Elon Musk completed the acquisition of a major social network and began by firing key executives

American entrepreneur and billionaire Elon Musk, known for his ambitious plans for space, has decided to add a major social network to his long list of companies.

We are talking about the social network Twitter blocked in Russia (* blocking is associated with the company's failure to remove content recognized as extremist).

As it became known, Musk paid $41 billion for the microblogging service. The billionaire's purchase of Twitter* was completed on Thursday, a day before a court-set deadline. According to National Public Radio, Musk immediately fired key executives, including CEO Parag Agrawal, indicating his desire to overhaul the social media company. The financial director and chief legal officer were also fired.

Recall that Musk and Twitter * were embroiled in a months-long legal battle after the businessman refused to fulfill the agreement to buy the social network. But just days before the parties were due to appear in court, Musk surprised everyone by saying he would buy the network after all.

The billionaire spoke about the reasons that prompted him to make a deal.

It is important for the future of civilization to have a common digital platform where a wide range of opinions can be discussed in a healthy manner, without recourse to cruelty.

Musk said.

According to the businessman, he took this step not to earn even more money, but to help the humanity he loves.

Elon Musk is also the owner of such well-known companies as Tesla and SpaceX.

Earlier it was reported that on October 31, Donald Trump's account, which was blocked in January 2021, will be restored on the social network. However, later statements began to be published that these publications were not true.

Comments

[Vladimir Vladimirovich Vorontsov]

Elon Musk completed the acquisition of a major social network and began by firing key executives

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[credo]

Oh, what a darling and cute, I really want to hug him "for helping humanity"

[Shurik70]

Earlier it was reported that on October 31, Donald Trump's account, which was blocked in January 2021, will be restored on the social network. However, later statements began to be published that these publications were not true.

So let's see if he is for humanity and freedom of speech, or for personal enrichment.
And at the expense of layoffs - so it was not figs to file a lawsuit that Musk specifically agreed at first, and then refused to buy in order to collapse the price. No successful businessman will tolerate those who tried to set him up on his team.

[Alex777]

They even sued Musk to buy, and not change his mind ...)))))

[Starover_Z]

Quote: Alex777

They even sued Musk to buy, and not change his mind ...)))))

I seem to have missed something. And what the hell was this Network sold to him through the court?
Did he promise to "marry her"? And if they refused to buy, what did they lose or who?
Weird...

[Alex777]

13 July, 09: 37
Twitter sues Musk for refusing to buy the social network

Musk repeatedly violated the agreement with Twitter on the acquisition, the decision not to complete the purchase of the social network is contrary to the terms of the agreement, the company said. He found that there were more spam accounts on Twitter than he had been told.

Twitter demanded through the court from the head of Tesla and SpaceX Elon Musk to complete the deal to acquire the social network for $44 billion, accusing him of refusing to fulfill obligations to the platform and its shareholders, write The New York Times and The Guardian.

The lawsuit was filed in the Delaware Court of Chancery. It says that the businessman refuses to fulfill his obligations due to the fact that the deal has ceased to meet his personal interests.

“Musk appears to believe that, unlike any other party subject to Delaware contract law, he is free to change his mind, destroy the company, disrupt its operations, destroy shareholder value, and leave,” the document says.

Twitter felt that Musk's refusal to complete the deal followed a "long list of material violations" of the agreements between the parties that damaged the reputation of the social network. The purpose of the lawsuit on Twitter was called preventing further violations by the Musk, forcing the fulfillment of legal obligations and completing the transaction after the fulfillment of a number of conditions.

Twitter shares plunge 11% as Musk pulls out of buying Twitter

Twitter also called Musk's decision not to complete the deal "invalid and illegal", arguing that the social network did not violate any obligation from the agreement of the parties. Musk and his representatives "knowingly, intentionally, willfully and materially violated the agreement," the company continued. Twitter said it was confident in its share of spam accounts, adding that it uses spam experts to verify the count and ensure it's accurate.

Twitter filed a motion for an expedited review of the case, asking the court to start proceedings in September due to its "critical" nature. Twitter's chief legal adviser, Sean Edgett, told employees in an internal mailing list, The New York Times learned.

