Elon Musk’s purchase of Twitter in 2022 marked one of the most dramatic corporate takeovers in tech history. What began as a billionaire’s casual investment evolved into a $44 billion deal fraught with legal battles, public spats, and sweeping changes to the platform. Renamed X in 2023, the site has undergone massive transformations under Musk’s vision of an “everything app,” but not without controversies over free speech, content moderation, and financial valuation. As of November 2025, X continues to evolve amid ongoing debates about its role in society. This article chronicles the key events, from Musk’s initial stake to recent developments, drawing on timelines and analyses for a comprehensive view.
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Early Interest and Building a Stake (January–March 2022)
Elon Musk’s journey with Twitter started quietly in early 2022. In late January, Musk began purchasing Twitter shares in near-daily installments, amassing a significant position without immediate public disclosure. By March 14, his stake reached 9.2%, making him the company’s largest shareholder, valued at about $2.89 billion based on the previous day’s closing price. This revelation sent Twitter’s stock surging more than 27%. Musk, a prolific Twitter user with millions of followers, had long criticized the platform’s policies on free speech and moderation, setting the stage for his deeper involvement.
On April 4, Musk publicly disclosed his stake via a securities filing. The next day, April 5, Twitter announced he would join its board of directors. CEO Parag Agrawal welcomed him, noting Musk’s passion and criticism as assets. However, on April 10, Musk reversed course, declining the board seat. Agrawal emphasized that the company’s priorities remained unchanged, but the move hinted at Musk’s growing ambitions beyond mere investment.
The Unsolicited Offer and Resistance (April 2022)
Musk’s intent became clear on April 14, when he made an unsolicited offer to buy Twitter outright at $54.20 per share, valuing the company at approximately $43–44 billion—a 38% premium over the pre-announcement price. In a filing with the SEC, Musk framed the acquisition as essential for preserving free speech, stating Twitter needed to go private to realize its potential as a global platform for democracy.
Twitter’s board resisted initially. On April 15, they adopted a “poison pill” provision, allowing existing shareholders to buy additional shares at a discount if any entity acquired 15% or more, diluting Musk’s influence and raising the cost of a takeover. Undeterred, Musk secured $46.5 billion in financing commitments by April 21, including from banks and investors.
The standoff ended on April 25, when the board accepted Musk’s $44 billion offer. To fund the deal, Musk sold about $8.5 billion in Tesla stock over three days starting April 29 and later garnered over $7 billion from backers like Larry Ellison and Sequoia Capital on May 4.
Doubts, Legal Battles, and Reversal (May–October 2022)
Post-agreement, cracks appeared. On May 6, Musk pitched investors on quintupling Twitter’s revenue to $26.4 billion by 2028. But on May 10, he signaled policy shifts, like reversing Donald Trump’s ban. By May 12, Twitter imposed a hiring freeze and saw two executives depart.
The deal hit turbulence on May 13, when Musk tweeted it was “temporarily on hold” over concerns about spam and bot accounts, citing a Twitter filing claiming fakes were under 5% of users. He reaffirmed commitment hours later, but analysts saw it as leverage for a lower price. Shareholders sued Musk on May 26 for alleged stock manipulation, as shares fell over 12%.
By June 6, Musk threatened to withdraw unless Twitter provided bot data. On July 8, he formally moved to terminate, accusing Twitter of withholding information. Twitter sued on July 12 in Delaware Chancery Court to enforce the deal, labeling Musk’s actions as breaches that harmed stockholders. The court expedited the trial for October on July 19.
In August, whistleblower Peiter Zatko alleged security lapses at Twitter. Musk reversed on October 4, proposing to complete at the original price. The deal closed on October 27–28, 2022, for $44 billion. Musk fired top executives, including Agrawal, and took over as CEO. He announced a content moderation council (never formed) and enlisted help from Tesla and other ventures.
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Immediate Post-Acquisition Chaos: Layoffs and Policy Shifts (November–December 2022)
Musk’s ownership began with upheaval. On November 4, mass layoffs cut about 50% of the 7,500 workforce (3,700 employees), closing offices temporarily. Musk justified it by citing $4 million daily losses and offered severance. Lawsuits followed over WARN Act violations. Some laid-off staff were rehired on November 6, but contractors and critics were fired.
On November 16, Musk’s “hardcore” ultimatum led to hundreds resigning, reducing staff below 2,000. Offices closed again. Musk reinstated accounts like Trump’s on November 19 and shifted to “freedom of speech, not reach,” deboosting hate tweets.
In December, Musk disbanded the Trust and Safety Council and stopped enforcing COVID misinformation policies. Hate speech surged, and he banned the ElonJet account on December 14, updating doxxing rules. Journalists covering it were suspended on December 15, reinstated later. A poll on December 18 saw 57.5% vote for Musk to step down as CEO; he agreed to find a replacement.
