ELON MUSK PAYPAL EQUITY STAKE TRIAL
ELON MUSK PAYPAL EQUITY STAKE FREE

ELON MUSK PAYPAL EQUITY STAKE FREE

Reactions to the buyout were mixed, with praise for Musk's planned reforms and vision for the company, particularly his calls for greater free speech, but criticism over fears of a potential rise in misinformation, disinformation, harassment, and hate speech on the platform. was renamed X Corp., while the Twitter app was rebranded as X. Hundreds of employees then resigned from the company after Musk issued an ultimatum demanding they commit to 'extremely hardcore' work. Musk has since proposed several reforms to Twitter and laid off half of the company's workforce. Upon acquiring Twitter, Musk promptly fired several top executives, including previous CEO Parag Agrawal. Twitter was taken private and merged into a new parent company named X Corp. The deal was closed on October 27, with Musk immediately becoming Twitter's new owner and CEO.

ELON MUSK PAYPAL EQUITY STAKE TRIAL

Weeks before the trial was set to begin, Musk reversed course, announcing that he would move forward with the acquisition. The company filed a lawsuit against Musk in the Delaware Court of Chancery shortly thereafter, with a trial scheduled for the week of October 17. In July, Musk announced his intention to terminate the agreement, asserting that Twitter had breached their agreement by refusing to crack down on spambot accounts. Musk stated that he planned to introduce new features to the platform, make its algorithms open-source, combat spambot accounts, and promote free speech. On April 14, Musk made an unsolicited offer to purchase the company, to which Twitter's board initially responded with a ' poison pill' strategy to resist a hostile takeover, before unanimously accepting Musk's buyout offer of $44 billion on April 25. Twitter invited Musk to join its board of directors, an offer he initially accepted before declining. Musk had begun buying shares of the company in January 2022, becoming its largest shareholder by April with a 9.1 percent ownership stake.

on April 14, 2022, and concluded it on October 27, 2022. Business magnate Elon Musk initiated an acquisition of American social media company Twitter, Inc.

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