TIMELINE: Musk to step down as Twitter CEO once he finds successor
Billionaire Elon Musk said he will step down as chief executive of Twitter Inc once he finds a replacement, but will still run some key divisions of the social media platform.
Billionaire Elon Musk said he will step down as chief executive of Twitter Inc once he finds a replacement, but will still run some key divisions of the social media platform. The latest move by Musk, the head of electric-car maker Tesla Inc, comes after Twitter users voted decisively in a poll for him to step down as CEO of the microblogging platform. Below is a snapshot of Musk’s moves in the Twitter takeover saga.
April 4: Musk discloses over 9% stake in Twitter
April 5: Twitter says Musk will join company’s board
April 10: Musk says he will not join Twitter board
April 14: Musk offers $54.20/share, a 38% premium to Twitter’s April 1 closing price
April 15: Twitter adopts poison pill to protect company from takeover
April 21: Musk lines up $46.5 billion in financing for the deal
April 25: Twitter board accepts Musk’s offer
April 29: Musk sells Tesla shares worth over $8 billion in a bid to finance takeover
May 5: Musk discloses $7.14 billion funding; sources tell Reuters Musk could temporarily lead Twitter after deal closes
May 11: Twitter co-founder Jack Dorsey says he will not return as CEO if offered
May 13: Musk says Twitter deal on hold pending review of spam and fake accounts. Later tweets he remains committed to the deal
May 25: Twitter investors vote against re-electing Elon Musk ally to board Musk pledges more equity to fund Twitter deal, scraps margin loan
May 26: Musk sued by Twitter investors for stock ‘manipulation’ during takeover bid
May 27: The SEC looks into Musk’s Twitter stake purchase
June 6: Musk threatens to walk away from the deal if Twitter fails to provide data on spam and fake accounts
July 8: Musk says he is terminating the deal as Twitter breached provisions of the merger agreement
July 11: Twitter fires back at Musk, accusing him of “knowingly” breaching an agreement to buy it
July 12: Twitter sues Musk for violating his $44-billion deal
July 15: Musk files a motion opposing Twitter’s request to speed up a trial over his plan to terminate the deal
July 19: Twitter will get an October trial in its legal fight to hold Musk to his $44 billion takeover
July 22: Twitter blames battle with Musk and weakening digital ad market for surprise fall in Q2 revenue and loss
July 29: Musk confidentially countersues Twitter, escalating his legal fight against the company over his bid to walk away from the deal August Twitter rejects Musk’s claims in a Delaware 4 court filing that he was hoodwinked into signing the deal, saying it was “implausible and contrary to fact”
August 6: Musk says if Twitter could provide method of sampling 100 accounts and how it confirmed the accounts are real, his deal should proceed
August 9: Musk sells $6.9 billion worth of shares in Tesla saying the funds could be used to finance a potential Twitter deal if he loses the legal battle
August 23: A whistleblower complaint by former Twitter head of security Peiter “Mudge” Zatko becomes public. It alleges the company misled regulators and investors about security and data privacy
September: Delaware judge Kathaleen McCormick allows Musk to add the whistleblower claims to his countersuit against Twitter but denied request to delay the trial
October 4: Musk proposes to go ahead with his original offer of $54.20 per share to take Twitter private, according to two sources
October 5: Apollo Global Management and Sixth Street Partners are no longer in talks with Musk to finance Twitter deal, according to sources
October 6: Judge halts Twitter lawsuit vs Musk until Oct. 28 to permit deal closing
October 13: Musk is under federal investigations, Twitter says in court filing
October 25: Musk informs co-investors he plans to close Twitter deal by Oct. 28, according to a source
October 27: Musk begins his Twitter ownership with firings, declares the ‘bird is freed’
October 31: Musk says he will serve as chief executive of Twitter
November 1: Twitter will charge $8 a month for its Blue service, which includes its sought-after “verified” badge, Musk said
November 10: Twitter lays off half its workforce, as 4 advertisers pulled spending November Musk raises the possibility of the social media platform going bankrupt
November 11: Twitter pauses its recently announced $8 blue check subscription service as fake accounts mushroomed, and Musk brought back the “official” badge to some users
November 28: Musk accuses Apple Inc of threatening to block Twitter from its app store without saying why in a series of tweets that also said the iPhone maker had stopped advertising on Twitter
December 10: Twitter says it will relaunch a revamped version of its subscription service Twitter Blue at a higher price for Apple users
December 16: Twitter suspends the accounts of several journalists who recently wrote about Musk
December 17: Musk reinstates the Twitter accounts of the journalists that were suspended for a day
December 19: A poll by Musk on whether he should quit as Twitter CEO shows 57.5% votes were for “Yes”, while 42.5% were against the idea
December 21: Musk says he will step down as Twitter CEO once he finds a replacement, but will run some key divisions of the company
Billionaire Elon Musk said he will step down as chief executive of Twitter Inc once he finds a replacement, but will still run some key divisions of the social media platform.