As the publication points out, before the Delaware Court of Chancery did not allow companies to refuse transactions. In particular, in 2001 Tyson Foods attempted to back out of acquiring IBP's meatpacking plant, but the court ruled that the agreement must be honored. If the court allowed to withdraw from transactions, the court decision obliged to pay compensation for losses, the newspaper notes.

Musk pulled out of a deal to buy Twitter on July 9, explaining that the social network did not provide information about fake accounts and spam bots. Representatives of the businessman accused the social network of violating several provisions of the agreement with the entrepreneur. By July 12, Twitter shares were down 11%.

After media reports about Twitter's intention to sue, Musk posted on the social network a post in which he indicated that during the trial, the company would be required to disclose data about spam bots and fake accounts.

[Corrosion inhibitor]

Where they change the awl for soap, there is no point in looking for benefits.

[AshPoseidon]

Mask can be congratulated on the next title?

[Murmur 55]

Normal practice, the new owner removes the old ones and in their place appoints HIS people whom he trusts, what's wrong with that? But Musk's next steps are very interesting.

[Pereira]

Not always like this.
When Mordashov fought for Arcelor, Mittal left the leadership in the field and the old men gave the company to him.

[Alex777]

Quote: Pereira

Not always like this.
When Mordashov fought for Arcelor, Mittal left the leadership in the field and the old men gave the company to him.

I suppose Mittal is not very happy today?

[Victor19]

The European Union is definitely not happy! Arcelor is almost completely closing its factories in the Eurozone. Already closed in Hamburg.

[Petr_Koldunov]

Quote: Pereira

When Mordashov fought for Arcelor, Mittal left the leadership in the field and the old men gave the company to him.

Perhaps there it was a documented condition of the deal ...

[I dare to_notice_]

Margot on Twitter! ))
(very short)

[Alexga]

To be honest, Twitter is a very strange network. So, just chirp and that's it.

[Murmur 55]

Alexga , so all social networks are tweeting and that's it.

[Nexcom]

well, not really. many use to drain compromising evidence on opponents. The notorious horse with an Israeli passport did just that. I also cut money from target people. Judging by the claims of law enforcement ...

at the moment, many social networks are built into the mechanism of big politics. and there's no getting away from it.

[Got it]

This well-known horse is the godmother, whoever is needed, and therefore they warned that it was time to bring down on time, and they released it without any problems. Musk, on the other hand, is in a different situation, forced to follow the rules of the game where he lives and creates good trampolines. So, nothing will change with this social network.

[vasiliysxx]

As they say on the net, she was able to get out not because someone's godmother, but presented the horse's passport, she had to let go

[Nexcom]

But before that, she lied publicly that she only had a Russian passport .... According to a horse.

it’s not just that they don’t like all these figures - the heart feels that there is something rotten there, that something is unclean. Here's another one that broke.

[abrakadabre]

the heart senses that there is something rotten there, that something is unclean.

There is not something rotten, but EVERYTHING is rotten. The other one doesn't show up.

[Zadok]

no, not a godmother to anyone. this is a bike

[Azerbaijani_Game]

Elon Imask, please unban me there.

[Pereira]

Unblocking Twitter in exchange for blocking Starlink?

[Lomo]

Let's see if Twitter becomes democratic again. And will Trump be unbanned.

[abrakadabre]

Let's see if Twitter becomes democratic again. And will Trump be unbanned.

Twitter was democratic. Become a Republican. But it is not exactly.

[stels_07]

How does VO correlate with this question?

[Pereira]

Very simple. The consequences can be very significant and unpredictable.

[stels_07]

On the tiktok front maybe, but in real life?

[Pereira]

Changing the information field of the planet.

According to the latest industry data, almost 40% of all internet traffic is from "bad bots". Automated bots, including those from search engines and social networks, account for 64% of all Internet traffic.

[Jcvai]

Given that the Pentagon makes some of the decisions for the Mask ...
(Remembering Musk's contracts with US government organizations and abrupt changes in position on Starlink after another meeting "with his curators")

[pharmacist]

"According to the businessman, he took this step not to earn even more money, but to help the humanity he loves."

