Tesla boss cancels Twitter deal – case threatening

Tesla boss cancels Twitter deal – case threatening


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Yes: Sebastian Oppenheimer

Elon Musk’s plan to buy the social network Twitter hit the headlines around the world – now the Tesla boss has finally abandoned the deal.

Statement from July 9 8:45 am: For Elon Musk, Twitter is a very important communication tool – the Tesla boss has over 100 million followers on the platform. In a short time, the undisputed general manager played with the idea of ​​setting up his own social media platform. But a little later, Elon Musk was surprised to say that he wanted to buy Twitter. However, the good businessman soon became suspicious and once stopped the deal – now it has cracked.

However, the role of backlash is not surprising at all, after all he was criticizing Twitter for a week – because of the inaccurate estimates of spam numbers and fake accounts on the platform. It is alleged that Twitter did not provide him with all the information he needed to verify the details of those fake accounts – which is why he eventually withdrew from the purchase. As the dpa news agency reports, Twitter does not want to allow the departure of the purchase agreement to be too easy. Twitter chairman Bret Taylor has threatened Musk with a lawsuit.

Statement from May 13, 2022, 8:01 pm: Tesla manager Elon Musk suspended his plan to buy Twitter on Friday. Musk wrote on Twitter that he first wanted to wait for the calculations to show that accounts without real users account for less than five percent.

Twitter shares plummeted after Musk’s tweets. After announcing that the deal was terminated, it dropped by almost a quarter and traded around $ 34.50. It later started a regular US business for over $ 40 after Musk’s second tweet. That, too, is far from the $ 54.20 per share that Musk promised shareholders. The paper went out of business on Thursday for $ 45.08 – a sign of investors’ concern that Musk was going through the deal. (And material from dpa)

Statement from April 25, 9:20 pm: The world’s richest man, technology entrepreneur Elon Musk, buys Twitter. The text message service has provided initial resistance to technology billionaire Elon Musk. The online service announced on Monday that it had reached an agreement with Musk. Musk will pay around $ 44 billion to the company and Twitter will be removed from the list. (Including material from dpa)

Statement from April 5, 11:30 am: For Elon Musk (50), Twitter is an important communication tool. It is very important that the Tesla boss has now become the largest shareholder in the text messaging service, according to a mandatory announcement that has now been published.

It’s hard one day to pass when a Tesla boss doesn’t share his thoughts with his approximately 80 million followers. Every now and then a 50-year-old asks his users for their opinions. Last year, for example, he had a vote on whether Tesla shares should be sold. In his recent vote, Musk asked for a vote if Twitter follows the principle of freedom of expression. He wrote: “The outcome of this vote will be significant.”

Elon Musk: Tesla boss buys shares on Twitter – according to a survey

Results: Approximately 70% of respondents were of the opinion that freedom of expression was not regularly exercised sufficiently on Twitter. One user even wanted to know if Musk was considering building his own social network, as former US President Donald Trump does. And the Tesla boss was also paying close attention.

It is unknown at this time what he will do after leaving the post. At least now he has bought Twitter and owns 9.2 percent stake. In total, the 50-year-old has acquired 73.5 million Twitter shares. The package is worth around $ 2.9 billion depending on Friday’s stock price. The Twitter course then increased temporarily by more than a quarter in US pre-market trading.

Elon Musk: Is Tesla boss planning to take over Twitter?

However, Musk bought the stock on March 14, two good weeks before publishing the survey on Twitter. This emerges from the SEC announcement. However, it is still unclear what plans Tesla’s boss has as a major Twitter shareholder.

Wedbush Securities analyst Dan Ives suspects “CNBC” that Musk will try to push Twitter to change. For example, replacement is also possible. At least Ives does not believe that the 50-year-old will be a silent investor: “This is just the beginning.” Musk has not yet commented on his plans on Twitter.

First report from March 28, 11:16 am: Austin (USA) – Most people would probably be more concerned with the supervision of an electric car manufacturer – not Tesla boss Elon Musk (50). He founded the tunnel construction company “Boring Company” “side” and is the CEO of SpaceX space company. But even that doesn’t seem enough – the 50-year-old is considering setting up his own social media platform.

Tesla boss Elon Musk is thinking about setting up his own social media platform. (Illustration) © Political-Moments / Imago

Elon Musk: Tesla boss is considering launching his own social media platform

There is no company boss whose posts on social media regularly make big waves like Elon Musk. More than 79 million people are following the 50-year-old on Twitter. Obviously, Tesla boss does not see freedom of expression on this platform. “Freedom of expression is essential for a functioning democracy,” writes Elon Musk – and calls on his supporters to vote on the question: “Do you think Twitter fully adheres to this principle?”

Elon Musk Social Forum? “I’m very meditative”

“The results of this investigation will be significant,” added the Tesla boss. “Please vote carefully.” More than 70 percent voted “no.” A Twitter user then asked the Tesla boss if he was considering creating a new social media platform. “I’m serious about it,” Musk replied. In fact, the Tesla boss is not allowed to send what he wants – but that also has nothing to do with the US Securities and Exchange Commission (SEC).

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His tweets frequently provoke heated debates, such as recently when the topic of a wide range of electric vehicles was discussed. Sometimes, however, Twitter users also address questions or requests directly to the Tesla boss – Elon Musk has only been asked to paralyze all Tesla and in Russia and Belarus because of the war in Ukraine.

Elon Musk Social Forum? Many others were overwhelmed by the idea

It is doubtful, however, how Elon Musk maintains freedom of expression in his own company. A Tesla employee was recently fired – allegedly, because he had criticized Tesla’s “Autopilot” or FSD system in YouTube videos. But even for Elon Musk, setting up his own social media platform will not be easy – so far it has been difficult to overtake such popular players as Facebook, Twitter and Instagram. Even Google’s largest social networking site has been frustrated with its Google+ social network. * merkur.de is an offer from IPPEN.MEDIA.