Continued Turmoil and Leadership Changes (2023)
Layoffs persisted into 2023. In February, Musk altered the algorithm to boost his tweets, drawing criticism. Twitter removed free API access and updated violent speech policies. In March, the press email auto-replied with a poop emoji, and staff fell below 1,500.
April saw labels like “government-funded media” on NPR and others, leading NPR and CBC to pause activity. Musk named Linda Yaccarino CEO on May 11–12, starting in June. Trust and safety chief Ella Irwin resigned in June over moderation disputes. Musk restricted misgendering enforcement and scrapped misleading post reports.
Rebranding to X and Escalating Controversies (July 2023–2024)
On July 23, 2023, Musk rebranded Twitter to X, changing the logo and domain, aiming for an “everything app” like WeChat. “Tweets” became “posts,” and the @x handle was seized without compensation. In August, Musk proposed removing blocks (except DMs), and X faced fines for child safety lapses.
September saw Circles shut down and misleading report features scrapped, amplifying disinformation. In October, X charged new users $1/year in select countries, and verified accounts spread Gaza war misinformation. Valuation dropped to $19 billion (55% loss).
November 2023 brought antisemitism controversies: Musk endorsed a conspiracy tweet, leading to advertiser boycotts and $75 million revenue loss. X sued Media Matters and CCDH over reports. In December, EU probed disinformation, and value fell 65%.
In 2024, X removed NFT support in January and legacy verifications in March–April. A Brazil blockade in August resolved in October. Musk emphasized anti-censorship, hosting diverse opinions amid political shifts.
Recent Developments and Valuation Recovery (2025)
By March 2025, X reportedly regained its $44 billion valuation, per estimates, despite a major outage. Yaccarino resigned as CEO on July 9, 2025. Musk’s xAI integrated Grok chatbot for premium users in March. As of November 2025, X faces ongoing scrutiny over hate speech and misinformation, but Musk positions it as a centrist platform.
Impacts and Legacy
Musk’s acquisition transformed Twitter into X, but at a cost: staff reductions to under 1,500, hate speech surges (e.g., anti-Black slurs tripled), and advertiser exodus. CSAM enforcement weakened, and value plummeted before recovering. Proponents praise free speech expansions; critics decry bias and toxicity. With over 250 million users, X’s future remains uncertain, tied to Musk’s vision amid regulatory pressures.
The History of Elon Musk’s Acquisition of Twitter (Now X)
Elon Musk’s purchase of Twitter in 2022 marked one of the most dramatic corporate takeovers in tech history. What began as a billionaire’s casual investment evolved into a $44 billion deal fraught with legal battles, public spats, and sweeping changes to the platform. Renamed X in 2023, the site has undergone massive transformations under Musk’s vision of an “everything app,” but not without controversies over free speech, content moderation, and financial valuation. As of November 2025, X continues to evolve amid ongoing debates about its role in society. This article chronicles the key events, from Musk’s initial stake to recent developments, drawing on timelines and analyses for a comprehensive view.
Early Interest and Building a Stake (January–March 2022)
Elon Musk’s journey with Twitter started quietly in early 2022. In late January, Musk began purchasing Twitter shares in near-daily installments, amassing a significant position without immediate public disclosure. By March 14, his stake reached 9.2%, making him the company’s largest shareholder, valued at about $2.89 billion based on the previous day’s closing price. This revelation sent Twitter’s stock surging more than 27%. Musk, a prolific Twitter user with millions of followers, had long criticized the platform’s policies on free speech and moderation, setting the stage for his deeper involvement.
On April 4, Musk publicly disclosed his stake via a securities filing. The next day, April 5, Twitter announced he would join its board of directors. CEO Parag Agrawal welcomed him, noting Musk’s passion and criticism as assets. However, on April 10, Musk reversed course, declining the board seat. Agrawal emphasized that the company’s priorities remained unchanged, but the move hinted at Musk’s growing ambitions beyond mere investment.
The Unsolicited Offer and Resistance (April 2022)
Musk’s intent became clear on April 14, when he made an unsolicited offer to buy Twitter outright at $54.20 per share, valuing the company at approximately $43–44 billion—a 38% premium over the pre-announcement price. In a filing with the SEC, Musk framed the acquisition as essential for preserving free speech, stating Twitter needed to go private to realize its potential as a global platform for democracy.
Twitter’s board resisted initially. On April 15, they adopted a “poison pill” provision, allowing existing shareholders to buy additional shares at a discount if any entity acquired 15% or more, diluting Musk’s influence and raising the cost of a takeover. Undeterred, Musk secured $46.5 billion in financing commitments by April 21, including from banks and investors.
The standoff ended on April 25, when the board accepted Musk’s $44 billion offer. To fund the deal, Musk sold about $8.5 billion in Tesla stock over three days starting April 29 and later garnered over $7 billion from backers like Larry Ellison and Sequoia Capital on May 4.
