After initially agreeing to buy Twitter for 44 billion dollars, tech mogul Elon Musk is reneging on the deal. Earlier this year, Musk critiqued the site’s inability to police bot accounts. He also criticized how Twitter handled free speech and said once he becomes the owner, he’ll reinstate former President Trump’s profile.
At the time, Musk claimed permanently banning Trump from Twitter was “morally bad” and “alienated half the country.” The businessman also contemplated starting his rival social media company; however, it appears he wasn’t serious about the matter. In April, Elon Musk became the primary shareholder of Twitter, buying a 9 percent stake in the company.
Chairman Bret Taylor tweeted, confirming the board’s decision to sue the billionaire. However, this isn’t Elon’s first time swimming in hot water. In fact, there is a long list of legal issues dating back as far as 2006.
2022 Not Necessarily A Good Year For Elon Musk
This year alone, Elon Musk was sued by former Tesla employees for unjustly terminating employment without proper notice. Keith Johnson filed a $258 billion lawsuit against Tesla, Musk, and SpaceX for an alleged pyramid scheme. Johnson claims Musk tricked him and other investors after he promoted meme-based cryptocurrency Dogecoin.
The Securities and Exchange Commission revealed he and his brother are being investigated for insider trading. This occurred after Kimbal Musk sold off $108 million worth of stock a day after Elon asked Twitter users if he should give up 10 percent of his overall stake. Luckily for the Musks, financial experts say this could be hard to prove.
Earlier this year, it came out that Musk paid a flight attendant $250,000 to keep quiet after alleged sexual harassment. While Musk does have an armada of stans willing to blindly defend him on social media, the accusations keep piling up.
The Twitter debacle is still in the air, but the court will likely decide the case. However, whether Musk buys the platform or not, he will still receive backlash from critics.
Written by Kimberly Stelly | Instagram
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