Elon Musk , May Temporarily Take Over , as Twitter's CEO After Acquisition.
According to NBC, sources say Elon Musk may
serve as Twitter's temporary CEO after completing
his $44 billion takeover of the social media company. .
According to NBC, sources say Elon Musk may
serve as Twitter's temporary CEO after completing
his $44 billion takeover of the social media company. .
A May 5 SEC filing revealed that Musk
had secured about $7.14 billion in equity
commitments toward buying Twitter. .
A May 5 SEC filing revealed that Musk
had secured about $7.14 billion in equity
commitments toward buying Twitter. .
Contributions were reportedly , made by a number of, handpicked investors. .
Contributions were reportedly , made by a number of, handpicked investors. .
Those investors include
Honeycomb Asset Management
and Oracle co-founder Larry Ellison. .
According to NBC, Twitter co-founder Jack Dorsey may also support Musk's takeover and could even contribute shares prior to the acquisition.
According to NBC, Twitter co-founder Jack Dorsey may also support Musk's takeover and could even contribute shares prior to the acquisition.
NBC reports that Twitter's current
CEO, Parag Agrawal, has only been
in charge of the company for a few months. .
NBC reports that Twitter's current
CEO, Parag Agrawal, has only been
in charge of the company for a few months. .
Last November, control of the company was handed over , by Twitter co-founder Jack Dorsey.
During a company-wide town hall meeting with
employees last month, Agrawal reportedly said that
the future of the company was uncertain under Musk.
Once the deal closes, we don’t know
which direction the platform will go, Parag Agrawal, Twitter CEO, via NBC.
According to Twitter's latest earnings report,
the company has 229 million active daily users,
up 15.9% from the same time last year.
Credit: Wibbitz Top Stories Duration: 01:31Published
Elon Musk Secures , Over $7 Billion More in Twitter Funding.
CNBC reports that according to an SEC filing on May 5, Musk has procured another $7.14 billion from a group of investors to buy Twitter.
Some of the investors include
Oracle co-founder Larry Ellison... .
... and Saudi Arabian Prince
Alwaleed bin Talal Al Saud, who initially objected to the buyout but has seemingly been convinced to invest.
... and Saudi Arabian Prince
Alwaleed bin Talal Al Saud, who initially objected to the buyout but has seemingly been convinced to invest.
Qatar Holding and Vy Capital are
part of the investor group as well.
CNBC reports that according to the filing, Musk's margin loan has been reduced to $6.25 billion.
His financing commitment was also
updated to $27.25 billion.
CNBC reports that Musk will continue talking with Twitter shareholders, including Jack Dorsey, in an attempt to contribute shares to the acquisition.
CNBC reports that Musk will continue talking with Twitter shareholders, including Jack Dorsey, in an attempt to contribute shares to the acquisition.
On May 5, Twitter shares were up
about 2.9% before the opening bell.
Still, shares remain below
Musk’s offer of $54.20 as
investors are unsure if the
deal will actually go through
Credit: Wibbitz Top Stories Duration: 01:30Published
Jack Dorsey , Calls Twitter's Board of Directors the, 'Dysfunction of the Company'.
On April 16, Twitter cofounder
Jack Dorsey called out the social
media platform's board, claiming , “it’s consistently been the
dysfunction of the company.”.
On April 16, Twitter cofounder
Jack Dorsey called out the social
media platform's board, claiming , “it’s consistently been the
dysfunction of the company.”.
The comment reportedly came
in response to another user's tweet. .
Venture capitalist Gerry Tan originally posted, "The wrong partner on your board can literally
make a billion dollars in value evaporate.".
Venture capitalist Gerry Tan originally posted, "The wrong partner on your board can literally
make a billion dollars in value evaporate.".
It is not the sole reason behind every startup failure, but it is the true story a surprising percentage of the time, Gerry Tan, via Twitter.
Dorsey's comment came
in reply to another user's
comment on the tweet. .
If [sic] look into the history of [the] Twitter
board, it’s intriguing as I was a witness
onits early beginnings, mired in plots and
coups, and particularly amongst Twitter’s
founding members. I wish if [sic] it could
be made into a Hollywood thriller one day, Twitter user, via Yahoo.
