CURRENT AFFAIRS

Detailed explanation-1: -Business magnate Elon Musk initiated an acquisition of American social media company Twitter, Inc. on April 14, 2022, and concluded it on October 27, 2022. Musk had begun buying shares of the company in January 2022, becoming its largest shareholder by April with a 9.1 percent ownership stake.

Detailed explanation-2: -Twitter co-founder and ex-CEO Jack Dorsey has addressed the mass sackings at his former firm, apologising for growing Twitter “too quickly". Half of the social media giant’s staff are being fired, a week after Elon Musk bought it in a $44bn deal.

Detailed explanation-3: -On Oct. 28, he finally did. Tesla CEO Elon Musk completed the deal to acquire Twitter at his original offer price of $54.20 a share at a total cost of roughly $44 billion.

Detailed explanation-4: -A lot has happened since Elon Musk completed his acquisition of Twitter last month-layoffs of thousands of employees, firings of engineers critical of him and an impersonation of an official Eli Lilly account that caused the pharmaceutical company’s stock to drop.

Detailed explanation-5: -Elon Musk became the owner and CEO of Twitter on October 27, 2022, after acquiring the social media company for $44 billion.