Elon Musk $44 Billion Twitter deal
 

BREAKING: Worlds richest person, Elon Musk buys Twitter for $44 Billion.

https://www.bbc.co.uk/news/business-...at_campaign=64

The purchase could result in former U.S President Donald Trump’s Twitter account being reinstated, as Elon Musk vows to bring free speech back to the platform.

Re: Elon Musk buys Twitter for $44 Billion
 

BREAKING - Twitter has been sold to Elon Musk and will go private after agreeing to a deal worth $44 billion.

So pretty much confirmed. How he decides to run it remains to be seen.

Re: Elon Musk buys Twitter for $44 Billion
 

As my dad says £34.6 billion, is obscene.


More money than some countries have.

Re: Elon Musk buys Twitter for $44 Billion
 

Totally agree. It just highlights the obscenity of Billionaires

Re: Elon Musk buys Twitter for $44 Billion
 

He's welcome to it.

Re: Elon Musk buys Twitter for $44 Billion
 

It's rather sad we're in a place where someone can spend that amount of money seemingly on a whim because he is annoyed at their moderation policies.

I suggest we preemptively ban Elon Musk from here and await the ££££.

Re: Elon Musk buys Twitter for $44 Billion
 

There’s a bit more to it than that, but I take your point

Re: Elon Musk buys Twitter for $44 Billion
 

:tu:

Re: Elon Musk buys Twitter for $44 Billion
 

Someone done a visual representative of wealth in rice. With 1 grain of rice = $100,000 Elon's wealth would be over 50kgs of rice. Mind boggling to say the least.

Re: Elon Musk buys Twitter for $44 Billion
 

The most mind boggling thing of all is that so many people see no problem with this.

Re: Elon Musk buys Twitter for $44 Billion
 

His statement said something about verifying humans which suggests an account would be linked to a person. Might cut down on trolling and be a good solution to the moderation issue. Yes, you have better 'free speech' but you'll also have less protection against consequences for it.

Re: Elon Musk buys Twitter for $44 Billion
 

Does this mean that 50% of twitter accounts would disappear as they're bots?

Re: Elon Musk buys Twitter for $44 Billion
 

What's the problem.

Twitter in it's current form banned the POTUS, Buried the Hunter Biden scandel, and summarily bans any discourse it disagrees with.

It will now just be owned by someone else with that power.

Re: Elon Musk buys Twitter for $44 Billion
 

So "better free speech" is to entail only opinions that are allowed without the risk of being "cancelled" in some way or another? Just because certain people don't like certain opinions/facts, doesn't mean they aren't true.

Wealth can only be realised, if others have the money to exchange with you. Others will have to exchange the money with him, in order for him to exchange it with the Facebook shareholders, who can then spend or invest it.

Certain people would only seem to be happy if nobody created anything. The money for loans of whatever kind(government borrowing, mortgages, business loans, etc) can only happen with money from those with surplus money.

Re: Elon Musk buys Twitter for $44 Billion
 

Hopefully

Re: Elon Musk buys Twitter for $44 Billion
 

Twitter is not a bad thing, it’s where I get all my verified stuff on Ukraine from, it’s just it’s been run by chaps from Silicon Valley, heavily censor conservatives. Banned a sitting President of the U.S for incitement to violence, yet folk like leader of Iran and Putin guilty of more serious issues, are allowed to keep their accounts. It needed an overhaul, Trump said he won’t return to Twitter, but if he intends to run in 2024, he’s going to need his account especially with a following of 88.7 Million people.

Re: Elon Musk buys Twitter for $44 Billion
 

Trying to control the internet was/is never going to work..The WWW was never meant to be controlled by anyone in it's first conception.Originally it was run by children and the grown ups cottoned too late that it's not an animal they can control. Doesn't stop them trying though.

The best thing parents/teachers can do is make sure they take a close and keen interest what their children are doing until said children have grown enough to actually apply some critical thinking to what they see on the internet.

Using the internet critically SHOULD be taught on the education syllabus from as early as possible.

