The 7-Days Twitter Makeover by Elon Musk
Earlier this year, Elon Musk announced his decision to buy Twitter. Seven months of petty tweets, accusations, and court battles finally led to the world’s richest man closing on a purchase of the 15th most popular social networking site. Shareholders approved the sale of Twitter in September when Elon Musk purchased these shares for $54.20 per share.
From November 8th, Twitter will no longer trade on public markets and no longer be listed on the New York Stock Exchange. In essence, Musk benefits from Twitter’s status as a private company. Companies that are not publicly traded are not required to report quarterly financial results and are also easier to control and subject to fewer regulations.