Home Business Elon Musk takes on Twitter in five key dates

Elon Musk takes on Twitter in five key dates


The multi-billionaire Elon Musk reached an agreement on Monday April 25 with the board of directors of Twitter to acquire the entirety of the famous social network with the blue bird.

→ THE FACTS. Elon Musk offers to buy Twitter

By buying back each share at a price of 54.20 dollars, the boss of Tesla values ​​the social network at around 44 billion dollars. Elon Musk thus becomes the owner of the platform which he considers to be “the digital public square where vital subjects for the future of humanity are debated”.

► June 2009, Elon Musk joins Twitter

In June 2009, the boss of Tesla joined the blue bird social network. Today, the billionaire abounds his account daily with more than 83 million subscribers with publications that are eclectic to say the least, alternating between rocket videos, shots from space, dubious jokes or publicity stunts about his companies.

► August 7, 2018, Elon Musk publishes information deemed “false and misleading” about Tesla

On August 7, 2018, Elon Musk published a Tweet in which he indicates that he has sufficient funding to take Tesla out of the stock market. This tweet will subsequently earn him a lawsuit brought by his investors who accuse him of having committed fraud.

→ PORTRAIT. Elon Musk, troublemaker who became the richest man in the world

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In a decision made public in April 2022, American justice agrees with its investors and confirms that the leader of Tesla “made these false statements recklessly and with full knowledge of the facts which he misrepresented in his tweets”. The regulator then imposed on him to cede the presidency of the board of directors of Tesla, to pay a fine of 20 million dollars. He also demanded that his tweets directly related to the activity of his company, be pre-approved by a competent lawyer.

► March 25, 2022, Elon Musk campaigns for a zone of absolute freedom of expression

On March 25, 2022, the American billionaire published a series of messages in which he plans to create his own platform. Twitter does not respect freedom of expression enough, he says. “Freedom of expression is essential to the functioning of a democracy. Do you believe that Twitter strictly adheres to this principle? », he writes in parallel with a survey in which more than two million of his subscribers participated.

► April 5, 2022, Elon Musk becomes the first shareholder of Twitter

In April 2022, Elon Musk bought 9.2% of the capital of Twitter. He thus becomes the first shareholder of the famous social network whose capitalization amounts to more than 30 billion dollars.

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→ EXPLANATION. Twitter will test a button allowing users to edit a message

A few days later, Twitter announces that it is working on the development of a new feature allowing you to modify a tweet even when it has already been published. A request which was notably carried by the boss of Tesla for many years.

►April 14, 2022: Elon Musk offers to buy all of Twitter

On April 14, Elon Musk tweeted that he was considering buying the entire social network in order to take the company out of the stock market. In a document filed with the American stock market policeman (SEC), the billionaire claimed to have taken out two loans, one for 13 billion dollars and another for 12.5 billion. He also planned to spend $21 billion of his personal fortune to complete the takeover.

→ REREAD. Twitter adopts plan to counter Elon Musk takeover bid

Twitter’s board of directors strongly opposed this acquisition by adopting a so-called “poison pill” to make redemption more difficult. The leader of Tesla and SpaceX had then considered resorting to a hostile takeover without confirming this hypothesis.

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