Billionaire Elon Musk, owner of X (formerly Twitter), shared a video of himself entering the social media platform's headquarters to mark the second anniversary of his $44 billion acquisition. He captioned the post, "Let that sink in!" This nostalgic throwback reflects on his takeover in 2022, during which Musk ousted key executives, including CEO Parag Agrawal and legal chief Vijaya Gadde.
Following the takeover, Musk updated his Twitter profile, calling himself the "Chief Twit" and changing his location to Twitter headquarters.
Let that sink in! https://t.co/It4dPAKSk7
— Elon Musk (@elonmusk) October 27, 2024
Ahead of the completion of his $44 billion Twitter acquisition in 2022, Tesla chief Elon Musk — who updated his Twitter bio to 'Chief Twit' — sent out a message to advertisers and his followers, stating reasons behind his decision to acquire the microblogging platform.
In a Tweet, Musk talked about his motivation behind completing the deal and his vision for the social media giant. The Tesla CEO also appealed to advertisers, outlining his plans to grow this platform for various brands.
One of the reasons for Twitter acquisition he mentioned in his note to followers was that Musk felt the traditional media failed to discharge duties and responsibilities in a proper manner.
"In the relentless pursuit of clicks, much of traditional media has fueled and catered to those polarized extremes, as they believe that is what brings in the money, but, in doing so, the opportunity for dialogue is lost," Musk said.
Once Musk took control, Twitter underwent a dramatic transformation. One of his first moves was to revamp the platform’s verification system. Under the old regime, verified users (denoted by a blue checkmark) had to meet specific criteria, but Musk’s version allowed anyone to obtain the checkmark for a fee.