TWITTER ACQUIRED BY ELON MUSK!!!
Mr. Musk, who made the surprise offer lower than two weeks ago, claimed that Twitter had "tremendous
eventuality that he'd unleash. He also demanded a
slew of adaptations, ranging from loosening content restrictions to
barring bogus accounts. The company first turned down
Mr Musk's offer, but it'll now put the offer to
a vote among shareholders.
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According to Forbes magazine,
Mr Musk is the world's richest person, with a net worth of$273.6 billion, owing substantially to his
power of electric vehicle patron Tesla, which
he also controls. He's also the CEO of Space X, an aerospace company.
The move comes
as politicians and controllers put adding pressure on
Twitter over the content that appears on its point. Its sweats to moderate
misinformation on the point have garnered review from both the left and the right. It banned former US
President Donald Trump, conceivably its most influential
stoner, last time in one of its most high profile measures, citing the possibility of "incitement of violence"
"A lot of
people are going to be really angry
with West Coast high tech being the fact arbrtrator of free expression, "Mr
Musk said at the time.
" No matter
who owns or manages Twitter, the chairman has long been bothered about the power of
huge social media platforms, "White House spokesman Jen
Psaki told journalists.
The purchase was described as
a" amazing development in
the world of social media "by Julian Knight, head of
the UK's Digital, Culture, Media and Sport Committee, on Twitter.
"It'll be
intriguing to observe how a
intimately held Twitter ( led by a man who's a free speech absolutist) reacts to worldwide non supervisory sweats."He points out that
Twitter declared last week
that it would enjoin announcements that dispute the
scientific agreements on the climate catastrophe, admitting that false information might peril environmental
enterprise.
The right in
the United States has replied appreciatively to the news of the preemption,
though Mr. Trump told Fox News on Monday
that he'd no plans to return to the platform.
CONTROVERSY & INCIDENTS!!!
Mr. Musk, who has further than 80 million
Twitter followers, has a tumultuous history on
the network.
US fiscal controllers indicated him of
deceiving Tesla investors with his tweets in 2018, allegations that were settled for$ 40 million and which Mr Musk continues
to reject.
In 2019, he was sued
for libel, which he won, after labeling a diver involved in
the deliverance of schoolboys in Thailand "pedoman"
on the platform. Mr. Musk, who has a history of
wrangling with intelligence and blocking critics, suggested on Monday that he saw Twitter as a place for dialogue. Just hours
before the contract was
bared, he remarked, "I hope that "indeed my harshest opponents remain on Twitter, since that's what free expression means."
NEW BEGINNING OF TWITTER WITH MUSK!!!
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As part of the appropriation, which is anticipated to close subsequently this time, Twitter's shares will be barred and it will be taken private.
Mr. Musk has suggested this will give him freedom to make the changes he wants to
the business.
Among other ideas, he has suggested allowing longer posts and introducing the capability to edit them after they have been published. Twitter shares on Monday closed further than 5 advanced after the deal was announced. But the price remained lower than Mr Musk's $54.20 per share offer, a sign that Wall Street
believes he is overpaying for the establishment.
Mr. Musk has said he does not " watch about the
economics"
of the purchase. Still, he will take on a company with a cheque red record of financial performance.
Despite its influence, Twitter has rarely turned a profit and users growth, particularly in the US, has slowed.
The company, founded in 2004, ended 2021 with $ 5bn in profit and 217 million quotidian stoners encyclopedic-a bit of the figures claimed by other platforms analogous as Face book.
Bret Taylor, chairman of Twitter's board, said it had fully assessed Mr. Musk's offer and it was "the swish path forward for Twitter's
stockholders". It is not clear who will lead the company moving forward. Twitter is presently led by Parag Agrawal,
who took over from co-author and former master Jack Dorsey last November.
But in his offer document, Mr Musk told Twitter's board"I don't have confidence in operation."
Mr Agrawal told workers on Monday that the future of Twitter
is uncertain. "Once the deal closes, we don't know which direction the platform will go,"he said, according to the
Reuters news agency.
RESPONSE OF STOCKHOLDERS!
He was subsequently invited to join Twitter's board of directors, but declined, before making a surprise bid for the firm on April 14th, claiming that he wanted to "unlock" its potential as a stronghold of free expression. The proposal was unanimously authorized by the board, and it will now be put to a vote among shareholders. Twitter attempted to deter him by threatening to dilute the shares of anyone who purchased more than a 15% interest in the company. However, once Mr. Musk provided additional financial facts about his planned bid, the company's position evolved.
