Apparently not until today.
From the horse’s mouth: Trump not going to use Twitter.
Twitter is one of the worst social media platform, displaying the stupidity of mankind. The death of this app would be good for everyone.
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Does anyone know why the word truth is in all caps? Is it an acronym?
I just figured Trump is an all caps kind of guy
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The funny thing is their TOS (at least as of March which is when the article I just read was written) has both a restriction against the use of too many capital letters and an entire section in all caps. Too bad they aren’t the same section.
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The latest buzz is that Musk won’t buy Twitter and will have to pay a bunch of $$ to get out of the deal.
He can harass the Twitter owners until they back out of the deal. He will be making a lot of money from selling Tesla stock then repurchasing it
tiktok is way worse in my books
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If you say it loud enough people will believe it.
Post #2 by tfg on Truth Social. He’s looking awful lean. Seems likely to have been a photoshopped picture.
Looks about right
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Sounds like he must finally be listening to one of the adults in the room.
He may never have been serious, and did all this as a publicity stunt, and to make money buying back Tesla stock.
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Musk has terminated his agreement to buy Twitter
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What?? He said something then changed his mind??
Thats not like him at all
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Some interesting bits of info found on the BBC:
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So Elon threatens to buy Twitter and Twitter adopts a poison pill. Musk threatens to sue. Twitter relents and agrees to sell out to Musk horrifying their staff. Musk threatens to back out because he says Twitter isn’t providing him with the information he wants to, what decide if he is going to buy or how much he should pay? Didn’t he already kinda work out the deal?
Now he says he is not going to buy Twitter and now Twitter is suing Musk? Isn’t this what they originally wanted anyway?
I’m so confused, not that I really care, just kinda funny.
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I’m guessing that all he wanted was rhe information.
Prediction: Musk will create his own twitter-like social media.
But it will be recalled every three months or so.
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Yes.
I’ve done some M&A work, most times you do months of due diligence before entering a purchase agreement.
But Musk in all his intelligence decided to basically forgo all of that due diligence and went right to a purchase agreement for $44B ($54/share) and then started asking questions about bots later when he was searching for a way to get out (and the share price was around $38/share).
By the letter of the law Musk is required to buy Twitter (and you don’t want to set a precedent of billionaires signing these types of agreements then backing out at their whim). And from what I have read Twitter has a super duper high chance of winning their suit (and from what I have read the suit is either all or none, judge won’t make a lower purchase price or assign a monetary penalty to Musk).
But Musk doesn’t want to own Twitter and Twitter execs and don’t want Musk to own them. So the logical endpoint is Musk paying some large settlement ($10B-$20B???) for backing out.
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Given that most were skeptical at the time that Musk would actually pull off this deal, I’m slightly surprised that Twitter didn’t put a reverse termination fee clause in the agreement.
ETA: per the posts below there was a reverse termination fee but it was a very small one relative to the proposed deal size.