Many have heard about the constant back and forth between billionaire Elon Musk and the social network Twitter. Many don’t know how or why it all started, with no cohesive narrative containing all the information. We at LeSabre will collect all this information in one neat package. 

In April of this year, billionaire Elon Musk showed interest in buying the social network Twitter for $44 billion. Elon Musk indeed, as stated in an article by CNBC, signed a legally binding agreement to buy Twitter for $54.20 a share. 

Then, three months later, Elon Musk, according to New York Times, lost interest in the business under suspicion of Twitter lying about the exact % of users on the platform being bots (non-human users) and refusing to supply Mr. Musk with essential business data and documents. Musk’s breach of the agreement made with Twitter prompted Twitter to sue Elon Musk in July, trying to force him to go through the $44 billion deal. Twitter’s anger was fueled by the billionaire walking away from the deal which caused Twitter’s stock value to shoot down and risk shareholders of the company.

“Musk apparently believes that he – unlike every other party subject to Delaware contract law – is free to change his mind, trash the company, disrupt its operations, destroy stockholder value, and walk away,” A Twitter representative said in Chancery Court in Delaware according to the New York Times article hyperlinked above. 

Twitter has not been such a profitable company in its history, being outshined by a much younger TikTok monetary-wise. Yet, even with the low stakes monetary-wise, the saga has gained attention from both consumers and upper-class billionaires and politicians as Twitter sits as the number one best way for people to spread their opinions to the masses.

Elon Musk has let it be known his frustrations with Twitter were there silencing of those with different opinions and that his very first action if he bought the business would be letting former president Donald Trump return to the platform, stating that it was a “mistake” for Twitter to stop the voice of Donald Trump. Mr. Trump was barred and blocked from the platform following the January 6 riot on Captial Hill in 2021. 

According to the New York Times, after months of trying to pull out of the deal, the billionaire had a change of heart and made a proposal on October 3rd to bring this dreadful saga to an end. Elon Musk said that he would be interested in going through with the offer made in April to acquire twitter at $54.20 per share. Twitter is upset by this due to Elon Musk refusing the original offer before and now wanting to want to make the same deal. With all the court and legal fees still standing as a consequence.  

In the most recent news in this saga, according to BBC News and The Hill, Elon Musk has had a federal investigation opened up on him of the Twitter debacle. Twitter believes that Elon Musk may be trying to artificially deflate the business with his offers. Attorneys of Twitter said that Musk’s lawyers claimed: “investigative privilege” (A privilege that prohibits the release of governmental information whether through documentary evidence or oral testimony – that would harm an agency’s investigative or enforcement efforts).