Elon Musk vs Twitter: The Biggest Tech Battle Is Underway!

On July 8, 2022, nearly 3 months after the Tesla CEO, Elon Musk made an offer to the popular social media platform Twitter to purchase it for a whopping $44 billion, he announces that he intends to terminate the multi-billion-dollar deal based on Twitter failing to provide him with data about spam and fake accounts on the platform.

In less than a week of Musk making this announcement, Twitter has decided to sue the richest man in the world and has filed a lawsuit against him in the Delaware Chancery Court, claiming that the billionaire has violated multiple terms that were mentioned in the agreement. They aim for the court to order Musk to uphold the deal and go ahead with the purchase.

Back in early April, the CEO of Twitter; Parag Agarwal publicly welcomed Elon Musk to join Twitter’s board of directors with a tenure lasting up till 2024, it was then that he refused to join the board and went ahead with offering to buy the social media platform for the price of $54.20 per share.

Before backing out of this deal, Musk had big plans for what he wanted to do with Twitter once he acquires the company. First and foremost, he wanted to make Twitter a free space for all users where no one should be restricted from sharing their opinions and views on a certain topic regardless of Twitter’s guidelines. Furthermore, he raised concerns about the presence of too many scams and spam bots on Twitter and how he would get rid of those accounts by ‘authenticating all humans.’

While the company has said that they’ve estimated only 5% of all accounts are made up of bots, Musk refuses to follow up on the deal unless these claims are proven in court and the data is revealed. Twitter is fairly confident about the case that they have built and want to go into the trial as quickly as possible. The legal team of the company claims that they will take only four trial days to prove their accusations and hope to start the case by mid-September. On the other hand, Musk’s lawyers are trying their best to push the trial to sometime in early 2023 on the account that the case will require a thorough review and analysis of huge amounts of data and thus would require ample time for preparation.

Although we’re unaware when this case will end up going to trial, there are some possible conclusions that it will lead to. The easiest option in theory would be the deal ending, and Musk having to pay off the $1 billion breakup fee. In the case that Twitter wins, either Musk would be ordered to buy the company or pay for damages. If Musk wins, he can walk away from this deal without paying the breakup fee. It is also possible that Twitter and Musk settle, or even make a new deal with a lower acquisition price. While seemingly unlikely now, Musk might even change his mind again and agree to buy Twitter at the previously agreed price. Needless to say, for those of us unaffected by the verdict, it is going to be an entertaining trial irrespective of the outcome.

?Which way do you predict this trial is going to go? Comment your answers below!

1.????Twitter Wins

2.????Musk Wins

3.????A Mutual Settlement Takes Place