The Twitter platform is now owned by Elon Musk, and the current CEO, CFO and head of policy at Twitter has reportedly left the company’s office.
CFO Ned Segal and Vijaya Jade, the company’s chief policy officer who has been publicly criticized by Musk, have also reportedly asked to leave, consultant Sean Edgett has also left the company, and chief customer officer Sarah Personnet has also been fired, and the report claims that at least one of those executives has been fired. by security.
Here is the schedule of twists and turns on Elon Musk’s “Chief Twit” route:
October 28 – Victory Day:
The parties (Elon Musk and Twitter) have to close the deal by today (October 28), if they don’t, the Delaware Chancery court judge overseeing the case plans to reschedule the trial in November, and Musk made the final offer just two weeks before he was due to file a lawsuit After receiving Musk’s offer, Twitter said it intended to close the deal.
The Big Shift on October 4th:
Musk changed his mind again last October 4, submitting a letter to the Securities and Exchange Commission (SEC) confirming his commitment to the original proposal to buy Twitter for $44 billion — a deal he had indicated several months earlier was trying to elude.
How it started on January 31st:
Musk began buying Twitter shares in near-daily instalments, and raised 5% of the company’s stock by mid-March, as he wanted to
Build “Twitter 2” March 26-27:
Musk says he is seriously considering building an alternative to Twitter, questioning the platform’s commitment to “freedom of speech” and whether Twitter is undermining democracy. CEO and board members on the possibility of joining the board, Musk also mentions making Twitter private, according to subsequent organizational filings.
Become the largest contributor to Twitter – April 4:
A regulatory filing revealed that Musk quickly became Twitter’s largest shareholder after acquiring a 9% stake, or 73.5 million shares, worth about $3 billion.
Offered him a seat on Twitter’s board of directors – April 5:
Musk was offered a seat on Twitter’s board of directors with a condition of no more than 14.9% of the company’s stock, and CEO Parag Agrawal said in a tweet, “It has become clear to us that he will bring significant value to our board.”
The end of the good relationship between “Mask” and “Agarwal”:
After exchanging compliments and bonding by text about their love of engineering, Agrawal and Musk’s short-lived relationship falters after Musk publicly tweets “Is Twitter dying?” He receives a letter from Agrawal calling the criticism unhelpful, and Musk’s terse reply: “This is a waste of time, I’m going to make an offer to make Twitter private.” On April 11, CEO Agrawal announced that Musk would not be joining the board of directors after all.
Musk offers to buy Twitter – April 14-15:
Twitter revealed in a SEC filing that Musk offered to buy the company directly for $44 billion, and the company’s board of directors unanimously adopts a defense of the matter in response to Musk’s proposed offer, in an effort to thwart a hostile takeover.
Mask collects money and sells Tesla shares:
Musk raised $46.5 billion in funding to buy Twitter, Twitter’s board came under pressure to negotiate, and Musk reached a deal to buy Twitter for $44 billion and make the company private. Musk also sold $8.5 billion worth of stock in Tesla to help fund the Twitter purchase. According to regulatory filings.
– Musk reinforces his offer to buy Twitter – May 5:
Elon Musk solidified his bid to buy Twitter with commitments of more than $7 billion from a variety of investors including Oracle co-founder Larry Allison.
Elon Musk reveals his intention to lift the ban on Donald Trump:
In a hint about how Twitter could change, Musk said he would reverse the Twitter ban on former President Donald Trump following the January 6, 2021 rebellion at the US Capitol.
Twitter buy comment – May 13:
Musk has announced his plan to buy Twitter “temporarily suspended,” and says he needs to limit the number of fake accounts and spam on the social media platform. Twitter shares are faltering, while Tesla shares have rebounded sharply.
Threatening to End $44 Deal on Twitter – June 6:
Musk threatened to terminate his $44 billion deal to buy Twitter, because Twitter refused to give him the information he requested about spam accounts, and Musk says he will drop his offer to buy Twitter after the company failed to provide enough information about the number of fake accounts.
The Big Change – October 5:
Musk has offered to go ahead with his original proposal to buy Twitter for $44 billion, Twitter says it intends to close the transaction after receiving Musk’s offer, and a Delaware judge adjourns the October 17 trial until November and gives the two sides until October 28 to reach an agreement to close the deal.