Tuesday, April 26, 2022

How to Buy a $44 Billion Global Social Network In Less than Two Weeks

Well if there is one thing I love, it's speed and surprises!  When I think about people trying to secure an important client, speaker for a program, or a new employee at a company that can go on for months, for example; I shake my head in disbelief over Elon Musk's stunning move on Twitter.  How in the world did he do that?  No matter.  He did it. 

And it's official:  Twitter said (4/25/22) it has agreed to sell itself to Elon Musk in a roughly $44 billion deal that has the potential to expand the billionaire's business empire and put the world's richest man in charge of one of the world's most influential social networks.

The deal, which will take the company private, caps off a whirlwind period in which the Tesla and SpaceX CEO became one of Twitter's largest shareholders, was offered and turned down a seat on its board and bid to buy the company — all in less than a month [the actual play for the company, which included certainty with financing, took place in less than two weeks].

Twitter independent board chair Bret Taylor said in a statement, calling the deal "the best path forward for Twitter's stockholders."


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