Confused about what’s going on regarding Elon Musk and Twitter? You’re not alone. Let us guide you through this complex story of takeover bids and poison pills.
If you’re having trouble keeping up with the ever-changing Elon Musk-Twitter takeover bid situation, you’re not alone. The confusion around what happened and when is understandable, since the drama appears to have near-daily developments. So instead of clicking through hashtags on Twitter to find out what’s really going on, let us help you. Our neat little timeline below outlines all the main bullet points you need to know to make sense of this social media Succession -like situation. January 31, 2022: While this story seems to have started in April, its beginnings really are rooted in January of this year. The Associated Press reports that regulatory filings showed that the Tesla CEO began buying Twitter shares on January 31 on an “almost daily” basis. Though few took notice, it’s clear Musk had an early interest in building up his stake in Twitter. April 4, 2022: All those shares Musk bought eventually added up to him having a 9% stake in Twitter. This stake was reported on April 4 in a regulatory filing. This is the point at which the story becomes public, because at the time, that 9% stake made Musk the bird app’s biggest shareholder. But keep reading, because that doesn’t last long. It was also on this day that Musk put a poll on Twitter, asking his followers if they wanted an edit button. April 5 2022: Not long after Musk’s 9% stake in the company is announced, Twitter offers him a seat on its board. Twitter CEO Parag Agrawal announces Musk’s appointment to the board via a tweet on April 5. The board seat offer came with a stipulation that Musk wouldn’t purchase more than 14.9% of Twitter’s remaining stock. Musk initially accepted this offer, saying he was looking forward to working with the team “to make significant improvements to Twitter.
