Elon Musk joked on the social media site, “let that sink in,” when he entered Twitter’s offices in California while holding a sink on Wednesday. Along with changing his bio to read “Chief Twit,” the CEO of Space X and Tesla also changed his location to Twitter HQ.
The platform is important to the multibillionaire. According to one story, Musk would reportedly be open to reducing employees by as much as 75%. A legal dispute developed between Musk and the firm when he made a bid to purchase Twitter in April but then attempted to cancel the deal a few months later due to worries about the volume of “bot” accounts on the network.
Musk said he will follow through with the initial offer earlier this month. Musk has until October 28 to reach a settlement; if he fails to do so, the case will proceed to trial in November, according to the Delaware Court of Chancery.
Fox News said that Musk expressed his excitement about the Twitter scenario during Tesla’s earnings call last week.
Entering Twitter HQ – let that sink in! pic.twitter.com/D68z4K2wq7
— Elon Musk (@elonmusk) October 26, 2022
He said, “I believe it’s a resource that has kind of sat around for a long time but has amazing potential. The long-term potential for Twitter, in my opinion, is an order of magnitude bigger than its present worth, even if clearly and the other investors are overpaying for it at the moment.
Why did Musk’s Twitter agreement become such a hot topic?
The situation arose after a number of detours since Musk first declared his aim to acquire a 100% interest in Twitter. At first, it was believed that the agreement between the wealthiest man in the world and one of the most influential social media sites had been achieved peacefully.
Musk expressed his worries about the phony accounts on Twitter, where most of the turmoil has occurred. He regularly used Twitter to vent his resentment at his choice to buy the site.
In June 2021, Twitter is said to have decided to make all of its data on spam “bot accounts”—automated accounts that often spread fraud and false information—public. Musk withdrew from the agreement after learning the information. Musk refuted Twitter’s assertions and said that 20% or more of the company’s 229 million accounts are fictitious, without offering any supporting data, despite the company’s claim that just around 5% of its accounts are phony or automated.