":\"A content marketing strategist with the Zeru team for a little over 5 years, Lizzie Yates specializes in everything digital media with a particular focus on social media and technology. Her passion? To follow how the social media sites like Instagram, YouTube, Facebook, Twitter, and TikTok are maturing over time, and what businesses can do to keep up. She shares her insights on our blog in a true outpouring of knowledge and expertise. Her knowledge about technology and social media is vast, and she is always willing to share her insights with businesses to help them stay up-to-date with the latest trends.\",\"url\":\"https:\/\/zeru.com\/blog\/author\/writer\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Tesla CEO Elon Musk Gets 44 Billion For Twitter - Zeru","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/zeru.com\/blog\/tesla-ceo-elon-musk-gets-44-billion-for-twitter","og_locale":"en_US","og_type":"article","og_title":"Tesla CEO Elon Musk Gets 44 Billion For Twitter","og_description":"Tesla CEO Elon Musk Gets 44 Billion For Twitter The Twitter board has recommended that Elon Musk buy the social network. This was not a surprise, as the company&#8217;s board had endorsed the acquisition before it was even announced. The deal is not without its uncertainties, however. Musk threatened to pull out of the deal [&hellip;]","og_url":"https:\/\/zeru.com\/blog\/tesla-ceo-elon-musk-gets-44-billion-for-twitter","og_site_name":"Zeru","article_published_time":"2022-07-30T20:39:12+00:00","og_image":[{"width":2560,"height":1616,"url":"https:\/\/zeru.com\/blog\/wp-content\/uploads\/Tesla-CEO-Elon-Musk-Gets-44-Billion-For-Twitter_46587.jpg","type":"image\/jpeg"}],"author":"Lizzie Yates","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Lizzie Yates","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/zeru.com\/blog\/tesla-ceo-elon-musk-gets-44-billion-for-twitter","url":"https:\/\/zeru.com\/blog\/tesla-ceo-elon-musk-gets-44-billion-for-twitter","name":"Tesla CEO Elon Musk Gets 44 Billion For Twitter - Zeru","isPartOf":{"@id":"https:\/\/zeru.com\/blog\/#website"},"datePublished":"2022-07-30T20:39:12+00:00","dateModified":"2022-07-30T20:39:12+00:00","author":{"@id":"https:\/\/zeru.com\/blog\/#\/schema\/person\/61005d9ec00b94bc50fbaf11b78aa55e"},"breadcrumb":{"@id":"https:\/\/zeru.com\/blog\/tesla-ceo-elon-musk-gets-44-billion-for-twitter#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/zeru.com\/blog\/tesla-ceo-elon-musk-gets-44-billion-for-twitter"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/zeru.com\/blog\/tesla-ceo-elon-musk-gets-44-billion-for-twitter#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/zeru.com\/blog"},{"@type":"ListItem","position":2,"name":"Tesla CEO Elon Musk Gets 44 Billion For Twitter"}]},{"@type":"WebSite","@id":"https:\/\/zeru.com\/blog\/#website","url":"https:\/\/zeru.com\/blog\/","name":"Zeru","description":"Blog","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/zeru.com\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/zeru.com\/blog\/#\/schema\/person\/61005d9ec00b94bc50fbaf11b78aa55e","name":"Lizzie Yates","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/zeru.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/zeru.com\/blog\/wp-content\/uploads\/19-150x150.jpg","contentUrl":"https:\/\/zeru.com\/blog\/wp-content\/uploads\/19-150x150.jpg","caption":"Lizzie Yates"},"description":"A content marketing strategist with the Zeru team for a little over 5 years, Lizzie Yates specializes in everything digital media with a particular focus on social media and technology. Her passion? To follow how the social media sites like Instagram, YouTube, Facebook, Twitter, and TikTok are maturing over time, and what businesses can do to keep up. She shares her insights on our blog in a true outpouring of knowledge and expertise. Her knowledge about technology and social media is vast, and she is always willing to share her insights with businesses to help them stay up-to-date with the latest trends.","url":"https:\/\/zeru.com\/blog\/author\/writer"}]}},"_links":{"self":[{"href":"https:\/\/zeru.com\/blog\/wp-json\/wp\/v2\/posts\/46587"}],"collection":[{"href":"https:\/\/zeru.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/zeru.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/zeru.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/zeru.com\/blog\/wp-json\/wp\/v2\/comments?post=46587"}],"version-history":[{"count":1,"href":"https:\/\/zeru.com\/blog\/wp-json\/wp\/v2\/posts\/46587\/revisions"}],"predecessor-version":[{"id":46591,"href":"https:\/\/zeru.com\/blog\/wp-json\/wp\/v2\/posts\/46587\/revisions\/46591"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/zeru.com\/blog\/wp-json\/wp\/v2\/media\/50230"}],"wp:attachment":[{"href":"https:\/\/zeru.com\/blog\/wp-json\/wp\/v2\/media?parent=46587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/zeru.com\/blog\/wp-json\/wp\/v2\/categories?post=46587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/zeru.com\/blog\/wp-json\/wp\/v2\/tags?post=46587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}