Internet does not forget and it seems that this is something that Elon Musk has had to learn the hard way with the whole Twitter acquisition mess and how has disturbed to the entire platform.
Over the last few months we have seen the evolution of this drama, where Musk began by aggressively buying shares of Twitter to finally end up announcing his acquisition.
Until then, everything was normal, until the tycoon tried to abandon the agreement and the formal trial process began that would force him to spend even more money, in case the verdict went against him.
In the end, it seems that Musk was forced to resume the purchase under the original terms and now a report suggests that he would complete the purchase by meeting the deadline at the last possible minute.
Given such a scenario, it is essential to detail this latest development and recount the chronology of this entire matter.
Elon Musk would complete the purchase of Twitter in 48 hours: this is the count of the facts
According to a recent report in the magazine ForbesElon Musk would have notified his co-investors who promised to help him with the financing of the purchase of Twitter for USD $44,000 million, which will close the commercial agreement this Friday, October 28, 2022
Curiously and by cosmic coincidence, that is exactly the deadline day to close the acquisition before being forced to go to trial and most likely lose it.
But for now, according to anonymous sources informed about the Sequoia Capital matter, Binance, Qatar Investment Authority and other entities received the necessary documentation to move forward and comply with the purchase process on time.
So, if all goes well, Elon Musk would be the brand new owner of Twitter for this coming weekend. So it is worth making a very brief account of this soap opera.
How Elon Musk ended up being forced to buy Twitter
The whole mess started at the beginning of this year 2022, when Elon Musk began to acquire a significant number of shares of Twitter, although he did not notify the stock market regulatory authorities.
The CEO of the social network, Parag Agrawal, recognized this situation and then offered a place on the board of directors to Elon as a deference and measure to contain his aggressive buying of portions of the company.
It is there then jack dorseycreator of Twitter, has a collapse episode and blames himself for the direction his social network took.
Hours later it is made public that Musk made an offer to buy Twitter for USD $44 billionthe board of directors accepts and at the same time, in a discreet way, shields itself in case Musk wants to escape from the deal.
Elon does indeed follow his usual pattern with these kinds of proposals and intends to abandon the Twitter acquisition, interestingly enough around the time of the #CryptoCrash and the plummeting value of Tesla.
As expected, he gets involved in a legal battle where everything indicates that he would have everything to lose, with an astronomical fine and without owning the social network. Although documents such as a private conversation he had with Dorsey himself.
So, before the scenario, in the end he ended up accepting to maintain the original purchase process. But he had not set a date to complete the acquisition, even with this Friday as the deadline.
It seems that he will leave everything for last and there is a compelling reason: in less than a year Elon Musk has lost nearly USD $110 billion of his fortune. To which we will have to add what you spend to buy Twitter.