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Musk Adviser: Twitter Deal Work Never Stopped
4 Mar
Summary
- Adviser testified Musk's team continued Twitter deal work after tweet.
- Musk's team held due-diligence meetings on May 13, 2022, same day as tweet.
- Musk sold over $9 billion in Tesla stock to fund the Twitter buyout.
Elon Musk's financial adviser, Jared Birchall, testified on March 4, 2026, that the billionaire's team continued full efforts on the Twitter acquisition after Musk's May 13, 2022, tweet stating the offer was "temporarily on hold." Birchall, who manages Musk's family office, stated that due-diligence meetings occurred on the same day Musk sent the tweet, indicating no cessation of deal-related activities.
Birchall testified that Musk's approach to accumulating investors and speaking with banks remained unchanged. He also stated Musk never suggested an intent to lower the Twitter deal price. The $44 billion acquisition was ultimately finalized after a tumultuous six-month period, during which Musk sold over $9 billion in Tesla stock to help finance the purchase and its associated loans.
The trial is examining Musk's actions, including a tweet on the same morning of the 'hold' announcement affirming his commitment to the deal. Birchall explained that Musk was frustrated by Twitter executives' lack of information regarding the proportion of real user traffic versus bot-driven traffic, a key concern for Musk.
Former Twitter in-house lawyer Vijaya Gadde also testified about her termination by Musk after the acquisition. She stated that Musk instructed then-CEO Parag Agrawal to dismiss her immediately, without providing a reason. Agrawal is expected to testify later in the proceedings regarding the deal negotiations.
