Elon Musk Buys Twitter and How The Internet Reacted To It

Elon Musk Buys Twitter and How The Internet Reacted To It
Elon Musk

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.

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.

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.
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