Billionaire Elon Musk on Thursday lastly took management of Twitter after the largest deal this yr saved the tech world in wait-and-watch mode for months. In his first transfer because the boss of one of many world’s hottest social networking websites, Musk is reported to have terminated Twitter chief government Parag Agrawal, chief monetary officer Ned Segal and authorized affairs and coverage chief Vijaya Gadde. Since Musk started shopping for shares of Twitter in January this yr, there have been controversies galore – from Musk dropping out of the deal to the authorized battle with Twitter.
Here’s a timeline of the occasions:
January 31: Elon Musk started shopping for shares of Twitter in near-daily installments – amassing a 5% stake within the firm by mid-March.
March 26: Musk had stated that he’s giving a “severe thought” to constructing a substitute for Twitter – questioning the platform’s dedication to “free speech” and whether or not Twitter is undermining democracy. He had additionally privately reached out to the Twitter board, together with co-founder Jack Dorsey.
Additionally learn: Parag Agrawal more likely to obtain $42 million following exit from Twitter: Report
March 27: Elon Musk started conversations with Twitter CEO and board members about probably becoming a member of the board. He had additionally talked about taking Twitter personal or beginning a competitor, in accordance with later regulatory filings. After privately informing Twitter of his rising stake within the firm, Musk begins conversations with its CEO and board members about probably becoming a member of the board. Musk additionally mentions taking Twitter personal or beginning a competitor, reported AP.
April 4: A regulatory submitting revealed that Musk has quickly develop into the biggest shareholder of Twitter after buying a 9 p.c stake (73.5 million shares) – value about $3 billion.
April 5: Musk was supplied a seat on Twitter’s board on the situation he amasses not more than 14.9 p.c of the corporate’s inventory.
April 9: The connection between Twitter chief government Parag Agrawal and Elon Musk went bitter after Musk publicly tweeted: “Is Twitter dying?” To this, Agrawal referred to as the criticism unhelpful.
April 11: Twitter CEO Parag Agrawal introduced Musk is not going to be becoming a member of the board in spite of everything.
April 14: Twitter revealed in a securities submitting that Musk has supplied to purchase the corporate for about $44 billion.
April 21: Musk lined up $46.5 billion in financing to purchase Twitter.
April 25: Elon Musk reached a deal to purchase Twitter for $44 billion and take the corporate personal. The billionaire stated that he needed to personal and privatize Twitter as a result of he thinks “it’s not residing as much as its potential as a platform free of charge speech.”
April 29: Musk offered round $8.5 billion value of shares in Tesla to assist fund the acquisition of Twitter.
Could 5: Musk strengthened his provide to purchase Twitter with commitments of greater than $7 billion from a various group of traders.
Could 10: Elon Musk stated that he would reverse the ban on former US president Donald Trump’s Twitter account following the US Capitol violence.
Could 13: Musk declared his plan to purchase Twitter is “quickly on maintain.”
June 6: Elon Musk accused Twitter of refusing to present him the knowledge he requested about its spam bot accounts and threatened to finish his $44 billion settlement.
July 12: Twitter sued Musk and requested him to finish the deal. Musk countersued.
Additionally learn: You are free to tweet: Messages reveal Elon Musk- Parag Agrawal fall out
July 19: A Delaware choose stated the Musk-Twitter authorized dispute will go to trial in October.
August 23: Former head of safety at Twitter alleged that the corporate “misled regulators about its poor cybersecurity defenses” and its negligence in making an attempt to root out pretend accounts that unfold misinformation. Musk cited the whistleblower as a brand new cause to scuttle his Twitter deal.
October 5: Musk supplied to undergo together with his authentic proposal to purchase Twitter for $44 billion.
October 6: Delaware choose delayed October 17 trial till November and gave each side till October 28 to achieve an settlement to shut the deal.
October 20: Experiences stated that Musk deliberate to put off 75 p.c of the corporate’s staff.
October 26: Musk posted a video of himself getting into Twitter headquarters carrying a kitchen sink, indicating that the deal is about to undergo. He additionally up to date his Twitter profile’s bio to “Chief Twit”.
October 27: Musk took management of Twitter and reportedly fired the corporate’s CEO, chief monetary officer, and basic counsel.
(With inputs from AP)