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Pinterest Stock Soars After Activist Firm Elliott Management Reveals It’s Now the Company’s Largest Shareholder

The social photo platform Pinterest got a new CEO a month ago, and now it has a new largest shareholder. Elliott Management, the investment firm known for its activism, disclosed on Monday that it is now the company’s largest individual shareholder, citing its “highly strategic business with significant potential for growth.” Pinterest shares soared more […]

The Gaming Creator Economy Goes Public as FaZe Clan Closes $725M SPAC Merger

As the so-called creator economy continues to be dominated by tech platforms like TikTok, YouTube and Snapchat, the creators themselves are increasingly looking for ways to get their own piece of the pie. On Wednesday, one of the most notable shifts in that direction happened, as FaZe Clan, the gaming and content creator collective, went […]

Elon Musk Tells Twitter He Is “Terminating” His Acquisition of the Company

Elon Musk told Twitter on Friday that he is “terminating” his proposed acquisition of the social media company, arguing in a letter that the company was in “breach” of the merger agreement. Musk’s letter said that he wants out of the deal “because Twitter is in material breach of multiple provisions of that Agreement, appears […]

Donald Trump’s Tech Merger in Jeopardy as Grand Juries Subpoena SPAC Partner

Donald Trump’s nascent media and technology company may need to start looking for other financing options, as federal investigations into its merger partner threaten to delay or kill the deal. On Monday morning, Digital World Acquisition Corp., the special purpose acquisition company (SPAC) that had agreed to merge with Trump Media & Technology Group, disclosed […]

Elon Musk Says Twitter “Actively Resisting” Terms of Merger Agreement, Threatens Termination of Deal Over Spambot Dispute

In a letter sent to Twitter Monday morning, an attorney for Elon Musk wrote that the company “is actively resisting and thwarting his information rights” in regards to a dispute over spam accounts, and threatened to terminate the deal. The letter, sent by a lawyer for Skadden Arps, follows a weeks-long back and forth between […]

Elon Musk Sells Billions of Dollars in Tesla Stock Ahead of Twitter Purchase

Elon Musk needs to come up with $21 billion in cash in order to complete his purchase of Twitter (the rest of the $44 billion deal is being financed with debt and a margin loan). So on Thursday, Musk sold some of his stock in Tesla. A lot of it. According to forms filed with […]

Done Deal: Twitter Agrees to Sell Itself to Elon Musk

It’s official: Elon Musk will buy Twitter. The Tesla and SpaceX CEO and the social media firm unveiled the deal Monday, with the company accepting an offer that values it at about $44 billion. Once the deal is completed, the richest person in the world will own arguably the most influential social platform in the […]

Elon Musk Says He’s Secured $46.5B for Twitter Takeover Bid, Weighs Tender Offer

For Elon Musk’s takeover effort of Twitter, it’s “Funding Secured.” The billionaire said in a new securities filing Thursday that he had secured the $43 billion or so he would need to acquire Twitter for $54.20 per share, and that he is weighing a tender offer to acquire the company for that price. If Musk […]

Elon Musk Explains Why He Wants to Buy Twitter, Says He Wants to “Open Source the Algorithm”

Elon Musk, in his first public appearance since his $43 billion bid to buy Twitter became public, said that he made the offer because “Twitter has become kind of the de facto town square, so it is just really important that people have the reality and the perception that they are able to speak freely […]

Elon Musk Joining Twitter’s Board of Directors One Day After Acquiring Massive Stake

Elon Musk is officially joining Twitter. The company, not the service. Just one day after disclosing that he had purchased a more than 9 percent stake in Twitter for about $2.9 billion, the social media company is appointing the Tesla and SpaceX founder to its board of directors. In a securities filing Tuesday, Twitter said […]

Twitter’s New CEO Parag Agrawal Received $30M Pay Package in 2021

Twitter CEO Parag Agrawal received a compensation package worth more than $30.3 million in 2021, tied to his promotion to the company’s top job. Agrawal succeeded Twitter co-founder Jack Dorsey late last year. Dorsey remained on Twitter’s board of directors after Agrawal’s promotion, but will leave when his term ends this year. Dorsey was paid […]

Donald Trump’s Media and Tech Company Facing SEC Investigation

Former President Donald Trump’s media company thinks it can attract 10 million paying subscribers to a new streaming service, and that users will be willing to pay a monthly fee “closer to that of Netflix given President Trump’s highly enthused base.” But first, it will have to navigate a federal investigation. According to documents filed […]