Elon Musk and Twitter Reach Deal for Sale (Update: WSJ report details Musk’s relationship with Putin) (2 Viewers)

[SaintForLife]

Elon Musk struck a deal on Monday to buy Twitter for roughly $44 billion, in a victory by the world’s richest man to take over the influential social network frequented by world leaders, celebrities and cultural trendsetters.

Twitter agreed to sell itself to Mr. Musk for $54.20 a share, a 38 percent premium over the company’s share price this month before he revealed he was the firm’s single largest shareholder. It would be the largest deal to take a company private — something Mr. Musk has said he will do with Twitter — in at least two decades, according to data compiled by Dealogic.

“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” Mr. Musk said in a statement announcing the deal. “Twitter has tremendous potential — I look forward to working with the company and the community of users to unlock it.”

The deal, which has been unanimously approved by Twitter’s board, is expected to close this year, subject to a vote of Twitter shareholders and certain regulatory approvals.

The blockbuster agreement caps what had seemed an improbable attempt by the famously mercurial Mr. Musk, 50, to buy the social media company — and immediately raises questions about what he will do with the platform and how his actions will affect online speech globally.

Elon Musk and Twitter Reach Deal for Sale

Twitter agreed to be taken over at $54.20 a share, a 38 percent premium over the share price before it was revealed that Mr. Musk had been buying up the company’s stock.

www-nytimes-com.cdn.ampproject.org

If Musk does what he claims he wants to do it will be a big improvement and good for free speech.

 

[bird]

At the rate he's going, he won't have anybody left to fire in about 2 weeks, lol.

I would love it if the OPM he used in this transaction demanded their money back.

 

[MT15]

 

[MT15]

This doesn’t make him seem like a soft, fragile snowflake. No not at all, lol

 

[SaulGoodmanEsq]

This doesn’t make him seem like a soft, fragile snowflake. No not at all, lol

Not surprising in the least. You'd think having eighty berjillion dollars would make you not care about what other people said about you.

 

[UriUT]

Twitter employees quit in droves after Elon Musk's ultimatum passes

The billionaire gave employees of his newly-purchased company until Thursday evening to commit to "being extremely hardcore" and staying or take a severance package.

www.npr.org

WoW. If I'm to assume, these employees likely had stock options. When Musk paid 44 billion, that likely means they got paid beaucoup $$$. Which then means the decision to leave isn't difficult on top of the 3 months severance. And the consequences of Twitter failing means the Tesla stocks he used to borrow that money must be liquidated? Probably someone can better educate me on that. If so that means Tesla stocks will further fall.

And more salt on the wound...

Cutting back on content moderation could also land Musk in hot water with European regulators. German law, for example, requires social networks to quickly remove illegal content or face fines.

 

[coldseat]

"Petulant Pimple"

This is the ultimate car wreck. Crazy to watch the (likely) former riches man in the world pay 44 billion for a company to just destroy it in 3 weeks.

https://d21rhj7n383afu.cloudfront.net/washpost-production/The_Washington_Post/20221118/6377024660d59c030dd5beb0/637703285d1e1f57baa1b3de/file_1280x720-2000-v3_1.mp4

 

[coldseat]

Wow, . Apparently this is real.

They need to reverse the trajectory and put a little blue bird at the bottom as the target.

GOATSgiving: Giant sculpture of Elon Musk as a goat, riding a rocket is coming to Austin

Elon GOAT Token has really stepped outside the box and did something no other Crypto project has dared to do. We built Elon Musk a $600,000 monument on the back

news4sanantonio.com

 

[CrowFlies]

a 44bil clusterfk. is what musk is.

twitter will be gone before or by dec 1. betcha.

 

[samiam5211]

Wow, . Apparently this is real.

They need to reverse the trajectory and put a little blue bird at the bottom as the target.

