Elon Musk now owns Twitter, all of it sold in a deal worth $44 billion
Elon Musk now owns Twitter, all of it sold in a deal worth $44 billion
Elon Musk now owns Twitter, all of it sold in a deal worth $44 billion. Elon Musk has finally bought 100 per cent stake in Twitter for approx $44 billion, around $54.20 per share, and all of it in cash.
It is official. Elon Musk has finally bought a 100 percent stake in Twitter for approx $44 billion, around $54.20 per share, and all of it in cash. The microblogging site has been evaluating Musk’s offer for the past several weeks. Musk previously said that Twitter has “extraordinary potential” and he wants to unlock it all.
Earlier this month, Musk purchased a 9.2 percent stake in Twitter. This made him the second-biggest shareholder in the company, the first one being Vanguard with a 10.3 percent stake in the company. Later, Twitter CEO Parag Agrawal welcomed Musk to be a part of the board but the billionaire rejected the offer. The tussle between Elon and Twitter has been going on since then.
Changes Musk is expected to bring
It all started last month when Musk asked users on Twitter if he should launch a new social media platform since Twitter doesn’t “adhere to the right to freedom of speech”. To which, most users said that he should buy Twitter instead. The Tesla CEO also complained that Twitter suppresses the right to free speech, which is believed to be the first thing he would solve as the owner of Twitter.
In the past several years, the billionaire often questioned Twitter for censoring some voices, including former US President Donald Trump. In fact, there was a time when the platform accused Musk of violating Twitter’s terms and guidelines for tweeting information related to coronavirus. Since Musk has often talked about Twitter not adhering to “freedom of speech”, one of the first changes could be seen in content moderation.
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Musk recently tweeted, “Free speech is essential to a functioning democracy. Do you believe Twitter rigorously adheres to this principle?” Around 70 per cent of 2 million respondents replied with NO.
Secondly, with Musk becoming the owner of Twitter, we could get the edit button very soon. Though, Twitter has already confirmed to be testing the edit option. Earlier this month, the company said that it will test the edit option with Twitter Blue subscribers first, followed by a stable release. Musk could help in the early release of the edit button for sure.
Musk recently tweeted, “Free speech is essential to a functioning democracy. Do you believe Twitter rigorously adheres to this principle?” Around 70 percent of 2 million respondents replied with NO.
Secondly, with Musk becoming the owner of Twitter, we could get the edit button very soon. Though, Twitter has already confirmed to be testing the edit option.
Earlier this month, the company said that it will test the edit option with Twitter Blue subscribers first, followed by a stable release. Musk could help in the early release of the edit button for sure.
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