Monday (April 25) Twitter announced that the social media network agreed to the terms of a purchase offer from Tesla and SpaceX CEO Elon Musk. One of the world’s most influential social networks will now be run by the richest man in the world. The deal is worth an estimated $44 billion and makes the company private.
The process of finally getting the deal done wasn’t an easy one. In a span of less than a month, Musk became one of the company’s largest shareholders and was offered a seat on Twitter’s board (although he turned it down) on top of putting in his bid to purchase the company. Musk’s bid was eventually unanimously approved by the board.
The South African-born entrepreneur isn’t new to Twitter. With over 83 million followers, the 50-year-old is known for posting some very controversial tweets, ranging from spreading deceptive COVID-19 information to insulting specific demographics. Musk has continued to emphasize that his goal is for Twitter to reinforce free speech.
While this may sound enticing to some, there are others who worry that the deal could backfire. Concerns have risen that Musk’s strong push for free speech could destroy the work the platform has done to cut down on hate speech, spreading of misinformation, and other content deemed to be harmful.
Former President Donald Trump had his account deactivated last year for violating Twitter’s policies against inciting violence. Many questioned whether his account and others in the same boat would be reinstated under Musk’s leadership. These are all factors that could heavily influence the upcoming 2024 election.
Twitter users expressed these and numerous other concerns, thoughts, and observations concerning the announcement of Musk’s power move. While some took the deal and analyzed it to the smallest detail, others used it as an opportunity to get their jokes off per usual.
With the deal set to close later this year, there is so much uncertainty surrounding the platform and what’s next for it. How do you feel about Elon Musk buying Twitter? Do you think it’ll change how we all use the app? Be sure to let us know in the comments.