Billionaire and new Twitter owner Elon Musk created more headlines this week as the saga of his controversial takeover of the social media giant finally came to an end.
On Wednesday, the Tesla founder posted a video on his Twitter account showing him walking into the company’s headquarters holding a sink, with the caption ‘Entering Twitter HQ – let that sink in!’
Entering Twitter HQ – let that sink in! pic.twitter.com/D68z4K2wq7
— Elon Musk (@elonmusk) October 26, 2022
Musk’s takeover of Twitter has been shrouded in legal complications since he announced his intention to purchase the company in April earlier this year. Despite Twitter’s board of directors unanimously accepting the $44bn offer, Musk’s attempts to withdraw his bid entirely caused the company to pursue legal action against the entrepreneur.
However, this month has seen Musk and his legal team decide to move forward with the proposed takeover, despite attempts to reduce the price of purchase by up to $10bn. Today was the deadline for the takeover to go ahead, with Musk risking facing a legal trial if the deal was not completed, and it seems the deal was completed in the early hours of this morning for the original $44bn.
the bird is freed
— Elon Musk (@elonmusk) October 28, 2022
Having lingered on for over six months, the takeover has turned into something of a public relations nightmare for Musk, alongside the financial damage that has been inflicted upon both him and the company he is soon to own. While it has been suggested by certain commentators that the entire takeover was little more than a PR stunt by Musk, in the end, the deal may have caused as much damage to the entrepreneur’s reputation as it has done to his Tesla company’s stock value.
However, his recent social media activity appears to show Musk taking a more light-hearted approach to the deal, and now the deal appears to have been secured, there’s no question that Twitter is a valuable and influential asset to have in his armoury. In the case of Musk, it is argued that his ability to manage his public image has contributed to his value and net worth.
Carefully controlling your public relations efforts can have a number of benefits for your business, and this can be easy to implement within your social media and general content strategy. If you’re looking for useful guidance or support with your content needs, do not hesitate to contact our amazing content team at Engage Web today.
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