Re: Elon Musk buys Twitter for $44 Billion
 

I remember my then young daughter asking me what rhe difference is between a million and a billion so we did it in seconds, 1 million seconds is 12 days, 1 billion seconds is 31 years :shocked:

Re: Elon Musk buys Twitter for $44 Billion
 

A huge number of accounts are unused anyway.
If they got purged due to inactivity, millions would vanish.
I have one somewhere, but I could not tell you when I last logged into it.

Re: Elon Musk buys Twitter for $44 Billion
 

Oops…

https://12ft.io/proxy?q=https://www....h=7bd71ff6707c

Re: Elon Musk buys Twitter for $44 Billion
 

What an awful lot of money!


Who knows, in ten years time we may say "Twitter? What on earth is Twitter?". It may not even exist and all that money is wasted.


With hunger and poverty affecting many people right now money could be much better spent.


What I worry about when people take over these huge platforms is the ways they can channel information or their own political ideas to brainwash people.

Re: Elon Musk buys Twitter for $44 Billion
 

I'm not on Twitter so no brainwashing here, not on FB or any other platform.

Re: Elon Musk buys Twitter for $44 Billion
 

That's at least two of us then. The trouble is, all the people 'at the top' use them and you can already see how their brains have been fried by doing so.

Re: Elon Musk buys Twitter for $44 Billion
 

Like mainstream media and TV/film dramas don't do that.:rolleyes:

Re: Elon Musk buys Twitter for $44 Billion
 

I remember something similar.

There are more nanoseconds in 1 second, than there are seconds in 31 Years.

There are more picoseconds in 1 second, than there are seconds in 31,700 Years.

There are more femtoseconds in 1 second, than there are seconds in 31 million Years.

There are more attoseconds in 1 second, than there are seconds in 31 billion Years.

Re: Elon Musk buys Twitter for $44 Billion
 

He should have bought rain forests.

Re: Elon Musk buys Twitter for $44 Billion
 

https://www.cableforum.uk/board/atta...1&d=1651142959

Real tweet btw.

Re: Elon Musk buys Twitter for $44 Billion
 

Just seen that. hahaha

Musk does not care about real money he is a share holders nightmare

Re: Elon Musk buys Twitter for $44 Billion
 

LOL. Elon just tweeted this in last few minutes:

https://www.cableforum.uk/board/atta...1&d=1651235740

:rofl:

Re: Elon Musk buys Twitter for $44 Billion
 

Didn't Elon tweet about buying BMW just to change the grill?

Re: Elon Musk buys Twitter for $44 Billion
 

He is a bit weird. It's lucky he is taking Twitter private because he is a nightmare to shareholders.

Re: Elon Musk buys Twitter for $44 Billion
 

After concerns about plans to weaken moderation, Elon Musk has been invited to appear before a Commons Select Committee regarding his intention to purchaseTwitter..

Julian Kinight, who chairs the DCMS panel, will be asking him to explain how he will be balancing his commitment to free speech with the forthcoming obligations on websites to protect users from harm under the Online Safety Bill.

Re: Elon Musk buys Twitter for $44 Billion
 

The online end of free speech bill is a joke

Re: Elon Musk buys Twitter for $44 Billion
 

Having the right to free speech is not incompatible with not harming others in any way to any extent.

We don't have the right to say what we want, to who we want and when we want right now and for very good reason.

Re: Elon Musk buys Twitter for $44 Billion
 

The genie is already out of the bottle, but when you go down the road of trying to legislate around a totally subjective issue, it’s the road to hell.

I have to go, the thought police are at the door.

Re: Elon Musk buys Twitter for $44 Billion
 

NEW: Elon Musk has vowed to reverse the Twitter ban of former U.S President Donald Trump, declaring it morally wrong and flat out stupid.

Trump had vowed weeks ago that he wouldn’t return to Twitter, even if Elon removed the ban.

https://news.sky.com/story/elon-musk...trump-12610153

Re: Elon Musk buys Twitter for $44 Billion
 

It’s the correct thing to do.

Re: Elon Musk buys Twitter for $44 Billion
 

Re: Elon Musk buys Twitter for $44 Billion
 

Then I will consider leaving

Re: Elon Musk buys Twitter for $44 Billion
 

:tu: Agreed

Re: Elon Musk buys Twitter for $44 Billion
 

Elon will be devastated.