Billionaire Elon Musk said he will step down as chief executive of Twitter Inc once he finds a replacement, but will still run some key divisions of the social media platform. The latest move by Musk, the head of electric-car maker Tesla Inc, comes after Twitter users voted decisively in a poll for him to step down as CEO of the microblogging platform. Below is a snapshot of Musk’s moves in the Twitter takeover saga.
April 4: Musk discloses over 9% stake in Twitter
April 5: Twitter says Musk will join company’s board
April 10: Musk says he will not join Twitter board
April 14: Musk offers $54.20/share, a 38% premium to Twitter’s April 1 closing price
April 15: Twitter adopts poison pill to protect company from takeover
April 21: Musk lines up $46.5 billion in financing for the deal
April 25: Twitter board accepts Musk’s offer
April 29: Musk sells Tesla shares worth over $8 billion in a bid to finance takeover
May 5: Musk discloses $7.14 billion funding; sources tell Reuters Musk could temporarily lead Twitter after deal closes
May 11: Twitter co-founder Jack Dorsey says he will not return as CEO if offered
May 13: Musk says Twitter deal on hold pending review of spam and fake accounts. Later tweets he remains committed to the deal
May 25: Twitter investors vote against re-electing Elon Musk ally to board Musk pledges more equity to fund Twitter deal, scraps margin loan
May 26: Musk sued by Twitter investors for stock ‘manipulation’ during takeover bid
May 27: The SEC looks into Musk’s Twitter stake purchase
June 6: Musk threatens to walk away from the deal if Twitter fails to provide data on spam and fake accounts
July 8: Musk says he is terminating the deal as Twitter breached provisions of the merger agreement
July 11: Twitter fires back at Musk, accusing him of “knowingly” breaching an agreement to buy it
July 12: Twitter sues Musk for violating his $44-billion deal
July 15: Musk files a motion opposing Twitter’s request to speed up a trial over his plan to terminate the deal
July 19: Twitter will get an October trial in its legal fight to hold Musk to his $44 billion takeover
July 22: Twitter blames battle with Musk and weakening digital ad market for surprise fall in Q2 revenue and loss
July 29: Musk confidentially countersues Twitter, escalating his legal fight against the company over his bid to walk away from the deal August Twitter rejects Musk’s claims in a Delaware 4 court filing that he was hoodwinked into signing the deal, saying it was “implausible and contrary to fact”
August 6: Musk says if Twitter could provide method of sampling 100 accounts and how it confirmed the accounts are real, his deal should proceed
August 9: Musk sells $6.9 billion worth of shares in Tesla saying the funds could be used to finance a potential Twitter deal if he loses the legal battle
August 23: A whistleblower complaint by former Twitter head of security Peiter “Mudge” Zatko becomes public. It alleges the company misled regulators and investors about security and data privacy
September: Delaware judge Kathaleen McCormick allows Musk to add the whistleblower claims to his countersuit against Twitter but denied request to delay the trial
October 4: Musk proposes to go ahead with his original offer of $54.20 per share to take Twitter private, according to two sources
October 5: Apollo Global Management and Sixth Street Partners are no longer in talks with Musk to finance Twitter deal, according to sources
October 6: Judge halts Twitter lawsuit vs Musk until Oct. 28 to permit deal closing
October 13: Musk is under federal investigations, Twitter says in court filing
October 25: Musk informs co-investors he plans to close Twitter deal by Oct. 28, according to a source
October 27: Musk begins his Twitter ownership with firings, declares the ‘bird is freed’
October 31: Musk says he will serve as chief executive of Twitter
November 1: Twitter will charge $8 a month for its Blue service, which includes its sought-after “verified” badge, Musk said
November 10: Twitter lays off half its workforce, as 4 advertisers pulled spending November Musk raises the possibility of the social media platform going bankrupt
November 11: Twitter pauses its recently announced $8 blue check subscription service as fake accounts mushroomed, and Musk brought back the “official” badge to some users
November 28: Musk accuses Apple Inc of threatening to block Twitter from its app store without saying why in a series of tweets that also said the iPhone maker had stopped advertising on Twitter
December 10: Twitter says it will relaunch a revamped version of its subscription service Twitter Blue at a higher price for Apple users
December 16: Twitter suspends the accounts of several journalists who recently wrote about Musk
December 17: Musk reinstates the Twitter accounts of the journalists that were suspended for a day
December 19: A poll by Musk on whether he should quit as Twitter CEO shows 57.5% votes were for “Yes”, while 42.5% were against the idea
December 21: Musk says he will step down as Twitter CEO once he finds a replacement, but will run some key divisions of the company
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