GOATSgiving: Giant sculpture of Elon Musk as a goat, riding a rocket is coming to Austin

Elon GOAT Token has really stepped outside the box and did something no other Crypto project has dared to do. We built Elon Musk a $600,000 monument on the back

news4sanantonio.com

That looks like a dog-man humping a rocket.

 

[MT15]

So, in an effort to promote total free speech Musk invents …. shadow banning. Lol

 

[SaulGoodmanEsq]

 

[DaveXA]

Even Musk has to draw a line somewhere.

 

[The moose]

Twitter employees quit in droves after Elon Musk's ultimatum passes

The billionaire gave employees of his newly-purchased company until Thursday evening to commit to "being extremely hardcore" and staying or take a severance package.

www.npr.org

WoW. If I'm to assume, these employees likely had stock options. When Musk paid 44 billion, that likely means they got paid beaucoup $$$. Which then means the decision to leave isn't difficult on top of the 3 months severance. And the consequences of Twitter failing means the Tesla stocks he used to borrow that money must be liquidated? Probably someone can better educate me on that. If so that means Tesla stocks will further fall.

And more salt on the wound...

I yeah the tesla stock went from 400 to like 170 in the last year. It is all gonna burn down. SpaceX is still a private company so we have no real idea how bad it is actually doing. Just like the tunnel company it is private.

Who I feel for is all the people that worship him that own tesla stock. I guess I shouldn't because the false promises after false promises should have been a warning.

I read an article the other day he could have easily got a car company for that money and you would be shocked what the list of car companies worth less than 44 billion. That would have been the smart move to get a company that is good at building cars to help with what tesla is poor at. Then the same time he would have a whole new platform to convert.

When I read that he could have got Suzuki car company for half that price I just ha visions of ev jimny's and all the other kei platforms that they own. That would have made a mountain of money

 

[SaulGoodmanEsq]

I've never understood the success of Tesla. They are prohibitively expensive for the average American.

 

[The moose]

I've never understood the success of Tesla. They are prohibitively expensive for the average American.

That is why they are successful to a point.

They are like Rolex never build enough so demand never goes away. Makes them exclusive kinda but it really just means you had to work to buy it and waited.

The credit he gets for the cars is kinda silly. The non wheel shaped steering wheel would never be done by a real car company and is stupid for a car. It is not a jet or F1 car it doesn't steer that quick you have to turn that thing.

They are getting ready to get their arses handed to them by companies that build cars. The constant broken promises of the electric big rig are silly we have been a year away since 2017.

They are selling tech cars to tech people. If they wanted to they would own the the commercial light van segment that ford will completely own now. They should have put priority on commercial vehicles rather than a SUV with silly doors or a sedan that goes stupid fast. Then again that would not make him a star just successful.

They will survive but won't be a leader in any segment real quick.

I understand how he is a con man and made it work this far. It was with government money and state help. I just can't understand how people don't see it.

They just sentenced the blood text con woman for dropping 10 billion of others people's money. Yet Elon has dropped that per month with Tesla for months now.

Can't wait until the trash social media of Twitter and Facebook crash and burn to nothing.


I would image Twitter won't make it thru the year it will be irrelevant quickly.

Oh well gotta get marshmallows at the store to toast while it burns down.

 

[DaveXA]

I've never understood the success of Tesla. They are prohibitively expensive for the average American.

I dunno. Where I live it seems like there's a Tesla in every other driveway. But then, it's a mostly upper middle class community.

 

[MT15]

I dunno. Where I live it seems like there's a Tesla in every other driveway. But then, it's a mostly upper middle class community.

It’s been a status symbol for mostly progressive young professionals. Which is exactly who Musk is alienating with every tweet these days. If anyone ever thought he was in any way a smart man, we have been relieved of that thought.

 

[SaulGoodmanEsq]

Looks like Trump will probably be reinstated to Twitter just based on the publicity alone. But that's a good thing for Democrats. Especially if DeSantis enters the race.