Musk interested in buying Twitter as early as 2017 and bought shares in January 2022, reaching 5% in March.
Credit: Google / Social Media
He became the biggest stakeholder by April after acquiring a 9% stake.
He failed to submit SEC paperwork within 10 days of crossing 5% ownership, violating American securities laws. after acquiring 7.5% of Twitter's stock.
Musk agreed to join Twitter's board on April 4 and not acquire more than 14.9% of the Company.
Musk offered $43 billion to buy 100% of Twitter's stock at $54.20 per share on April 13.
Musk raised $46.5 billion, including $12.5 billion in Tesla stock loans and $21 billion in equity. Musk won $44 billion that day.
The deal caused Tesla's stock market value to drop by over $125 billion the next day, costing Musk $30 billion.
On October 27, Musk fired Twitter executives, including CEO Parag Agrawal, after the acquisition was completed.