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X Corp. Main articles: Acquisition of Twitter by Elon Musk and Twitter under Elon Musk Avatar of Elon Musk Elon Musk @elonmusk I made an offer https://sec.gov/Archives/edgar... April 14, 2022[164] In early 2017, Musk expressed interest in buying Twitter and had questioned the platform's commitment to freedom of speech.[165][166][167] By 2022, Musk had reached 9.2% stake in the company,[168] making him the largest shareholder.[169][d] Musk later agreed to a deal that would appoint him to Twitter's board of directors and prohibit him from acquiring more than 14.9% of the company.[171][172] Days later, Musk made a $43 billion offer to buy Twitter.[169][173] By the end of April Musk had successfully concluded his bid for approximately $44 billion.[174] This included approximately $12.5 billion in loans and $21 billion in equity financing.[175][176] Having back tracked on his initial decision,[177] Musk bought the company on October 27, 2022.[178] Immediately after the acquisition, Musk fired several top Twitter executives including CEO Parag Agrawal;[178][179] Musk became the CEO instead.[180] Under Elon Musk, Twitter instituted monthly subscription for a "blue check",[181][182][183] and laid off a significant portion of the company's staff.[184][185] Musk lessened content moderation and hate speech also increased on the platform after his takeover.[186][187][188][189] In late 2022, Musk released internal documents relating to Twitter's moderation of Hunter Biden's laptop controversy in the lead-up to the 2020 presidential election.[190] Musk also promised to step down as CEO after a Twitter poll,[191][192] and five months later, Musk stepped down from chief executive officer (CEO) and transitioned his role to executive chairman and chief technology officer (CTO).[193]
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