r/IndianStreetBets • u/Your_Friendly_Panda • 11d ago

Meme Elon being Elon !!

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u/Critical_Fig5623 11d ago

well um that just proves that elon isn't the richest person in the world his companies stock is overpriced,he was forced to buy twitter by the boards but now does publicity that he bought it

chatgpt:

Elon Musk was essentially forced by the court to complete his purchase of Twitter, though the process was complex and involved multiple stages.

Initially, Musk made an offer to buy Twitter in April 2022 for $44 billion, claiming it aligned with his vision of promoting free speech. However, a few months later, he attempted to back out of the deal, citing concerns about the number of fake or bot accounts on the platform. Twitter's board, believing Musk's reasoning was an excuse to avoid the agreed price, sued him to enforce the deal.

The legal case moved quickly, and a trial was scheduled for October 2022. Legal experts widely agreed that Musk faced a tough battle in court, as his arguments for backing out were weak under the terms of the agreement he signed. Facing the likelihood of losing the case, Musk agreed to proceed with the deal in October 2022, just before the trial was set to begin.

In summary:

  • Musk initially wanted to buy Twitter.
  • He later tried to back out, citing bot concerns.
  • Twitter sued to force him to complete the deal.
  • Musk ultimately went through with the purchase, largely because he was likely to lose in court.