Carl Icahn Bought Twitter Stake worth $500 Million before Elon Musk’s Takeover

According to recent reports, Carl Icahn, an investor bought a Twitter stake worth $500 million. He bought the stock just before Elon Musk decided to take over the social media platform. Read the entire article to learn more about this news piece.

Carl Icahn

About the stake

Icahn bought a Twitter stake worth $500 million and was able to gain a good profit from it after the news spread that Elon Musk was finally ready to take over Twitter for $44 billion. People did not expect him to lose this battle, and if he did, he would have lost a lot of money so he is buying Twitter for the original offer that he had proposed in the month of April.

About Twitter and Elon Musk

For the people who are not aware of the deal that took place between Elon Musk and Twitter, this article will give you a summary of it. So, in April, Elon Musk proposed to buy Twitter for $44 billion. Twitter had accepted it and the deal was about to be finalized but suddenly Elon Musk backed out. He said he no longer wanted to go along with the deal. Twitter then sued Elon Musk and both of them were fighting a legal battle for quite some months. Now, Elon Musk has decided to take over the social media platform for the price he had offered earlier. He said so in a letter that he sent to the company on Monday, just before their trial was about to begin.

About Twitter

Twitter is one of the most popular microblogging social media platforms in the world. The company has made its mark all over the world and people love to use the platform to convey their feelings, news, updates, or anything in the shortest way possible. This social media platform is all about expressing yourself in the briefest way possible. It gives people a chance to express their thoughts in the crispest manner. Tweets are known to create quite an impact on people. Tweets have been used to stir up protests and campaigns against and for different issues all across the globe. The company understands the importance of having a conversation and how effective communication can lead to progress. Therefore, it has created a safe space for people to put out whatever they are feeling in a way that can lead to a conversation. The company is known to be transparent and keeps evolving with the times to give its users just what they need.