Highlights:
• Twitter went on the hands of Elon Musk.
• Twitter will be made a free speech platform along with other changes.
The world’s richest man Elon Musk has takeover one of the biggest social media platform, Twitter in $44 billion.
How Elon brought the whole company under him
Elon musk started buying the shares of twitter from January 2022. By march 14, Elonmusk had owned over 5 per cent take in the company.Elon musk began critising twitter for falling to adhere to free speech, tweeter algorithm should be open source, on march 24. Onmarch 26, Musk twitted “new platform needed?”
On April 4 Elon Musk confirmed 9.2 per cent share of twitter worth $2.9 billion. On April 5 CEO of Twitter, ParagAgrawal announced that Elon musk was appointed as a member of Board of Director but Musk denied.
On April 14, Elon Musk said that he was willing to buy the Twitter completely and he will pay $54.20 per share in an all cash offer.
To save the Twitter, it adopted a ‘ poison-pill provision’ on April 15, so that Musk could not able to buy more shares.At last on April 25 Elon Musk and Twitter seal the $44 billion deal. It is one of biggest
buyout offers of recent times.
Changes in twitter
Musk will transform Twitter to private company. He will turn the Twitter to an open source model which he thinks will bring transparency into the company, allowing users to examine its code and see why certain posts are prioritised in user’s feeds. Musk would try to root out bots and crypto “scams” on twitter. One of the Musk’s main aims about Twitter is its content moderation policies, which according to
him are too stringent. He believes that Twitter have a potential to be a platform for free speech globally.