If [sic] look into the history of [the] Twitter
board, it’s intriguing as I was a witness
onits early beginnings, mired in plots and
coups, and particularly amongst Twitter’s
founding members. I wish if [sic] it could
be made into a Hollywood thriller one day, Twitter user, via Yahoo.
In response to this,
Dorsey tweeted, “It’s consistently been
the dysfunction of the company.”.
In November, Dorsey stepped
down as the Twitter's CEO.
According to a Twitter news release from last year,
Dorsey will remain a member of the company's board, "until his term expires at the
2022 meeting of stockholders.".
According to a Twitter news release from last year,
Dorsey will remain a member of the company's board, "until his term expires at the
2022 meeting of stockholders.".
The comment by Dorsey comes after Twitter announced a limited duration shareholder rights plan should they want to ward off Elon Musk's $43 billion offer to buy the company. .
The comment by Dorsey comes after Twitter announced a limited duration shareholder rights plan should they want to ward off Elon Musk's $43 billion offer to buy the company. .
Yahoo reports that shares in Twitter
have risen roughly 15% since Musk announced
his 9.2% stake in the company on April 4. .
Yahoo reports that shares in Twitter
have risen roughly 15% since Musk announced
his 9.2% stake in the company on April 4.
Credit: Wibbitz Top Stories Duration: 01:31Published
Twitter Announces, Long-Awaited Plan for Adding, an Edit Feature.
It's been a, big week, for Twitter. .
On April 4, news broke that billionaire
Elon Musk had purchased a massive
$3 billion stake in the company.
On April 4, news broke that billionaire
Elon Musk had purchased a massive
$3 billion stake in the company.
CNET reports that shortly after, Musk asked
fans in a Twitter poll if they would
like to see the platform add an edit feature. .
CNET reports that shortly after, Musk asked
fans in a Twitter poll if they would
like to see the platform add an edit feature. .
On April 5, the social media platform
revealed that Musk would be joining
the company's board of directors. .
The next day, Twitter
announced solid plans
for the platform's
long-talked-about edit feature. .
CNET reports that the feature has been
in development for the last year. .
The new feature will first
be tested on Twitter Blue. .
Twitter Blue is a subscription service
that lets users undo tweets
and read ad-free articles. .
Despite users asking for the edit feature for years,
former Twitter CEO Jack Dorsey said that the platform would "probably never" add one in a 2020 interview. .
Despite users asking for the edit feature for years,
former Twitter CEO Jack Dorsey said that the platform would "probably never" add one in a 2020 interview. .
CNET reports that the big announcement
comes just days after Twitter joked about
adding the feature in an April Fools' Day post. .
CNET reports that the big announcement
comes just days after Twitter joked about
adding the feature in an April Fools' Day post. .
Musk's massive purchase of Twitter stock reportedly
projected the Tesla CEO to the number one spot
on the 'Forbes' annual World's Billionaire List. .
Musk's massive purchase of Twitter stock reportedly
projected the Tesla CEO to the number one spot
on the 'Forbes' annual World's Billionaire List. .
Prior to falling to the number two spot,
Amazon CEO Jeff Bezos had topped the list
as the world's richest person for four years. .
Prior to falling to the number two spot,
Amazon CEO Jeff Bezos had topped the list
as the world's richest person for four years.
Credit: Wibbitz Top Stories Duration: 01:30Published
Elon Musk, Becomes Twitter's Biggest Shareholder, With $2.9 Billion Stock Purchase.
Tech billionaire Elon Musk has purchased
a huge $3 billion stake in Twitter. .
Tech billionaire Elon Musk has purchased
a huge $3 billion stake in Twitter. .
'The Guardian' reports that Musk
had indicated interest in building his own
social media platform just last week. .
According to filings made with the
U.S. Securities and Exchange Commission,
Musk now owns a 9.2% stake in Twitter. .
Comparatively, that is over
four times the 2.25% stake held
by Twitter founder Jack Dorsey.
Comparatively, that is over
four times the 2.25% stake held
by Twitter founder Jack Dorsey.
Musk is one of Twitter's top 10
most popular users in the world with
over 80 million followers on the platform.