Re: Elon Musk buys Twitter for $44 Billion
 

That is only how he is going to realise his mistake. It is going to backfire on him big time.

Re: Elon Musk buys Twitter for $44 Billion
 

Deal on hold
https://www.bbc.co.uk/news/business-61433724

Re: Elon Musk buys Twitter for $44 Billion
 

It's an important detail, and part of the valuation of the company. To accurately know many actual users there are so any advertisers know the size of audience they're reaching.

Re: Elon Musk buys Twitter for $44 Billion
 

Or he is trying to get the price down by tanking the shares. Down 25% already.

Remember Telsa shares have also dropped quite a bit since he announced he was buying Twitter and it was against that equity he was borrowing against. So not only is $44 billion a lot of money it became a bigger fraction of his worth since the day of the announcement of the takeover.

---------- Post added at 13:56 ---------- Previous post was at 13:51 ----------

It is but this is what is done as part of due diligence before you commit to buying. It's weird he is at this stage and now he suddenly wants to do it.

Re: Elon Musk buys Twitter for $44 Billion
 

Re: Elon Musk buys Twitter for $44 Billion
 

Not at this scale of purchase. Due diligence can be highly complex and can’t be hidden, nor can it be done when the potential purchase becomes public and the market is all ‘will they won’t they’. That sort of volatility is undesirable and likely to attract unwelcome attention from the market authorities. If you keep people guessing about whether a purchase will go ahead, eventually it starts to look like share price manipulation.

Any offer to make a very large purchase is subject to due diligence. We all do it at some time in our lives - a house purchase offer is always subject to satisfactory surveys. Even if the home report is available from the outset, various other searches have to be done and in some cases special surveys of the electrical or gas systems may take place.

Back in the day when I worked for a major international hotel company, it announced an agreed offer to purchase a large regional hotel chain which itself had well over 100 hotels. For the next 3 months, every senior executive in the place was on the road, visiting every single one of the hotels to establish that they were all there and in satisfactory condition.

Obviously there are certain things that you can, and should, satisfy yourself about before you make the offer, but there’s plenty that you can’t - especially proprietary details that the company being bought can’t and won’t give out to just anyone.

Re: Elon Musk buys Twitter for $44 Billion
 

Elon Musk skipped it though, he has committed to buying Twitter unless something major happens. He hasn't made an offer pending due diligence, he waved that right already and signed the deal: https://news.sky.com/story/elon-musk...-flap-12612206


There is a good breakdown here of why this 'on hold' story is yet more Elon Musk showmanship: https://www.bloomberg.com/opinion/ar...trolls-twitter

Re: Elon Musk buys Twitter for $44 Billion
 

https://news.sky.com/story/elon-musk...rward-12615034


I wonder if he is related to Donald Trump

Re: Elon Musk buys Twitter for $44 Billion
 

Don’t know what this obsession to link things to Trump is all about lately on here.

Musk is doing what any other business-headed top brass would do, drive down a company such as Twitter and it’s value, so it costs him less. Where comparisons to Trump, fits in to this is beyond me. :shrug:

Re: Elon Musk buys Twitter for $44 Billion
 

the comparison is easy; making up completely baseless and unfounded facts and statistics and using them in such a way that they have a sense of credibility and could be plausible. I haven't read through this thread and I haven't seen any other comparisons to Trump made but as soon as I read that it is the first thing that popped into my mind. If he thinks that kind of behaviour is okay then it explains why he thinks Trump's behaviour is acceptable and happy to see his ban overturned.

It is one thing to explain that you are acting responsibly and exercising an abundance of caution in investigating the number of fake accounts on a platform you are buying and it is another thing to say "well I know Twitter says it is 5% or less but I think it is 20% or more". Really? What evidence have you got to substantiate that outrageous accusation and that level of incompetence on Twitter's part? You can't spout random negative information and treat it as fact/true until someone proves otherwise. If you disagree with me then look at it from another perspective. That is the same ideology conspiracy theorists use. Make something up which suits our narrative and when somebody tries to disprove it we'll make something else up to dismiss their argument. I hope he gets sued for that or the government take action against him. He plays fast and loose with the stock exchange and shares.

