Recall that on April 25, Twitter's board of directors unanimously accepted Musk's buyout offer of $44 billion.
World’s richest man and new Chief Executive Officer of Twitter, Elon Musk, has raised an alarm over a drop in the company’s revenue, nine days after he officially acquired it.
Musk, whose acquisition of Twitter began on April 14, this year concluded the deal on October 27; but the business magnate has been stirring up a lot of controversies following many changes he brought to his newly acquired American social media company including the $8 compulsory charge for verified users of the bird app.
Recall that on April 25, Twitter's board of directors unanimously accepted Musk's buyout offer of $44 billion, with the company set to be taken private, according to “Acquisition of Twitter by Elom Musk” on Wikipedia.
Musk had stated that he planned to introduce new features to the platform, including making its algorithms open-sourced, combat spambot accounts and promote free speech.
In July, Musk announced his intention to terminate the agreement, saying that Twitter had breached their agreement by refusing to crack down on spambot accounts. Following the announcement, the company filed a lawsuit against him in the Delaware Court of Chancery with a trial scheduled for October 17.
However, weeks before the date set for the trial, Musk made a U-turn and announced that he would move forward with the acquisition, hence, the deal was closed on October 27, with him becoming the new owner and CEO of Twitter.
Immediately Musk officially became the new owner of Twitter, fired several top executives, including previous CEO Parag Agrawal, and further proposed several reforms to Twitter, including the creation of a "content moderation council" to handle free speech.
But on Friday, the world’s richest businessman cried on Twitter saying that “Twitter has had a massive drop in revenue, due to activist groups pressuring advertisers, even though nothing has changed with content moderation and we did everything we could to appease the activists.
“Extremely messed up! They’re trying to destroy free speech in America.”
https://twitter.com/elonmusk/status/1588538640401018880