Musk is one of Twitter's top 10
most popular users in the world with
over 80 million followers on the platform.
We would expect this passive stake
as just the start of broader conversations
with the Twitter board/management that
could ultimately lead to an active stake
and a potential more aggressive
ownership role of Twitter, Dan Ives, Analyst at Wedbush Securities, via 'The Guardian'.
We would expect this passive stake
as just the start of broader conversations
with the Twitter board/management that
could ultimately lead to an active stake
and a potential more aggressive
ownership role of Twitter, Dan Ives, Analyst at Wedbush Securities, via 'The Guardian'.
'The Guardian' reports that after news
of Musk's purchase broke, shares in Twitter
rose as much as 26% in pre-market trading. .
The jump added over $8 billion
to the $31.5 billion market value
of the microblogging site. .
According to 'The Guardian,' that almost immediately increased the value of the shares purchased by Musk to approximately $3.6 billion. .
Musk has amassed a personal fortune of about
$289 billion, almost $100 billion more than the world's
second richest man, Amazon founder Jeff Bezos. .
Musk has amassed a personal fortune of about
$289 billion, almost $100 billion more than the world's
second richest man, Amazon founder Jeff Bezos.
Credit: Wibbitz Top Stories Duration: 01:31Published
Twitter Announces, Elon Musk Will Join, the Company's Board of Directors.
Twitter Announces, Elon Musk Will Join, the Company's Board of Directors.
ABC reports that Elon Musk will
join Twitter's board of directors.
The news comes just one day after
the world's richest man purchased
a 9% stake in the social media platform. .
On April 5, Twitter Inc. said in a regulatory filing
that Musk's term on the board will expire at the
company's 2024 annual shareholder meeting. .
According to the agreement, Musk won't be able to
purchase more that 14.9% of Twitter's outstanding
stock while serving on the board or for 90 days after. .
According to the agreement, Musk won't be able to
purchase more that 14.9% of Twitter's outstanding
stock while serving on the board or for 90 days after. .
Twitter CEO Parag Agrawal shared his support for
Musk joining the social media company's board. .
He’s both a passionate believer and intense
critic of the service which is exactly what
we need on @Twitter, and in the boardroom,
to make us stronger in the long-term, Parag Agrawal, Twitter CEO, via ABC.
On April 4, Musk purchased 73.5 million shares
in Twitter, estimated at about $3 billion. .
Shares of Twitter rose more
than 6% in pre-market trading. .
In the past, Musk has openly questioned Twitter's
dedication to free speech and the First Amendment.
Musk has yet to specifically discuss
any rule changes that he intends
to push at Twitter, though he did
tweet that he is looking to make , "significant improvements
to Twitter in coming months!".
Musk has yet to specifically discuss
any rule changes that he intends
to push at Twitter, though he did
tweet that he is looking to make , "significant improvements
to Twitter in coming months!".
ABC reports that Musk is currently
involved in a bitter dispute with the SEC
regarding his ability to post on Twitter.
ABC reports that Musk is currently
involved in a bitter dispute with the SEC
regarding his ability to post on Twitter.
According to Musk's legal team,
the SEC has infringed on the billionaire's
First Amendment rights. .
According to Musk's legal team,
the SEC has infringed on the billionaire's
First Amendment rights.
Credit: Wibbitz Top Stories Duration: 01:31Published
Parag Agarwal will be replacing Jack Dorsey as the new CEO of Twitter. Agrawal, an alumnus of the Indian Institute of Technology (IIT) Bombay, was appointed Twitter CTO on March 8,..
Parag Agrawal To Replace Jack Dorsey , As Twitter CEO.
Parag Agrawal To Replace Jack Dorsey , As Twitter CEO.
On Nov. 29, Twitter announced that the company's chief technology officer, Agrawal, will..
Credit: Wibbitz Top Stories Duration: 01:30Published
Celebrities Remember , Virgil Abloh.
Abloh died on Nov. 28
following a battle with cancer. .
He was the artistic director of Louis Vuitton menswear and founder of the fashion company Off-White.
He..
Credit: Wibbitz Top Stories Duration: 01:30Published
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