Billionaire Twitter CEO Elon Musk first offered to buy the social media platform last April. Musk's acquisition and overhaul have drawn praise and criticism.
Elon Musk, the eccentric billionaire CEO of Twitter and other firms, has drawn both criticism and praise since he moved to acquire the social media platform.on the open market on April 5, 2022. After initially offering Musk a seat on Twitter’s board of directors, the board moved to prevent Musk from attempting a hostile takeover by adopting a "poison pill" strategy that would have kicked in had Musk obtained ownership of more than 15% of the company’s stock.
Musk countered that move by offering to purchase Twitter for $54.20 per share or about $44 billion, an amount that was well above the company’s share price and market valuation at the time. He wrote that the company had been mismanaged and had violated key free speech principles and added, "Twitter has extraordinary potential. I will unlock it.
Musk re-submitted his initial $44 billion offer on the condition that Twitter forego the trial, and the two sides eventually finalized the sale on October 28, 2022, at which time
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