Re: Elon Musk buys Twitter for $44 Billion
 

Shouldn't he have done that before he had his offer accepted?

Re: Elon Musk buys Twitter for $44 Billion
 

I think you’re missing business studies lesson 101, all companies on Stock Exchange compete and play like that and as for calling him out on the spam account accusations being fake, what makes you privy to Twitter internal statistics?

---------- Post added at 13:52 ---------- Previous post was at 13:49 ----------

He did and thinks he’s been mislead.

Re: Elon Musk buys Twitter for $44 Billion
 

Exactly. Instead of acting maturely and doing his due diligence he is pitting his dummy out after the fact.

Re: Elon Musk buys Twitter for $44 Billion
 

Seems to be taking a leaf out of Johnson's book. Sign an agreement and then go back on it.
As always - act in haste, repent at your leisure.

Re: Elon Musk buys Twitter for $44 Billion
 

If that's the case then Twitter are in big trouble. We use percentages and statistics instead of arbitrary numbers for a reasons. There is a big (and inexcusable) difference between 5% and 20%. If Twitter are saying something is 5% publicly and now that he is majority shareholder he has seen internal communication which may indicate something is in fact 20% then Twitter can get in big trouble for manipulating its share price. Either way somebody needs to be held responsible because either answer too much of an unrealistic variance.

Re: Elon Musk buys Twitter for $44 Billion
 

I think he's been misleading us all, not sure his heart was ever in it, seemed like things got out of hand really quickly and he didn't want to back down and now this is all very convenient. Stand to be corrected when the deal goes through of course and it's 50% of accounts but that's just the feeling I got watching it all unfold

Re: Elon Musk buys Twitter for $44 Billion
 

As rich as he is, I don’t he’d spend $44 Billion on a whim like that. His true aim is as I said above, he’s probably attempting to drive down Twitter’s value, having discovered Twitter might have more spam accounts than they have let on in a prior negotiation deal.

I will say this though, Twitter shareholders, could see through this and totally reject the deal, ownership hadn’t yet changed hands and there was issues with his SEC filing on his initial share purchase that could still scupper the whole arrangement.

Musk had already vowed to unban Trump, so it doesn’t take some guess work that there may be some attempt to stop this deal dead. Given that everything that is going on in America, baby food shortages, Joe Biden’s serious unpopularity and docile approach to everything and he’s vowed to run again in 2024. An unbanned Trump with 88 Million following, vs Biden, gives Trump the 2024 ticket.

Re: Elon Musk buys Twitter for $44 Billion
 

https://www.bbc.co.uk/news/business-61709782

More stories suggest he is going to try to pull out of the deal.

If he can't prove Twitter lied about the 5% he'll have to pay $1 billion as Twitter put in a clause just in case. Alternatively, they could both call it off, he goes through with the deal or tries to get a lower price. This article here shows the difficulty in getting financing: https://www.reuters.com/technology/e...es-2022-06-07/

Re: Elon Musk buys Twitter for $44 Billion
 

He’s a clever guy, I’m sure whatever happens will be by his design.

Re: Elon Musk buys Twitter for $44 Billion
 

He can also afford to lose a $bn.

Re: Elon Musk buys Twitter for $44 Billion
 

He does not care

Re: Elon Musk buys Twitter for $44 Billion
 

Elon Musk hasn't always made the smartest decisions, especially when it comes to Twitter. I wouldn't rule out that this was an excitable flight of fancy that went too far. Let's see if he closes on the deal or not.

Re: Elon Musk buys Twitter for $44 Billion
 

Twitter is not worth what Musk offered and he knows it, but he offered so much they were duty bound to accept it.

Musk has demanded that Twitter reveal how many accounts, and therefore users ( I.e advertising consumers …….revenue) are actually fake.

If it turns out a large % of accounts are fake bots, that then devalues the company. Musk can walk away from the deal and the shareholders can sue the board.

Job done.

