After A Protracted Legal Struggle And Several Months Of Uncertainty, Elon Musk Has Taken Over Twitter

Elon Musk takes over Twitter

According to published sources, Elon Musk fired CEO Parag Agrawal and CFO Ned Segal shortly after finalising the $44 billion deal to acquire San Francisco-based social media company Twitter. Musk tweeted “the bird has been liberated” a few hours later, making allusion to the Twitter logo.

The departures occurred just hours before a Delaware judge’s Friday deadline for the deal’s completion. If a compromise couldn’t be reached, she threatened to hold a trial. Although they happened rapidly, the significant personnel changes were widely anticipated and are very definitely the first of many significant adjustments the erratic Tesla CEO will undertake.

According to text exchanges later disclosed in court files, Musk and Agrawal had a private argument in April, just before Musk decided to make a bid for the firm. He criticised Gadde, the firm’s lead attorney, on Twitter around the same time.

Following his tweets, several other Twitter accounts started harassing Gadde. Gadde, an 11-year Twitter employee who also oversees public policy and safety, experienced racist and misogynistic abuse in addition to demands for Musk to dismiss her as a result of the harassment.

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Who Is Elon Musk?

Who Is Elon Musk?

In Pretoria, South Africa, Elon Musk was born on June 28, 1971. He was the eldest of three siblings and came from a wealthy household. He was born and raised during the latter years of Apartheid. With the aid of its Falcon 9 spacecraft, SpaceX has successfully carried out numerous contracts for NASA. after the space shuttle’s retirement in 2011, this ship took its position.

Tesla Motors’ first electric sports car, the “Tesla Roadster,” was strongly influenced by Musk’s design work. Awarded by Mikhail Gorbachev, Musk got the 2006 “Global Green” product design prize for this car. One of the most famous and prolific inventors of our time, Elon Musk is the man behind significant developments in cutting-edge technologies like space exploration and renewable energy.

However, during the course of his career, he has produced significant scientific advances despite the fact that many of his inventions look to come straight out of a science-fiction film.

After gaining his first fortune from the online payment firm “PayPal,” he invested $100 million in his space travel company, “SpaceX,” and started developing satellites, launch vehicles, and other spacecraft for NASA and for his own company, setting new records with his privately funded spacecraft.

Numerous of his ground-breaking concepts and creations are geared toward future scenarios in which fossil fuels and other resources may be harder to come by, such as commercial electric vehicles, space travel, and renewable energy.

He has received accolades and honours for both his charity work and his futuristic and creative ideas. In certain instances, popular culture presents him as a sort of real-life super hero committed to finding global answers to global issues.

Musk looks to the future, believes there may be intelligent life elsewhere in the cosmos, and continues to develop ambitious, far-reaching projects, like a human settlement on Mars. To find out everything there is to know about this renowned figure, scroll down.

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Elon Musk Early Life And Qualification

To a Canadian mother and a South African father, Musk was born in Canada. Musk was immersed in books and computers as a child. Until he developed the strength to defend himself during a growth spurt in his teen years, he was bullied by his classmates and frequently beaten up by bullies in the classroom.

When he was 12 years old, he made a video game and sold it to a computer magazine. Musk left South Africa in 1988 after obtaining a Canadian passport because he didn’t want to participate in the country’s conscription programme and he wanted to seek the better economic opportunities that the United States offered.

Musk left South Africa at age 17 to study at Queen’s University and avoid military duty there. Musk acquired Canadian citizenship in the same year, in part because he believed it would be simpler to acquire American citizenship in this manner.

In 1992, Musk immigrated to the country to attend the University of Pennsylvania to study physics and business. Prior to pursuing his second bachelor’s degree in physics, he completed his undergraduate studies in economics.

After leaving Penn, Musk attended Stanford University in California to complete a Ph.D. in energy physics. However, Elon Musk’s Ph.D. couldn’t be added to his degrees since he left Stanford after just two days to create his first company.

Elon Musk Career

However, it was reinforced by two Silicon Valley internships in 1994. Elon Musk’s future was predetermined once he fell in love with his VIC-20 in the early 1980s. An energy storage startup called Pinnacle Research Institute studied electrolytic ultracapacitors. Obsidian, Rocket Jockey, and Loadstar were produced by Rocket Science Games.

In 1995, Musk enrolled in Stanford’s Ph.D. programme. He studied the science of materials. Musk also submitted an application for an internship at Netscape, but received no response. Musk left Stanford after just two days to start his own Internet company.