Doubts, Legal Battles, and Reversal (May–October 2022)
Post-agreement, cracks appeared. On May 6, Musk pitched investors on quintupling Twitter’s revenue to $26.4 billion by 2028. But on May 10, he signaled policy shifts, like reversing Donald Trump’s ban. By May 12, Twitter imposed a hiring freeze and saw two executives depart.
The deal hit turbulence on May 13, when Musk tweeted it was “temporarily on hold” over concerns about spam and bot accounts, citing a Twitter filing claiming fakes were under 5% of users. He reaffirmed commitment hours later, but analysts saw it as leverage for a lower price. Shareholders sued Musk on May 26 for alleged stock manipulation, as shares fell over 12%.
By June 6, Musk threatened to withdraw unless Twitter provided bot data. On July 8, he formally moved to terminate, accusing Twitter of withholding information. Twitter sued on July 12 in Delaware Chancery Court to enforce the deal, labeling Musk’s actions as breaches that harmed stockholders. The court expedited the trial for October on July 19.
In August, whistleblower Peiter Zatko alleged security lapses at Twitter. Musk reversed on October 4, proposing to complete at the original price. The deal closed on October 27–28, 2022, for $44 billion. Musk fired top executives, including Agrawal, and took over as CEO. He announced a content moderation council (never formed) and enlisted help from Tesla and other ventures.
Immediate Post-Acquisition Chaos: Layoffs and Policy Shifts (November–December 2022)
Musk’s ownership began with upheaval. On November 4, mass layoffs cut about 50% of the 7,500 workforce (3,700 employees), closing offices temporarily. Musk justified it by citing $4 million daily losses and offered severance. Lawsuits followed over WARN Act violations. Some laid-off staff were rehired on November 6, but contractors and critics were fired.
On November 16, Musk’s “hardcore” ultimatum led to hundreds resigning, reducing staff below 2,000. Offices closed again. Musk reinstated accounts like Trump’s on November 19 and shifted to “freedom of speech, not reach,” deboosting hate tweets.
In December, Musk disbanded the Trust and Safety Council and stopped enforcing COVID misinformation policies. Hate speech surged, and he banned the ElonJet account on December 14, updating doxxing rules. Journalists covering it were suspended on December 15, reinstated later. A poll on December 18 saw 57.5% vote for Musk to step down as CEO; he agreed to find a replacement.
Continued Turmoil and Leadership Changes (2023)
Layoffs persisted into 2023. In February, Musk altered the algorithm to boost his tweets, drawing criticism. Twitter removed free API access and updated violent speech policies. In March, the press email auto-replied with a poop emoji, and staff fell below 1,500.
April saw labels like “government-funded media” on NPR and others, leading NPR and CBC to pause activity. Musk named Linda Yaccarino CEO on May 11–12, starting in June. Trust and safety chief Ella Irwin resigned in June over moderation disputes. Musk restricted misgendering enforcement and scrapped misleading post reports.
Rebranding to X and Escalating Controversies (July 2023–2024)
On July 23, 2023, Musk rebranded Twitter to X, changing the logo and domain, aiming for an “everything app” like WeChat. “Tweets” became “posts,” and the @x handle was seized without compensation. In August, Musk proposed removing blocks (except DMs), and X faced fines for child safety lapses.
September saw Circles shut down and misleading report features scrapped, amplifying disinformation. In October, X charged new users $1/year in select countries, and verified accounts spread Gaza war misinformation. Valuation dropped to $19 billion (55% loss).
November 2023 brought antisemitism controversies: Musk endorsed a conspiracy tweet, leading to advertiser boycotts and $75 million revenue loss. X sued Media Matters and CCDH over reports. In December, EU probed disinformation, and value fell 65%.
In 2024, X removed NFT support in January and legacy verifications in March–April. A Brazil blockade in August resolved in October. Musk emphasized anti-censorship, hosting diverse opinions amid political shifts.
Recent Developments and Valuation Recovery (2025)
By March 2025, X reportedly regained its $44 billion valuation, per estimates, despite a major outage. Yaccarino resigned as CEO on July 9, 2025. Musk’s xAI integrated Grok chatbot for premium users in March. As of November 2025, X faces ongoing scrutiny over hate speech and misinformation, but Musk positions it as a centrist platform.
Impacts and Legacy
Musk’s acquisition transformed Twitter into X, but at a cost: staff reductions to under 1,500, hate speech surges (e.g., anti-Black slurs tripled), and advertiser exodus. CSAM enforcement weakened, and value plummeted before recovering. Proponents praise free speech expansions; critics decry bias and toxicity. With over 250 million users, X’s future remains uncertain, tied to Musk’s vision amid regulatory pressures.