Elon Musk now controls Twitter entirely. Musk’s billion-dollar plan was accepted by the microblogging site after a week of consideration. Initially, CEO Parag Agrawal and the board of directors opposed Musk’s takeover, but it is believed that shareholder pressure compelled them to make a favorable decision. Elon Musk, the Tesla CEO, now owns Twitter.
Since Musk acquired a 9.2 percent stake in Twitter, a great deal has transpired between the two businesses. Musk has made it quite clear that he has always desired to control 100% of the company and take it private. The decision to deny the offer of a board seat was part of the plan.
Now that Musk is the sole owner of Twitter, it’s worth reflecting on how it all started and where it’s headed.
- It all started when Musk advocated creating a social media app in response to his belief that Twitter violated the core notion of free speech.
- To summarize, Musk now owns 100% of Twitter. After Musk acquired Twitter, the site became a private company. The billionaire believes Twitter has enormous potential and wants to assist it in realizing its full potential. Musk’s acquisition of Twitter has the backing of Twitter co-founder Jack Dorsey. Musk believes that his acquisition of Twitter is a beneficial development for the site.