Twitter will soon belong to Elon Musk. In a historic deal, Elon Musk has offered $44 billion to buy Twitter. The multi-billionaire will then hold $54.20 per share of the company, according to the official press release. The historic deal took time, as Twitter’s employees were not happy at the prospect of having Elon take hold of Twitter.
Twitter is a place for political debates and discussions all over the world. The world’s most renowned politicians and activists raise their voices against the most-important issues the world is facing now. However, Twitter has demonstrated strict policies to prevent hate speech. It has also blocked the accounts of phenomenal personalities, such as former U.S. President Donald Trump.
Twitter employees are now in a shock and don’t even know what to do. Less than two weeks ago, Elon Musk bought the largest shares of the company which were valued at 9.2%. He also received an open invitation to join the board of directors of the company, which he solemnly declined. There was a reason. Joining the board of directors would curtail his power legally to exceed the shares by 14%.
So, he found it best to stay away from any legal issues. Now, when Elon has made a historic deal to buy Twitter, there are essential questions that are tinkering in the minds of many people. Let’s take an overview of why Elon Musk has made an irresistible offer to buy Twitter at such an alarmingly high cost.
Why does Elon Musk want to own Twitter?
Elon Musk is an eccentric leader and a visionary business person. He sees opportunities at the far-reaching ends of the world. The multi-billionaire wants to see a free world where people can express their views without fear of discrimination and vulnerability. He is the CEO of SpaceX and owns a large stake in Tesla, the electric vehicle manufacturer. According to Forbes magazine, Elon Musk is the richest person in the world, with possessions valued at $273.6 billion.
I love Twitter
— Elon Musk (@elonmusk) December 21, 2017
In December 2017, Elon Musk tweeted, “I love Twitter.” In a reply, Dave Smith said, “You should buy it then.” Then, in response, Elon replied, “How much is it?” So, is that the entire story? There should be something else also? You are right. Elon Musk indeed loved Twitter, as it is a place for global debate on crucial topics ranging from politics to domestic issues.
Elon Musk and free speech
He also recently tweeted with the list of most-followed people on Twitter, “Is Twitter dying?” The question is strikingly bold and raises more questions. Then, Elon Musk has long desired to make innovative changes to Twitter’s policies, like editing buttons and defeating the spam bot. For years, Twitter has been heavily chastised for its stringent policies.
Twitter removed the account of Donald Trump, citing the reason as “danger of incitement and violence” following the event on Capitol Hill. However, Elon Musk is an advocate of free speech and freedom of expression. He wants to see his opponents spitting fire while maintaining the decorum of a platform.
🚀💫♥️ Yesss!!! ♥️💫🚀 pic.twitter.com/0T9HzUHuh6
— Elon Musk (@elonmusk) April 25, 2022
In the most recent tweet, Elon Musk has shown vociferously his support for free speech and for bringing innovation to Twitter. He said, “Twitter is the digital town square.” Moreover, Elon wants to make Twitter a better place and wants to give users more freedom. Defeating the spam bot and increasing the human experience are new resolutions for multi-billionaires. It may seem a simple job to unblock the true potential of Twitter, but Elon Musk would need the unrelenting support of Twitter to bring back its reputation.
Elon Musk’s stunning offer of $44 billion to buy Twitter
Less than two weeks ago, Elon Musk bought the largest share of Twitter, taking up to 9.2% of the total shares. After this great deal, Twitter offered Elon Musk to join the board. However, Elon outrightly turned down the offer.
If Elon had joined the board, it would have curtailed his power to gain more shares of Twitter above 14%. The acquisition of Twitter by Elon Musk is a historic moment in the world of social media platforms. Things were uncontrolled and bleak before the formal offer of Elon Musk.
Matt Levine noticed that once Elon made the offer, everything followed seamlessly. Moreover, to prevent Elon Musk from making a bogus offer, the board of Twitter put in place a “poison pill” to stop him from acquiring more shares of Twitter. These moves from Twitter forced Elon to prove that he had the essential financing for this tremendous deal.
So, Twitter is now considering Elon’s offer as the best offer possible. Twitter is a different place for everyone. Some want to eavesdrop on the most important happenings around the world, while others want to follow the updates from the leading personalities. However, the fundamental drive of Twitter remained different under the supervision of different CEOs.
I hope that even my worst critics remain on Twitter, because that is what free speech means
— Elon Musk (@elonmusk) April 25, 2022
CEO Jack Dorsey focused on Twitter as a platform to focus on “what’s happening”. Chief Operating Officer Anthony Noto tried to make Twitter a sole destination for live video. However, for Elon Musk, Twitter would be a place for free speech.
Elon Musk’s offer is stunning and huge. The irresistible offer would give him total control over Twitter. However, Twitter employees are not happy with this enormous step. They want to see themselves as an essential part of Twitter. Twitter has remained well-known for its stringent policies and restrictions.
Elon Musk wants to give a free ride to every person who wants to share their personal opinions and extreme views. This will most probably bring Donald Trump back to the platform. In a revolutionary move, Elon would make public the Twitter algorithm so that people could better understand how Twitter works.
Twitter’s acquisition by Elon Musk would bring more changes than one might have expected. Elon put his eyes on Twitter from the start. His will to change some of the old Twitter policies compelled him to strike this deal. Let’s see what the future holds for Twitter and its users.