The Real Story of Musk’s Twitter Takeover
In April 2022, things were going surprisingly well for Elon Musk. Tesla stock had risen 15-fold in five years, making it worth more than the next nine auto companies combined. SpaceX in the first quarter of 2022 launched twice as much mass into orbit as all other companies and countries combined.
Its Starlink satellites had just succeeded in creating a privately owned internet, providing connectivity to 500,000 subscribers in 40 countries, including Ukraine. It promised to be a glorious year, if only Musk could leave well enough alone. But that was not in his nature.
Shivon Zilis, who manages Neuralink (Musk’s company working on implantable brain-computer interfaces) and is the mother of two of his children, noticed that by early April he had the itchiness of a video-game addict who has triumphed but couldn’t unplug. “You don’t have to be in a state of war at all times," she told him that month. “Or is it that you find greater comfort when you’re in periods of war?" “It’s part of my default settings," he replied.
As he put it to me, “I guess I’ve always wanted to push my chips back on the table or play the next level of the game." This period of unnerving success coincided, fatefully, with a moment when he had exercised some expiring stock options that left him with about $10 billion in cash. “I didn’t want to just leave it in the bank," he says, “so I asked myself what product I liked, and that was an easy question. It was Twitter." That January, he had confidentially told his personal business manager, Jared Birchall, to start buying shares.
The way that Musk blustered into buying Twitter and renaming it X was a harbinger of the way he now runs it: impulsively and irreverently. It is an addictive playground for him. It
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