Re: Elon Musk buys Twitter for $44 Billion
 

Well, he can't walk away simply by devaluing the company. He has already committed to buying it and waived his right to perform due diligence. If the shareholders did sue they could easily sue Musk as well.

If he can prove the Twitter broad engaged in fraud or something then he could walk away without penalty but the Bloomberg piece I linked to before explains why that's hard. Especially since Twitter reports its revenue so unless he says they lied about that as well whatever the number of bots is it clearly isn't causing him to misunderstand how much Twitter makes.

We already know he overpaid for Twitter but everyone knew that at the time.

Personally, I think he is trying to be as difficult as possible so Twitter just agree to mutually cancel the deal.

Re: Elon Musk buys Twitter for $44 Billion
 

BREAKING: Elon Musk Terminates his deal to buy Twitter.

https://www.reuters.com/technology/e...al-2022-07-08/

Re: [Updated] Elon Musk pulls out of $44 Billion Twitter deal
 

I am shocked! Who could have seen this coming?!

Re: Elon Musk buys Twitter for $44 Billion
 

They probably won’t, but it may force shareholders to investigate the actual worth of the company and how it’s being run.

They’ve just missed out on a payday. Twitter is not particularly profitable as a company. Shareholders may decide to change things to make it more saleable.

Either way, Musk has started something.

Re: [Updated] Elon Musk pulls out of $44 Billion Twitter deal
 

Well it might well go to court anyway unless Musk pays the termination fee. No word on that yet.

Twitter isn't worth $44 billion and Musk signed the deal just before the wider tech market - including his own shares in Tesla - went south.

Im not surprised he pulled out,who the hell would want Twitter??

Re: [Updated] Elon Musk pulls out of $44 Billion Twitter deal
 

Twitter has only made a profit in financial years 2018 and 2020 and has been going since 2010. Unless you have a revolutionary new business model to change it or money to burn, I can't see the case for acquiring it at today's valuations.

If you don't have such a plan, buying Twitter looks like the 21st century equivalent of acquiring a loss-making British newspaper to garner favour and attention from the high and mighty.
https://www.statista.com/statistics/...me-of-twitter/

Re: [Updated] Elon Musk pulls out of $44 Billion Twitter deal
 

Part of the reason Musk probably thought that number of Twitter users may not be accurate

Re: [Updated] Elon Musk pulls out of $44 Billion Twitter deal
 

No-one disputes there are fake accounts on Twitter. Even Tiwtter themselves say that is the case.

But as Damien pointed out here:
The whole point of due diligence is that you work out any issues before you sign the deal, and ensures you can't back out by saying 'oh I didn't know about X so I don't want to do it now'.

Musk had that option and actively chose to waive it.

Re: [Updated] Elon Musk pulls out of $44 Billion Twitter deal
 

The most important figure is profit and that's audited. If user numbers was important, he would have conducted due diligence to confirm the accuracy of this figure.

As Damien has said, he's pulled out due to the downturn in tech company valuations.

I read they are trying to sue him :D

What a bunch of idiots.. NO ONE CAN FORCE ANYONE TO BUY IT!!


Just shut it down,.........

Re: [Updated] Elon Musk pulls out of $44 Billion Twitter deal
 

Well they could, he signed a binding agreement. He would need to show that Twitter significantly misrepresented the company, which is why he is focusing on bots, and that due diligence which he waived the right to do wouldn't have picked it up. There is an article I put further up that showed why this would be pretty difficult even if the bot problem is 5x worse than the 5%.

That said it's unlikely a court would force him to buy it because he needs external creditors to loan him the money which is apparently something courts dislike. Twitter probably want a substantial amount of compensation.

Re: [Updated] Elon Musk pulls out of $44 Billion Twitter deal
 

I think it's fair for Musk to compensate Twitter as per what he agreed. As far as I'm aware, it wasn't conditional on anything so he has little wriggle room. Just a deeper pocket and the ability to keep the case going longer.

Re: [Updated] Elon Musk pulls out of $44 Billion Twitter deal
 

The salient point being as far as you are aware.

Re: [Updated] Elon Musk pulls out of $44 Billion Twitter deal
 

Well, they can 'force' him if he signed a contract, or of course they can sue for breach of said contract.

