Elon Musk

Most legal experts say Twitter has the upper hand. But Musk revels in brinkmanship.

In 2018, the regulator secured a $40 million settlement from Mr. Musk and Tesla over charges that his tweet falsely claiming he had secured funding to take Tesla private amounted to securities fraud. A buyer has only once successfully argued in a Delaware court that a material change in the target company’s business gives it the ability to cleanly exit the deal. (The lawsuits concluded in a broken deal and a $1 billion settlement.) The most damaging outcome for Twitter would be for the deal to collapse. A lower price would benefit Mr. Musk and his financial backers, especially as Twitter faces financial headwinds. Mr. Musk has demanded that Twitter give a detailed accounting of the spam on its platform. The agreement also requires Twitter to provide data that Mr. Musk may require to complete the transaction. Twitter’s trump card is a “ specific performance clause” that gives the company the right to sue Mr. Musk and force him to complete or pay for the deal, so long as the debt financing he has corralled remains intact. For Twitter, completing a sale to Mr. Musk is vital. Mr. Musk did not respond to a request for comment. He also said that Mr. Musk did not believe the metrics that Twitter has publicly disclosed about how many of its users were fake. Mr. Ringler argued in his letter that Twitter had violated the agreement with Mr. Musk by not providing him with detailed information about how it measures inauthentic accounts.

Elon Musk's Twitter account is suspended this afternoon, less than 24-hours after he announced he was terminating his $44 billion deal to buy Twitter Inc.

A Twitter Board statement read: "We are committed to closing the transaction on the price and terms agreed upon with Mr Musk and plan to pursue legal action to enforce the merger agreement. "Owning Twitter sounds 'cool' but the reality would not be easy, would not be fun, and would not be particularly lucrative. Twitter said in response to the document that it is "committed to closing the transaction" and plans to "pursue legal action" in order to conclude the deal. "Whoever ends up owning Twitter, the challenges for all social media are how to manage dissent and debate in a way that ends online hate speech and keeps people safe. Adam Leon Smith, of BCS, The Chartered Institute for IT and a software testing expert, told the PA news agency: "The number of spam accounts on Twitter is hardly a secret, or a surprise. One of Musk's last public messages to Agrawal came in the form of a tweet of a poop emoji in response to the Twitter CEO's defense of how the company accounts for spam bots.

Instead, we understand, based on Twitter's representations during a June 30, 2022 call with us, that Twitter includes accounts that have been suspended—and thus ...

Elon Musk officially terminated a $44 billion deal to buy Twitter on Friday, a move that would appear to dash the hopes of former President Donald Trump ...

Twitter has fully responded to all of Musk’s requests for information and doesn’t believe it has breached the merger agreement, the person said. All signs point to Twitter aggressively defending its position in court, according to a person with knowledge of the company’s thinking. Musk alleges the number is a low estimate. “We are confident we will prevail in the Delaware Court of Chancery.” Musk has repeatedly said that he would remove nearly all restrictions on what users can post, accusing Twitter of blocking free speech as it makes decisions about which content is too harmful for the site. “The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement,” Taylor said.

Elon Musk is reportedly avoiding discussing the termination of his $44 billion Twitter takeover while giving his speech at the Sun Valley tech mogul ...

May 13: Musk said that his plan to buy Twitter is ' temporarily on hold.' Musk said that he needs to pinpoint the number of spam and fake accounts on the social media platform. April 25: Musk reaches a deal to buy Twitter for $44 billion and take the company private. Musk is currently embroiled in a months-long deal to buy Silicon Valley social media giant Twitter for roughly $44 billion. The break-up fee would not be applicable, however, if Musk terminates the deal on his own. With its tumble after the bell on Friday, Twitter was trading at its lowest since March. April 5: Musk is offered a seat on Twitter's board on the condition he amass no more than 14.9% of the company's stock. Musk appears relaxed over the tumultuous deal. But it feels like the end of the movie, where the characters are bloodied and bedraggled with a Michael Bay explosion behind them. Musk initially offered $54.20 per share in April, but the price was down to $36.81 on Friday night. Musk also mentions taking Twitter private or starting a competitor, according to later regulatory filings. He also privately reaches out to Twitter board members, including his friend and Twitter co-founder Jack Dorsey. Twitter CFO Ned Segal (right) is among the attendees.

Musk's remarks, which focused on Mars and birth rates, took place one day after he announced he is pulling out of his $44 billion deal to buy Twitter.

Both are familiar topics for Musk. He recently tweeted, "Doing my best to help the underpopulation crisis," after Insider reported that he fathered previously unknown twins in November with Shivon Zilis, a top executive at Neuralink, one of his companies. Speculation over whether Musk would discuss the Twitter deal had been mounting even before Friday in the days leading up to the annual conference, which convenes top executives in tech, media, and finance to Sun Valley, Idaho, for a few days of hobnobbing and deal-making. Musk devoted most of his remarks to the topics of building a society on Mars and his belief in the need to boost birth rates on Earth, one source told Reuters.

Musk avoided discussing the collapsed Twitter deal as he addressed an audience of moguls in Sun Valley, two sources who attended the conference told ...

"People are now saying, 'Wow, will people really pay for three of these things?'" "It just seems like an absolute mess," said one senior media executive, who spoke on condition of anonymity ahead of the interview. Musk, chief executive of Tesla and rocket company Space X, has long advocated establishing a civilization on the red planet.

The interview was conducted by Sam Altman, CEO of OpenAI, an artificial intelligence research company, funded by Musk and several others.

The document, filed with the Securities and Exchange Commission, alleged Twitter failed to respond to repeated requests for information over the past two months, or obtain his consent before taking actions that would impact its business -- such as firing two key executives. One digital media executive said Hollywood, which has typically been insulated from recessions, is suddenly worried about how a worsening economy will affect their multi-billion-dollar investments in streaming services. “It just seems like an absolute mess,” said one senior media executive, who spoke on condition of anonymity ahead of the interview.

Elon Musk's battle with Twitter escalates after the billionaire Tesla CEO said he was calling off his $44 billion purchase agreement.

The deal has cast a cloud of uncertainty and hurt morale. BOND: And how damaged will the company be on the other side? Twitter says it shared information with Musk. But in a letter to the company on Friday, Musk accused it of refusing to give him what he needs to verify those claims and of making, quote, "false and misleading representations." Its share price has fallen sharply, and investors are counting on the $54.20 a share Musk promised to pay. For Twitter, the stakes are higher, and that's why it may go as far as suing its unwilling buyer to get the deal done. ELON MUSK: In making the Twitter offer, I was obviously reliant upon the truth and accuracy of their public filings.

Tesla CEO Elon Musk filed to end his $44 billion merger agreement with Twitter on July 8, citing a “material breach” in the deal's provisions. POOL/AFP via ...

In an interview with the Sunday Times published this weekend, Tosca Musk discussed how she did not want her kids to view Elon differently than just being ...

[Elon and I] are not the same person," she noted. "And I certainly didn't want to go through brutal divorces." "A collapsing birth rate is the biggest danger civilization faces by far," he said. "He's exceptional in so many ways and his goals to help humanity are beyond anything that anybody can imagine," she continued. During the chat with the Times, Tosca also opened up about her love life, sharing that she has never had a truly meaningful romantic relationship. "And they don't understand why people would say [negative] things about him."