Elon Musk taking over Twitter made the biggest breaking news! But do you know who owned Twitter before Elon Musk? According to a regulatory filing with the US Securities and Exchange Commission on April 12, Twitter, which was started by Jack Dorsey, Noah Glass, Biz Stone, and Evan Williams in 2006, is mainly owned by large institutional investors. In April, the Vanguard Group became the largest Twitter shareholder. Morgan Stanley Investment Management, BlackRock, and StateStreet are some other companies that also owned shares on Twitter.
Jack Dorsey, Martha Lane Fox, Robert Zoellick, Omid Kordestani, Bret Taylor, Parag Agrawal, Ned Segal, Vijaya Gadde, Sarah Personette also own a significant stake in the company.
How Much Did Elon Musk Buy Twitter For?
Elon Musk bought Twitter for a hefty $44 billion. As a result, he now entirely owns the platform. After a week of deliberation, the microblogging platform accepts Musk’s billion-dollar deal!
What Musk will do next has aroused a lot of discussions. But one thing is sure: anything he does will have a significant impact on a large number of people. Twitter has around 200 million users worldwide, but it’s still a long way behind Zuckerberg’s Meta, which has 3.6 billion users across Facebook, Instagram, and WhatsApp.
Though we cannot ignore the significance of Twitter because it was created as a platform for ‘breaking news!’ The more individuals who discuss a topic, the more likely it is to “trend” and gain mainstream media attention.
When Does Elon Musk Take Over Twitter?
The platform accepts Elon Musk’s attempt to take over Twitter Inc on Monday, 25th April. Thus giving the world’s richest man authority over the influential social-media network where he is also one of its most influential users.
The agreement marks the end of a lengthy courtship and a dramatic shift in sentiment at Twitter, where many executives and board members were initially opposing Mr. Musk’s takeover strategy.
For the past two weeks, the drama around the Twitter takeover has been evolving. First, musk bought a majority share in Twitter, was offered a board position, and then turned it down. Then there was Twitter’s opposing the deal.
But we are finally over and done with all of this after Mr. Musk bought Twitter!
Conclusion
With the takeover in place, Musk has many plans regarding Twitter now. The first is mainly getting rid of bots. He also speaks of an open-source algorithm for Twitter. Another question that has been raised is will Twitter go private? If you have been using Twitter for a while, you must be one of those who want an edit button once you post a tweet! You never know, Elon Msk might just fulfill your wish!