Re: [Updated] Elon Musk pulls out of $44 Billion Twitter deal
 

Because the full deal requires him to bring in additional loans/funding (i.e third parties who the court cannot force to lend) the suspicion is it'll just be compensation.

Re: [Updated] Elon Musk pulls out of $44 Billion Twitter deal
 

One for the lawyers mate. Musk has deeper pockets so I predict he will try a pay lower compensation than he agreed.

Re: [Updated] Elon Musk pulls out of $44 Billion Twitter deal
 

If he bought in good faith and they sold a lemon he probably has a good case.

Re: [Updated] Elon Musk pulls out of $44 Billion Twitter deal
 

He's not bought it, Papa, that's the issue here.

Re: [Updated] Elon Musk pulls out of $44 Billion Twitter deal
 

Multi-billion dollar deals don’t work on "good faith", they work on pre-agreed contractual terms.

Re: [Updated] Elon Musk pulls out of $44 Billion Twitter deal
 

Because they've tried to pull a fast one by overstating it's customer base/value

Re: [Updated] Elon Musk pulls out of $44 Billion Twitter deal
 

Musk waived his due diligence right that would have allowed him to discover any issues like that before signing the purchase agreement.

Re: [Updated] Elon Musk pulls out of $44 Billion Twitter deal
 

Wow didn't realize there are so many insiders on this site .

Re: [Updated] Elon Musk pulls out of $44 Billion Twitter deal
 

If that was aimed at me it's literally what Twitter have said two months ago

https://www.reuters.com/markets/deal...eal-2022-05-17

YA Hmmm I didnt think of that.. Why did he sign anything if he wasnt 100% sure??

Re: [Updated] Elon Musk pulls out of $44 Billion Twitter deal
 

Because he's a cocky, arrogant, git who thought he knew best and better than everyone else, he'll learn the hard way that isn't the case

Re: [Updated] Elon Musk pulls out of $44 Billion Twitter deal
 

Not aimed at anyone but l have had comments about my family's business in the past , and they were and still are up the creek:D as were the feds , state and local police in the 20s to 60s ny father use to say that we had a desk / office just for them , :shocked: in the beginning we did a lot of business with Cuba ,so perhaps that was reason?! Just for a little fun buy and put to one side some newspapers , then get them out in six months , and read again , my guess you will never trust one again !!!

Re: [Updated] Elon Musk pulls out of $44 Billion Twitter deal
 

Hole in one! It will catch up with him the same as it caught up with Johnson.

I guess he shouldnt have signed anything before he was sure........

Re: [Updated] Elon Musk pulls out of $44 Billion Twitter deal
 

BREAKING: Elon Musk proposes to proceed with deal to buy Twitter - Bloomberg

Re: [Updated] Elon Musk pulls out of $44 Billion Twitter deal
 

I am shocked that it turns out he’ll pay what he originally promised :rolleyes:

I wonder if its cause he really didnt wanna pay the fees to cancel?

Re: [Updated] Elon Musk $44 Billion Twitter deal back on
 

Twitter think he still might not go through with the deal so maybe there is some gamesmanship going on. Musk has used this intent to buy as a reason to stop the case but Twitter want it to continue so I guess from their point of view it's either the deal goes through or the lawsuit finishes - whichever comes first.

Re: [Updated] Elon Musk $44 Billion Twitter deal back on
 

The plot thickens.

https://www.teslarati.com/twitter-re...s-renewed-bid/

Re: [Updated] Elon Musk $44 Billion Twitter deal back on
 

They're not refusing to accept it. They're refusing to halt legal action or accept different terms such as one that gets Musk out of the whole thing if he can't raise the money.

Twitter can't refuse to accept the deal if it's the original terms for the agreed amount. They suspect Musk is up to something.
https://www.ft.com/content/1ce8a07a-...b-f91261929a71

Anyway the case is halted for now but the judge will allow it to resume if Musk somehow finds another reason not to complete.

Re: [Updated] Elon Musk $44 Billion Twitter deal back on
 

I thought Musk was supposed to be a hot shot businessman.:confused: