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Twitter’s board has agreed to sell the company to Elon Musk but the deal won’t be finalized until after shareholders vote to approve it.
Twitter hasn’t said when that vote will take place, but there’s some speculation it could happen at the company’s annual meeting on May 25.
On April 25, Twitter announced that it had agreed to sell the company to entrepreneur Elon Musk for approximately $44 billion.
The news was cheered by some of the social media platform’s critics. When, on April 28, a Facebook post started to circulate declaring that Musk had just "F-I-R-E-D the entire Twitter board," some users gloated.
"GOOD," one account said. Another just posted multiple laughing while crying emojis. But others still were skeptical that this latest development was accurate.
This post was flagged as part of Facebook’s efforts to combat false news and misinformation on its News Feed. (Read more about our partnership with Facebook.)
We reached out to Twitter about the claim but did not immediately hear back.
But Musk doesn’t own Twitter yet. The deal won’t be final until shareholders vote to approve it. Twitter hasn’t said when that vote will take place, but there’s some speculation it could happen at the company’s annual meeting on May 25.
On April 18, before the board agreed to sell Twitter, Musk tweeted that director salaries "will be $0 if my bid succeeds," saving approximately $3 million annually.
But it’s not accurate that Musk just fired the board.
We rate that claim False.
Facebook post, April 28, 2022
Elon Musk tweet, April 18, 2022
Twitter, Elon Musk to Acquire Twitter, April 25, 2022
ABC News, EXPLAINER: What's next now that Twitter agreed to Musk bid?, April 25, 2022
The New York Times, Here’s What’s Next for Elon Musk and Twitter: Live Updates, April 27, 2022
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