Elon Musk has finally purchased a 100% stake in Twitter for $44 billion (roughly $54.20 a share). Once the deal is finalized, Twitter will be a private corporation again, controlled entirely by Musk. The firm first turned down Musk’s offer, but it will now ask shareholders to vote to approve the deal. The deal is expected to be completed by the end of 2022. Tesla’s CEO earlier stated that Twitter has “extraordinary potential,” which he wishes to unlock. He also demanded a slew of adjustments, ranging from easing content restrictions to eliminating false accounts.
🚀💫♥️ Yesss!!! ♥️💫🚀 pic.twitter.com/0T9HzUHuh6— Elon Musk (@elonmusk) April 25, 2022
According to Forbes magazine, Musk is the world’s richest person, with a net worth of $273.6 billion, largely due to his shareholding of electric vehicle producer Tesla, which he runs. He is also the CEO of SpaceX, an aerospace company.
Celebs’ and Fans’ Reaction to the Deal
The microblogging site has been bombarded with reactions and memes since the news broke that Twitter’s board had decided to accept Tesla CEO Elon Musk’s bid to purchase the company. People expressed their opinions on Musk’s takeover of Twitter. While some saw this as a move backward, others saw it as a positive step forward.
This deal is dangerous for our democracy. Billionaires like Elon Musk play by a different set of rules than everyone else, accumulating power for their own gain. We need a wealth tax and strong rules to hold Big Tech accountable.— Elizabeth Warren (@SenWarren) April 25, 2022
WHO DID THIS pic.twitter.com/M7mIOr1hLm— Marc Andreessen (@pmarca) April 25, 2022
Reader, he bought this website for $44 billion instead. pic.twitter.com/4kFkymO6lu— Working Families Party 🐺 (@WorkingFamilies) April 25, 2022
In principle, I don’t believe anyone should own or run Twitter. It wants to be a public good at a protocol level, not a company. Solving for the problem of it being a company however, Elon is the singular solution I trust. I trust his mission to extend the light of consciousness.— jack (@jack) April 26, 2022
Elon Musk told the United Nations he would give them $6 billion to end world hunger if they showed him a detailed plan of how they would use the money. They called his bluff and gave him their plan— and then they never got the money. Now he’s buying Twitter for $45 billion.— No Lie with Brian Tyler Cohen (@NoLieWithBTC) April 25, 2022
"You can find me on Instagram if Elon Musk buys Twitter" is the new "I'm moving to Canada if Donald Trump becomes President."— Joe Pompliano (@JoePompliano) April 25, 2022
Editorial cartoon by Michael de Adder, Washington Post, April 14, 2022.— Sharry Wilson (@SharryWilson) April 25, 2022
Elon Musk has now acquired Twitter. I will be leaving Twitter asap if Donald Trump is allowed back on the platform. Anyone else with me?#ElonMuskBuyTwitter #KeepTrumpOffTwitter pic.twitter.com/epJ5jWbIFc
Changes Elon Musk might bring to Twitter
However, no one is quite sure about the changes that Musk might bring to Twitter, we have compiled a number of changes he has hinted at in his recent interviews and statement.
- ‘Free speech is the ‘bedrock’ of a functioning democracy.’ Musk has been a critic of the restricted content policies as a consequence of which we might expect him to bring about a change and loosen them a bit. These policies earlier resulted in the suspension of some significant accounts like that of former US President Donald Trump.
- “The power of corporations to dictate policy is greatly enhanced if Twitter depends on advertising money to survive.”Earlier in April, Mr. Musk suggested in a series of now-deleted tweets that he’d like to get rid of advertisements on Twitter’s premium subscription service Twitter Blue after becoming the company’s largest shareholder. He indicated that Twitter Blue might be improved and that it may be used as a source of revenue in the future. He’s also mentioned that he wants to reduce its cost.
- Mr. Musk has spoken of “defeating the spam bots”, one pledge that is likely to be extremely popular with Twitter users.
- In a Twitter poll before his offer for Twitter, Musk questioned his followers if they wanted an edit button. As a result, Twitter confirmed that it was working on a feature that would allow users to edit tweets after they had been posted.