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Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Repair Windows errors before they cause bigger problemsFix Now →Elon Musk’s acquisition of Twitter began with a set price—$54.20 a share, or about $44 billion—but became a contested contract dispute before it closed in October 2022. Twitter later became X, and its corporate ownership changed again. Those milestones are separate from a 2026 investor-trial verdict about statements made during the proposed purchase.
How did Musk’s Twitter acquisition begin?
April 25, 2022: Twitter announces the agreement
Twitter announced a definitive agreement for an entity wholly owned by Musk to acquire the company for $54.20 per share in cash, valuing the transaction at approximately $44 billion. The company’s announcement described $25.5 billion in committed debt and margin-loan financing and approximately $21.0 billion in equity commitment. Those were announced financing commitments, not a statement of the precise financing mix ultimately used.
Twitter’s SEC-filed announcement said: “Upon completion of the transaction, Twitter will become a privately held company.” In its merger FAQ, Twitter said that if the deal closed, its common stock would no longer be publicly traded on the New York Stock Exchange. For shareholders whose shares qualified for the merger consideration, the agreement therefore meant cash consideration rather than continued ownership of publicly traded Twitter shares.
Why did the deal become a legal dispute?
July 8–12, 2022: Musk purports to terminate; Twitter sues
Twitter’s 2022 proxy statement says Musk’s representatives delivered a notice on July 8 purporting to terminate the merger agreement. On July 12, Twitter filed suit in Delaware seeking to enforce the agreement and require the transaction to close. These were contested positions in a contract dispute; the notice itself did not end the agreement or establish that either side’s allegations were true.
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The dispute concerned whether the parties had to complete the agreed transaction. It was not the later investor case about whether statements made during the proposed purchase misled investors.
When did the acquisition close, and what happened to shareholders?
October 27, 2022: The merger becomes effective
Twitter’s October 2022 SEC filing says the merger became effective on October 27. The transaction took Twitter private. Eligible shares were converted into the right to receive the merger consideration under the agreement, rather than remaining publicly traded Twitter shares.
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When did Twitter become X?
July 23, 2023: The reported rebrand
A secondary chronology dates Twitter’s rebrand as X to July 23, 2023. That milestone came after the 2022 closing: the company’s name and brand changed, but the rebrand was not a second acquisition.
How did X’s corporate ownership change after the acquisition?
March 28, 2025: xAI acquires X
A later SEC filing says xAI acquired X on March 28, 2025, making X a wholly owned subsidiary of xAI.
February 2, 2026: SpaceX acquires xAI
The same filing says SpaceX acquired xAI on February 2, 2026. In that reported ownership chain, X became part of SpaceX through xAI. These later corporate transactions do not change the date or status of Musk’s original Twitter acquisition, which closed in 2022.
What was the separate 2026 investor-trial verdict about?
March 20, 2026: A jury finds partial liability
The Associated Press reported that a jury found Musk liable for misleading investors with two statements related to the proposed Twitter purchase. The jury rejected a separate claim that he had schemed to defraud investors. AP also reported that Musk’s legal team said it would appeal. The reported verdict concerns investor statements during the proposed purchase—not whether the 2022 merger closed. The reporting cited here does not establish the later status of any appeal or whether the judgment became final.
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How do the two legal disputes differ?
| Legal matter | Issue | Forum | What it concerned |
|---|---|---|---|
| 2022 merger dispute | Contract performance | Delaware Court of Chancery | Whether the merger agreement should be enforced and the acquisition completed; the merger closed on October 27, 2022. |
| 2026 investor case | Alleged investor deception | Federal jury trial in California | Whether statements made during the proposed purchase misled investors; AP reported a partial liability verdict and an announced appeal plan, with later procedural status not established here. |
The cases addressed different legal questions. The Delaware dispute concerned completion of the acquisition contract; the investor trial concerned alleged deception of investors during the proposed deal.
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