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Elon Musk, the billionaire entrepreneur, agreed to purchase Twitter Inc for $44 billion. TWTR 5.66% accepted Elon Musk’s bid to acquire the company and go private. The most influential richest person in the world would now get control over one of the world’s top 4 social media networks.
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Twitter Goes Under Elon Musk
The TESLA CEO said he wanted to privatize Twitter by owning it since he thinks it’s not performing its best as a platform for free speech. In a joint statement, Mr. Musk said to Twitter that he would make its service “better than ever” with all the new features.
The 50-year-old billionaire Tweeted, with hearts, stars, and rocket emojis in a statement, “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.”
Envisioning The Future Of Twitter….
Well, if it goes through well, this takeover would mark one of the most substantial acquisitions of a tech company that’s probably going to influence social media decisions.
Till now, Twitter has been through many wrangles to harmonize skim conversations with appealing content. Through this deal, Musk will be bringing a more independent approach to speech moderation.
On Monday, after The Wall Street Journal’s first report about the deal closure, Mr. Musk wrote, “I hope that even my worst critics remain on Twitter, because that is what free speech means.” This was a straight-cut indication that Twitter to be the largest hub for wide-ranging disagreement and discourse.
The $44 billion deal ends the change of the core of Twitter. Several board members and executives opposed this takeover approach of Mr. Musk. The Twitter employees, regulators, and users are now polarized over the big tech giants’ brandish. How Twitter would behave now that’s a big question.
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