Kurt Wagner

1 week ago | news.bloomberglaw.com | Joshua Sisco |Kurt Wagner

Mark Zuckerberg in federal court Monday was forced to revisit a time when he doubted Facebook would be able to compete in mobile photo-sharing, and decided to buy Instagram — testifying in a trial where the US government is arguing it should unwind that acquisition. Meta Platforms Inc.’s Zuckerberg kicked off a highly anticipated trial that’s been years in the making, where the US Federal Trade Commission is setting out to prove he bought his way to a social networking monopoly.

1 week ago | news.bloomberglaw.com | Kurt Wagner |Joshua Sisco

Mark Zuckerberg returned to federal court on Tuesday to answer questions about his acquisitions of Instagram and WhatsApp, which are at the center of a federal antitrust lawsuit that seeks to unwind the deals more than a decade after they were completed. The Meta Platforms Inc.

2 weeks ago | news.bloomberglaw.com | Joshua Sisco |Kurt Wagner |Riley Griffin

Mark Zuckerberg’s well-timed acquisitions of Instagram and WhatsApp, in 2012 and 2014 respectively, helped his social media empire reach billions of people. More than a decade later, the US Federal Trade Commission is targeting those deals in a landmark antitrust lawsuit set to go to trial Monday, alleging that the acquisitions were illegal, should never have been approved and should be broken up.

1 month ago | news.bloomberglaw.com | Kurt Wagner |Devon Pendleton

Musk “expressed willingness” to buy more shares, filing showsMusk initially purchased X for $44 billion including debtElon Musk invested $150 million to acquire more shares in X last year at a valuation approaching the price he paid for the company’s equity in 2022. Musk, who’s the majority shareholder of the company, has also “expressed willingness” to buy more minority stakes at the same valuation, according to Kingdom Holding Co.’s 2024 annual report.

1 month ago | news.bloomberglaw.com | Kurt Wagner |Devon Pendleton

Elon Musk invested $150 million to acquire more shares in X last year at a valuation approaching the price he paid for the company’s equity in 2022. Musk, who’s the majority shareholder of the company, has also “expressed willingness” to buy more minority stakes at the same valuation, according to Kingdom Holding Co.’s 2024 annual report. The Saudi investment firm has been a shareholder of X since 2011, when it was still known as Twitter.