Tag Archives: Twitter

The Supreme Court is apparently poised to repeal the federal abortion protection of Roe v. Wade, and CEOs around the country are being called out. Some are decrying the move. Others are saying nothing. Few, if any, are publicly cheering. There is no easy playbook here. While companies have zero obligation—legal or otherwise—to take a stand on any social or political issue, they have in recent years waded into those waters (consider after George Floyd’s killing, North Carolina’s bathroom… Source link

By Jonathan Stempel (Reuters) – Elon Musk and Twitter Inc were sued on Friday by a Florida pension fund seeking to stop Musk from completing his $44 billion takeover of the social media company before 2025. In a proposed class action filed in Delaware Chancery Court, the Orlando Police Pension Fund said Delaware law forbade a quick merger because Musk had agreements with other big Twitter shareholders, including his financial adviser Morgan Stanley and Twitter founder Jack Dorsey, to support… Source link

Jack Dorsey and Elon MuskMARCO BELLO/AFP/Picture Alliance/Getty Images Twitter cofounder and former CEO Jack Dorsey “whispered” in Elon Musk’s ear that the social-media platform ought to be a private company, and other billionaire contacts pushed Musk to pursue the takeover deal he ultimately made, the Wall Street Journal reported Friday. Dorsey, who stepped down as Twitter CEO in November, has publicly and heartily supported Musk’s purchase, saying that he is a “singular solution” to leading… Source link

Experts remain mixed on the outlook for the organizational health of Twitter (TWTR) and Tesla (TSLA) following the announcement of Elon Musk’s $44 billion buyout of the social media platform. The deal is expected to close around September to October and will take the company private. However, MIT Initiative on the Digital Economy (IDE) Director Sinan Aral thinks Musk may have bitten off more than he can chew. “In this case, I think that Elon Musk is in over his head this time because… Source link

Elon Musk has lined up a new CEO for Twitter and told banks that agreed to help fund his $44 billion acquisition offer about his plans to monetize tweets, according to a new report from Reuters. A source told Reuters that Musk has decided on who he plans to appoint as the new chief executive of Twitter, but the source didn’t name the person. Twitter’s current CEO Parag Agrawal, who took the role after Jack Dorsey stepped down in November, is expected to remain as CEO until the deal is… Source link

Tesla (TSLA) shares fell on Tuesday amid investor concerns that CEO Elon Musk would need to sell shares in order to fund a portion of his $44 billion buyout of Twitter (TWTR). Meanwhile, Twitter’s shares have recovered from a late-March trough ahead of the buyout deal. Columbia Law School Professor John Coffee believes that it will be challenging for Musk to juggle managing Tesla and Twitter simultaneously — on top of SpaceX, The Boring Company, and Neuralink. “Moreover, Tesla is going… Source link

It’s official. Elon Musk is buying Twitter (TWTR) for $44 billion and will take the firm private at the close of the deal pending regulatory approval. And the move is raising a number of questions about Twitter’s future, including whether Musk will change its content moderation practices and reinstate banned users like former President Donald Trump (though Trump says he won’t return to Twitter). Fellow billionaire and Amazon founder Jeff Bezos has questions of his own — specifically,… Source link

The logos of Google, Facebook, Instagram, Twitter, Snapchat and TikTok displayed on a computer screen. Denis Charlet | AFP via Getty Images Elon Musk‘s private takeover of Twitter may boost ad revenue for YouTube, Snap, Facebook parent Meta and TikTok, analysts from several Wall Street firms said in recent notes to investors. Twitter, which announced it accepted Musk’s bid on Monday, has heavily relied on ad sales, which accounted for $1.41 billion, the lion’s share of its revenue, in the most… Source link

(Bloomberg) — Billionaire entrepreneur Elon Musk agreed to buy Twitter Inc. for $44 billion, using one of the biggest leveraged buyout deals in history to take private a 16-year-old social networking platform that has become a hub of public discourse and a flashpoint in the debate over online free speech. Most Read from Bloomberg Investors will receive $54.20 for each Twitter share they own, the company said in a statement Monday. The price is 38% more than the stock’s close on April 1, the… Source link

(Bloomberg) — Twitter Inc. is in the final stretch of negotiations about a $43 billion sale to Elon Musk that could rank as one of the biggest-ever leveraged buyouts of a listed company, people with knowledge of the matter said, placing an influential blogging platform under control of the world’s richest person. Most Read from Bloomberg An agreement would cap a monthslong saga that saw Musk amass a stake of about 9%, launch a fusillade of criticism at Twitter’s management, turn down a… Source link