Elon Musk finally seems to have broken his silence on reports that he has decided to acquire Twitter for $54.20 per share, or about $44 billion original price.
Late Tuesday night, Musk made a comment on his social media platform referring to something called “X.”
The Twitter acquisition is what drives the creation of X, which is all apps.
— Elon Musk (@elonmusk) October 4, 2022
One of Musk’s disciples It pointed out Musk told billionaires it might have been ‘easier to start X from scratch’ responded He quickly added that the Twitter acquisition could “probably accelerate X by three to five years,” and that estimate “could be wrong.”
bloomberg X thought it could be similar in nature to China’s WeChat app, which has over a billion users.
“There is no equivalent of WeChat outside of China. Basically, we live in WeChat in China. said in a virtual all-hands session with
early Wednesday morning, wall street journal Musk’s team and Twitter reported that they had not reached an agreement to end the legal battle, citing “sources familiar with the lawsuit.”
Neither party has publicly confirmed as of Wednesday afternoon.
In August, Musk tried to back out of the Twitter acquisition, but when one of his followers asked if he would consider creating a website to compete with the social media platform, he said, “X.com.” answered.
The domain Musk currently owns was purchased from PayPal in 2017.
At Tesla’s annual shareholder meeting in August, Musk said, “I have a much grander vision of what I thought X Corporation could have been at the time.” We could start with, but I think Twitter will accelerate that by three to five years.”
Musk didn’t elaborate further on what exactly the “X” means.
See original story below.
A potentially ironic solution to the seemingly endless Elon Musk vs. Twitter narrative is bloomberg On Tuesday, Musk now claimed to be closing its acquisition of the social media platform at an original offer price of $54.20 per share, bringing the total to about $44 billion.
The request to proceed with the purchase is reportedly in a letter to Twitter on behalf of Musk’s team.
Musk and Twitter were scheduled to face each other in court on October 17, and if the trial went as planned, key witnesses could be named as early as tomorrow.
Last week, texts from Musk and a number of colleagues and business associates (including Twitter CEO Parag Agrawal) were released, putting Musk in a “weaker legal position” ahead of the trial, analysts said.
For example, the text dump contained a message about how Musk wasn’t interested in management. Reported It could be an ugly legal battle and is unlikely to rule in Musk’s favour.
RELATED: What’s Happening With Elon Musk and Twitter?
The billionaire has been trying for months to withdraw his original bid to buy the company, claiming Twitter was inconsistent and lying about the number of spam and bot accounts on its website.
Twitter’s share price jumped nearly 13% in the 24 hours following the news, around 12:30 PM ET, and is reported to have surged 18% in the same period the news broke.
Shortly after 12:35 PM ET, Twitter’s inventory was taken down.
For more on how the battle between Elon Musk and Twitter that started in April ended, read here.
This is a developing story.