Tag: 44 billion Twitter acquisition deal

[ad_1] Elon Musk's Twitter deal's completion marks an end to a six-month-long saga. Elon Musk, who once tweeted "I hate advertising", did a shocking U-turn today and said he wants Twitter Inc to be "the most respected advertising platform", in a bid to gain the trust of ad buyers ahead of the expected close of his $44 billion deal for the social media firm.Musk, Twitter co-founder Jack Dorsey and investors in the deal had previously suggested moving away from advertising and seeking revenue from subscriptions and other means. Advertisers have also told Reuters they were apprehensive of the takeover. "There has been much speculation about why I bought Twitter and what I think about advertising. Most of it has been wrong," Musk said in a tweet on Thursday. "Fundamentally, Twitter aspire...

[ad_1] Now Elon Musk will have to prove why he believes that Twitter is worth 10 times that amount. Overspending on Twitter Inc for $44 billion was the easy part. Now, Tesla Inc Chief Executive Elon Musk must prove why he believes that Twitter is worth 10 times that amount and turn around a social media platform that he has spent months ridiculing. Earlier this month, the outspoken billionaire said: "Myself and the other investors are obviously overpaying for Twitter right now. The long term potential for Twitter in my view is an order of magnitude greater than its current value." Musk has provided few concrete details about his plans, and what he has shared appears far-fetched or contradictory. Here is what lies ahead for Musk, the self-proclaimed "Chief Twit", according to c...

[ad_1] Elon Musk took charge of Twitter on Thursday and fired its top executives. Elon Musk is at turns ingenious, impulsive and infuriating. He is also a corporate maverick, unafraid to tackle myriad industries by his own rules. After revolutionizing the auto industry, sending his own rocket to space -- with his car on board -- and building the world's biggest fortune, the eccentric billionaire is the new king of social media after he took charge of Twitter on Thursday and fired its top executives. That will give him control of the network on which the world debates, mobilizes, bickers and throws shade, Musk often first among them. The deal will also fuel the fire over his political views, business methods, outsized personality and unconventional personal life -- flames he doe...