Twitter News: Elon Musk admits only buying the company after thinking court would force him to

April 13, 2023

The Twitter buyout was a rollercoaster ride, with Elon Musk initially expressing enthusiasm for it only to refuse later due to some concerns. Despite this, it was concluded in October 2022, without the billionaire admitting whether the conclusion of the acquisition was forced down his throat (though it’s kind of obvious). Now, Musk verbally confessed it. (via Tech Crunch)

A lot of things have changed on Twitter after Musk officially bought it. Before the deal was closed, however, every step of the process made the headlines last year, especially after Musk divulged that the actual number of Twitter users was only inflated through the presence of bots. And despite repeated refusals and bringing the deal into a legal battle, the acquisition was finalized. In an interview with BBC reporter James Clayton on Twitter Spaces, Musk revisited the journey and shared why after a series of endless mind-changing decisions, he ended up deciding just to take the deal.

Clayton: So then you change your mind again, and decided to buy it – did you do that? Did you do that?

Musk: Well, I kind of had to.

Clayton: Right. Did you do that, because you thought that a court would make you do that?

Musk: Yes.

Clayton: Right.

Musk: Yes, that is the reason.

Clayton: So you were still trying to get out of it. And then you just were advised by lawyers, “Look, you’re going to buy this?”

Musk: Yes.

This confession is not really necessary since it was obvious back then that the case was not favoring Musk in any way, especially with the acquisition announcement greatly affecting the company’s stock price. Yet, it somehow gives clarity to what really happened. But aside from that, this clarity could also probably explain the abrupt and sloppy company changes right after Musk’s takeover, resulting in layoffs and the slow deterioration of the Twitter experience.

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