Greg Kouri, Kimbal Musk, and Elon Musk launched Zip2, an online city guide developer for newspapers, with a loan from Errol. Newspaper publishers appreciated the yellow pages, maps, and instructions that Zip2 provided. Musk and his crew made $20 million when they sold Zip2 to Compaq for $300 million.

PayPal was launched by X.com, which Musk helped found. One of the first internet banks to receive federal insurance was X.com. Because of investor worries about Musk’s lack of executive experience, Bill Harris, the CEO of Intuit, took Musk’s place as CEO. Confinity and X.com merged.

Although PayPal may not be a household name, it is. Ironically, Musk was appointed CEO of the newly merged company. Those who have been following Musk for some times weren’t shocked that he stirred up controversy right away.

He divided Microsoft and Unix users by favouring Microsoft over Unix. As a result, there were technology issues and bad business models. After Musk was sacked, Tesla underwent a name change and was sold to eBay for $1.5 billion. Musk was dismissed, yet he still left with $175 million.

Elon Musk Tesla, SpaceX And More

Elon Musk Is Successfully handling Tesla, SpaceX And More

Musk started getting involved with the Mars Society after losing his job as CEO at Confinity. He began making preparations since he was enthusiastic about populating Mars. SpaceX, or Space Exploration Technologies Corp., was created in 2002 by Elon Musk with $100 million of his already sizable fortune. This company is the result of his plans.

The objective was to develop practical, inexpensive rockets that could someday transport humans to Mars. Tesla Motors, a brand-new firm, was in Musk’s sights at the same time.

Musk participated in the startup company’s Series A funding round in 2003, when engineers Martin Eberhard and Marc Tarpenning founded it, and with his $6.5 million investment, he gained the position of chairman of the board.

Musk was in charge of supervising the creation of the company’s Roadster sports automobile, despite not being significantly involved in day-to-day operations. In the end, Musk’s highly successful career would be defined by these two projects: SpaceX and Tesla.

Since then, Tesla and SpaceX have both grown to be industry juggernauts. These days, SpaceX is best recognized for their rockets, including the Cargo Dragon and Falcon 9 launch vehicles. Another option is the business’s Starlink communications satellites, which, once fully operational, will enable internet access for those who previously couldn’t do so in remote or rural locations.

Contrarily, Tesla is currently recognised for the development and production of electric vehicles, including automobiles, trucks, home and commercial battery energy storage, solar panels, and roof tiles. The world’s most valuable corporations right now include Tesla.

It’s not sufficient to just rule two distinct businesses, as one might anticipate from Musk. Always, there is more to do. The Boring Company, Neuralink, SolarCity, and other companies are among those he is engaged with.

Elon Musk Took Over Twitter

Elon Musk takes control of Twitter in $44bn deal

Musk joined Twitter in 2009 as @elonmusk and has 85 million followers as of 2022. In August 2018, he tweeted that he had “got funds” to take Tesla private at $420 per share. $420 was a joke reference to April 20, a cannabis holiday.

The SEC sued Musk the next month, stating the tweets were “false and deceptive.” Musk reportedly threatened to resign, so Tesla’s board rejected the SEC’s deal. Tesla shares plummeted, and a tougher deal was accepted. Musk stepped down as chairman for three years, but he could remain CEO.

His tweets had to be preapproved by Tesla lawyers, and both Tesla and Musk were fined $20 million. Musk criticised Twitter’s dedication to free expression, given its content-moderation practises. Musk bought over 9% of Twitter in April 2022, according to SEC filings. Musk announced he would join Twitter’s board, but he later made a $44 billion bid for the entire company at $54.20 per share.

The deal would make him Twitter’s sole owner. Musk aims to “enhance the product with new features, make the algorithms open source to promote confidence, combat spam bots, and authenticate all humans.”

Musk withdrew his proposal in July 2022, saying Twitter had not provided enough information regarding bot accounts and was in “material breach” of the purchase agreement.

Twitter’s board chair, Bret Taylor, said the firm was “committed to closing on the price and parameters agreed upon with Mr. Musk.” Twitter sued Musk to buy it. Twitter shareholders accepted Musk’s offer in September 2022. Musk closed the acquisition in October despite a court struggle.

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Sheetal

I'm a 4th Year student of Architecture Undergraduate programme at Priyadarshini Institute of Architecture And Design Studies, Nagpur. During my studies, I have worked on multiple projects and these assignments have helped me to become a great team player and how to function well in fast paced and deadline driven environments. Some of interests are Sketching, listening and exploring old music, watching documentaries and being an architectural student I like to explore the conceptual angle of every element.

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