Elon Musk has changed the game when it comes to success, determination and global takeover. You may know him as the founder and CEO of multiple companies and platforms including PayPal, Tesla and SpaceX. You may also know him as the man who named his child a combination of letters and numbers. In any case, he has built a global name for himself, and he is now about to take that name viral once again thanks to his purchase of Twitter.
WHAT IS GOING ON?
Musk and Twitter had a past agreement on the CEO’s purchase of the social network company. According to Tech Crunch, the agreement was brought to a halt as Musk discovered Twitter misled him over the number of bots that existed on the social network leading to a court hearing. Twitter and Musk have been going back and forth for months on the issue of misinformation. Musk backing out of a deal of this magnitude was a huge deal, but the fact that Musk and Twitter were going head-to-head in court was even bigger. There have been disagreements, but Twitter has accepted Elon Musk’s offer to buy the company for $44 billion, whether the reasoning is to avoid Twitter’s court takeover or an undercover plan that inspired Musk’s technical ideas. After a tweet made by Musk stating “Buying Twitter is an accelerant to creating X, the everything app” Twitter’s shares jumped 13 percent to $47.93, and the stock closed at $52, an increase of 22 percent on the day. Additionally, Musk is Twitter’s largest shareholder, owning 9.2 percent of the social media company. If the purchase proceeds, Musk has proposed he wants to make the company private, ultimately removing it from the stock market.
WHERE IS THIS GOING?
After the deal’s acceptance is confirmed, Musk is expected to own the company in a matter of weeks. The question is what exactly does he plan to do with the platform? Some sources believe he is going to reestablish the whole site with the inclusion of adding back suspended accounts like Donald Trump, creating an edit button for tweets, removing spam bots, an open-source algorithm, long-form tweets and more lenient content moderation policies. Some suspect a different motive suggesting that Musk is going to terminate Twitter in order to launch his new “everything app.” If this is so there is going to ultimately be backlash from users, stockholders and workers. The amount of stock that Twitter holds is substantial and stockholders have large shares in this company; users, some of whom are celebrities are able to use Twitter as a way to express their freedom of speech. Workers in the company may either be reluctant or completely eager for the change to come. With Twitter being one of social media’s biggest platforms since 2016, the changes to this platform won’t be taken lightly.
Whatever the case may be, Elon Musk continues to stun the world with his ability to achieve almost anything. Time will only tell what Musk plans to do with Twitter and this may be another step in his overall plans to create an extremely technologically advanced world. Until the deal is officially closed, all America can do is sit back and wait for the story to unfold.
Want to see more HCFSU? Be sure to like us on Facebook and follow us on Instagram, Twitter, TikTok, YouTube and Pinterest!