Thanks, Musk, cheered me up! Remembering Zadornov, it sounded like a "vegetarian jackal."

[Mikhail Drabkin]

--Well done! He has already shown himself to be a man with an open-minded assessment of reality. And fools do not tolerate.

- And about everything else - "one must envy silently"!

[rotmistr60]

Musk immediately fired key executives, including the CEO

Anyone in his place would start with this. Down with the old leaders, take their places and then implement their editorial and corporate policies. And Trump definitely needs to be sweetened, it can still come in handy.

[Void]

Preparing for the elections, the Republicans decided to acquire the social network

[Bingo]

... and then he was summoned to Congress and kicked in the ass

What's wrong? There is democracy there, which means - shut up, and these uncles will be your moderators

[tihonmarine]

Tesla CEO, billionaire Elon Musk took over Twitter leadership, Twitter CEO Parag Agrawal and CFO Ned Segal left the company's headquarters in San Francisco and will not return. in addition to the CEO and CFO, Vijay Gadde, Head of Legal Policy, Trust and Security, and Sean Edgett, General Counsel.

[Marine63]

One can, of course, be skeptical about Musk's statements and intentions, but what I personally liked in his statements was the desire to break the information monopoly of the large media and social networks. networks with their own agenda and wholesale censorship of opinions. And if we add Musk’s recent statements about resolving the conflict in Ukraine to this, we can conclude that he is a conductor of the opinions of America’s conservative elites who are opponents of globalists, LGBT people and other heretics, appointing Musk as his unspoken herald.

[Dedok]

Quote: Marine63

One can, of course, be skeptical about Musk's statements and intentions, but what impressed me personally in his statements was

yes, it's all right
but it is worth looking at the results in half a year
I think a lot of people will like them

[Maks1995]

Well, it’s been a long time since Social Networks belong to the Kremlin and Usmanov’s circle
Recently, a part of Yandex was bought. Maybe they will bring him to the zugunder, like Rambler ...

[VicktorVR]

The mask keeps the nose and tail in the wind.
It is already clear that Biden is a lame duck.

[faterdom]

Trump has a list of who "doesn't fit".
While on Twitter and other muzzlebooks, but then - in the prosecutor's office, the FBI, the NSA and other unbiased organizations.

[Belopolyak]

They won't let him develop freedom of speech. They quickly put them in place with their companions, it was only necessary to go in refusal.

[iouris]

There is growing evidence that Musk is a Pentagon showcase. This is another confirmation that the Pentagon has taken domestic politics seriously.

[I dare to_notice_]

I bought myself some garbage...
The rich have their own quirks. (With)

[Div Divich]

Elon Musk bought Twitter and got access to media management.

Now he has all the tools to become president.
Let me remind you that the media plays a big role in elections, people vote for those whom they were shown and praised in the media, they have never met these people in person.

[VORON538]

There was a massive explosion of farts in the ranks of the Euro-slaves. Although, I don’t expect anything from this very Mask, well, just don’t care, but it’s still nice!

[Jsem_CZEKO68]

Twitter je v dobrých rukou, ale chce-li

[navycat777]

The purchase of the social network is the gradual preparation of the coup by the Republicans in the deep state. From attack tactics to siege tactics.

[Saturn 22222]

But he is still quite young and full of ideas. Can he? by the end of his mortal journey to buy ALL the property on the planet

[Roman Bubnov]

For the successful completion of the task, the correct understanding of the situation, etc. etc.... to award Comrade Mask with an order... and also to assign another military rank to Comrade Mask... ahead of schedule!

[Drozdov]

ylon you have a very fried muzzle ...

[opposite28]

It is important for the future of civilization to have a common digital platform where a wide range of opinions can be discussed in a healthy manner, without recourse to cruelty.

Musk said.

Elon Musk's purchase of "digital real estate" was expected.

[the same doctor]

According to Musk, humanity is only and exclusively Western civilization. Otherwise, he did not provide Starlink services to Ukraine. Russians are not people for him.
.
The smarter the enemy, the worse for us. There is no need to admire...