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Elon Musk Biography: Biography Of New Twitter Owner, News, Age, Country & Family
Elon Musk Biography, Biography of New Twitter Owner, News, Age, Country & Family can be accessed below.
the board of Twitter Inc. accepted Elon Musk’s $44 billion offer for the company, bringing the much-talked-about deal to a close.
The takeover, if it goes through, would mark one of the biggest acquisitions in tech history and will likely have global repercussions for years to come related to how billions of people use social media.
Under the terms of the deal, shareholders will receive $54.20 in cash for each share of Twitter stock they own, matching Musk’s original offer and marking a 38% premium over the stock price the day before Musk revealed his stake in the company.
Musk first proposed the $54.20-a-share transaction on April 14, igniting a frenzied few weeks as Twitter leaders and Wall Street rushed to figure out whether Musk was serious or not. The deal comes after Musk revealed last week he had lined up $46.5 billion in financing to acquire the company, an apparent turning point that forced Twitter’s board to seriously consider the deal. The board met Sunday to evaluate Musk’s offer.
What they are saying
In his offer letter to Twitter, Musk says: “I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy. However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.”
“The Twitter Board conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing,” Twitter chairman Bret Taylor said in a statement. “The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter’s stockholders.”
Why it matters
- The deal would put the world’s richest man in charge of one of the world’s most influential social media platforms.
- Musk has repeatedly stressed in recent days that his goal is to bolster free speech on the platform and work to “unlock” Twitter’s “extraordinary potential.”
- Twitter a public quoted company, will become a privately held company after Musk’s acquisition
What you should know
- Musk, with over 82 million Twitter followers, has long used the platform to pronounce his views on everything from space travel to cryptocurrencies. In January, he began buying Twitter stock, becoming the single-largest individual investor with a more than 9% stake by April.
- He has previously used Twitter to escalate a conflict with the Securities and Exchange Commission after the agency opened a probe into some of his recent stock sales, and he often blasts his critics on the social network.
- Twitter, at the beginning of the month, invited Mr Musk to join its board—which would have prevented him from owning more than 14.9% of the company’s stock. Mr. Musk initially agreed and then rejected the offer.
Elon Musk Biography: Biography Of New Twitter Owner, News, Age, Country & Family
Elon Musk is a South-African-Canadian-American entrepreneur who lives in the United States. He is the founder of SpaceX, Tesla, and Zip2, among others. He was also one of the people responsible for the success of PayPal. Currently, he serves as Chief Executive Officer (CEO) and Chief Designer (CDO) of SpaceX, CEO and product architect of Tesla (electric vehicles), and chair of SolarCity.
Biography Elon Musk
Elon Musk was born in Pretoria, South-Africa on 28 June 1971. He’s the son of a Canadian model (Maye Musk) and a South-African electromechanical engineer (Errol Musk). His parents divorced in 1980, after which Musk lived with his father.
When he was 10 years old, he discovered the Commodore VIC-20. He taught himself to programme and sold a video game coded in BASIC two years later. BASIC is an imperative programming language that was originally intended to help people learn programming very quickly. The game was called Blastar, and he sold it to PC and Office Technology magazine for 500 dollars soon after.
As a child, Musk attended the independent Waterkloof House Preparatory School. He did his final exams at Pretoria Boys High School and moved to Canada in June of 1989. He then became a Canadian citizen through his Canadian mother.
In 1989 Elon Musk was admitted to Queen’s University in Kingston, Ontario. In 1992, after two years at Queen’s University, Musk left for the University of Pennsylvania, where he earned his Bachelor of Science degree in Physics from Penn’s College of Arts and Sciences and his Bachelor of Arts degree in Economics from the Wharton School of the University of Pennsylvania. Musk continued for another year to get his second bachelor.
During his studies at the University of Pennsylvania, Musk and fellow student Adeo Ressi bought a student house to use as a nightclub. In 1995, at the age of 24, Musk moved to California to get his PhD in physics from Stanford University, but left the university after just two days to start his own businesses in the fields of Internet, sustainable energy, and space. He became an American citizen in 2002.
When he’s just twelve years old, he’s already a better programmer than his teachers. At 24 he gives up his studies at Stanford University to start his first business.
Four years later, that business is worth 300 million dollars and is bought by Compaq. In 2002 eBay buys one of his other businesses – PayPal – for the considerable sum of 1.5 billion dollars. He invests his considerable fortune in SpaceX (2002), Tesla Motors (2004), and SolarCity (2006).
Zip2
Musk and his brother Kimbal founded Zip2 in 1995, an internet company. They did so with investments from a group of business angels.
One of the things the company developed was an online city guide for newspapers. Elon Musk approached The New York Times, Wall street journal and the Chicago Tribune. During his time at Zip2, Elon wanted to become CEO of the company, but none of Zip2’s board members agreed. Compaq bought Zip2 for 307 million American dollars, of which 7% went to Musk, amounting to 22 million dollars.
X.com and PayPal
In March of 1999, Musk founded X.com, an online payment platform. He invested 10 million in it.
A year later the company merged with Confinity which had its own payment platform named PayPal. The merged company focused on the services PayPal already had and continued under that name in 2001.
PayPal’s early growth was driven by a promotion that offered money to new customers if they signed up. PayPal was acquired by eBay in October of 2002, for one-and-a-half billion dollars. 165 million of that sum went to Musk. Before the takeover, Musk had been the largest shareholder with 11.7% of PayPal’s shares.
SpaceX
In 2001 Musk came up with the concept ‘Mars Oasis’; a project to have a small, experimental greenhouse with food crops land on Mars to generate public interest in space exploration and setting up an international space station. In October of 2001, Musk, Jim Cantrell, and Adeo Ressi travelled to Moscow to purchase old ICBMs that could shoot things into space with reusable rockets.
In Russia, Musk was received by companies NPO Lavochkin and Kosmotras. However, he was seen as an amateur and was even allegedly spat at by one of the Russian designers of the rocket. In a video circulating on the internet, Musk says that he said he was looking for a rocket, but that they could keep the nuke.
Later, Musk and his team met again with the people behind Kosmotras, after which they were offered the rocket for 8 million US dollars. Musk declined the offer and decided to start his own company with which he would build affordable rockets. With 100 million of his own earnings, he then started SpaceX in 2002 (Space Exploration Technologies Corp.) As of 2021, he remains the CEO of the company and also holds the position of Chief Engineer.
