After Elon Musk buys Twitter for $44 Billion, everybody is taking about this and have many queries so let’s dive into this news.
Elon Musk Buys Twitter Details
Elon Musk, a self-described “free-speech absolutist,” secured a contract to buy Twitter for $44 billion on April 25, just eleven days after making an offer for the microblogging network.
Here is how it unfolded :
APRIL 4 : Elon Musk’s stake in Twitter became public.
APRIL 5 : Twitter’s CEO “Parag Agrawal“ announces Elon Musk will join the Twitter board.
APRIL 11 : Parag Agrawal announces that Elon Musk has decided not to join the Twitter board.
APRIL 14 : Elon Musk announces his offer to buy Twitter in a filing with the US Securities and Exchange Commission.
APRIL 25 : The board of Twitter AGREES to Musk’s offer.
Reasons, Why Elon Musk Buys Twitter?
Here are two main reasons & objectives which shows why Elon Musk buys Twitter for $44 billion:
1. To Make Twitter a platform for Free Speech
Elon Musk call himself a Free Speech Absolutist. He believes there should be limits on free speech but only countries can put limits on free speech and that too only if Twitter is operating in their country.
“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” said Musk in a statement.
Twitter as a platform does not have the authority to squash free speech in any way that they like and to decide what opinions should be on the platform and which ones should not be on the platform.
Elon Musk believes the algorithms that decide what content will work should be public.
2. To Clean Twitter of all the Spam Accounts
Musk has described himself as a “free-speech absolutist” but is also known for blocking or disparaging other Twitter users who question or disagree with him.
Elon Musk who not only wants to promote Free Speech but also wants to clean Twitter from all the Spam Accounts who trolls and harass the other users.
Musk, Twitter’s new owner, is the eighth most followed person on Twitter with 86.1 million followers (as of April 27, 2022, 3 pm).
Elon Musk vs Twitter
Twitter’s Market Valuation (as of April 14, 2022) was $37 billion on the day Elon Musk announced his takeover bid.
Elon Musk’s Net Worth = $260 billion