Talking about the biggest controversy is that Elon Musk has Refused to buy Twitter, Loses of 40 Billion. This comes after months of uncertainty, the lawyer of Mr. Musk said that ‘Twitter had failed or refused to respond to multiple requests for information on fake or spam accounts on the platform, which is fundamental to the company’s business performance ‘. Experts believe that deal could be renegotiated. Now Twitter is ready to move to court against Elon Musk.
About Twitter
- Twitter is the most popular social networking website and is also used for micro-blogging.
- It was created on 21st March 2006 and launched in July of the same year with the name’ Friendstalker’.
- Its founders are Jack Dorsey, Biz Stone, Evan Williams, and Noah Glass, and the CEO is Parag Aggarwal.
- headquarter is situated in San Francisco USA.
- In September-October 2010, Twitter released a redecorated edition of Twitter.
Elon Musk Refused Twitter
Elon Musk is the world’s richest man, according to Forbes magazine, with an estimated net worth of 273.6 billion dollars, mostly due to his shareholding in electric vehicle maker Tesla, which he runs and also leads the aerospace firm, Space X.
4 months ago, musk purchased a 9.2% stake in Twitter, and this made him the 2nd biggest shareholder in the company, the 1st one being vanguard with a 10.3% stake in the company, Later Twitter CEO Parag Aggarwal welcomed Elon Musk to be part of the board but Elon Musk refused Twitter the offer and the final deal of 100% shareholding in 44 billion dollars was confirmed in April.
The Idea of buying Twitter
It all started last month when Elon Musk asked users on Twitter if he should launch a new social media platform since Twitter doesn’t adhere to the right to freedom of speech, to which most users said that he should buy Twitter instead.
The Tesla CEO also complained that Twitter suppresses the right to free speech, which is believed to be the 1st thing he would solve as the owner of Twitter.
In the past several years, the billionaire often questioned Twitter for censoring some voices including, former US President Donald Trump.
There was a time when the platform accused Elon Musk of violating Twitter’s terms and guidelines for Tweeting information related to the coronavirus.
The way forward – this is the Royal Rumble between Elon musk and Twitter now, the company will drag this matter into court to recoup the deal or the breakup fee of 1 billion dollars at a minimum.
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