Elon Musk, the Chief Executive Officer of Tesla and the world’s richest person, said on Friday he was terminating his $44 billion deal to buy Twitter because the social media company had breached multiple provisions of the merger agreement. Twitter’s Chairman, Bret Taylor, said on the micro-blogging platform that the Board planned to pursue legal action to enforce the merger agreement. “The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk...,” he wrote.
The possible unraveling of the deal is just the latest twist in a saga between Musk and one of the most influential social media platforms. Much of the drama has played out on Twitter, with Musk saying that the company was failing to live up to its potential as a platform for free speech.