Richest Man In the World Set To Take Control of Twitter After $43 Billion Deal
With money comes power. This is often true. Money may not buy happiness, but it can give people the power to do the things they want, buy the things they want and in some cases, make major changes that impact the world.
While some rich people, (cough, Jeff Bezos, cough) are happy trying to build their own rocket ships, others find that to be just the beginning. Elon Musk not only owns SpaceX and Tesla, but he is also about to own Twitter.
At this moment in time, Twitter is a publicly traded company. If Musk gets his way that will change, and he will turn it into a private corporation.
Musk started his bid for Twitter by buying 9.2% of Twitter’s shares. Twitter also announced that Musk would be joining the board. That wasn’t enough. He was far from done.
The same day that Twitter announced to employees that Musk was joining the board, they retracted that statement. Instead, Musk is working with Twitter to buy all shares of the company. According to Musk, his “final offer” is $54.20 per share. That works out to $43 billion, and he says he has the funding to pull it off.
Musk is attempting to buy Twitter because he wants to change the platform, and he doesn’t believe that it can be changed the way he envisions unless it becomes a private company.
Musk wrote, “I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy.” He added, “However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.”
Musk is not a fan of the way Twitter has banned some users due to what they deem misinformation. One famous example is former President Donald Trump’s lifetime ban from Twitter.
The deal is expected to go through later today.
Do you think Twitter needs to change? Do you think Musk will be able to make Twitter better than it currently is now? Do you think Twitter will make a mistake if they sell to Musk?