Elon Musk has finally purchased a 100% stake in Twitter for approximately $44 billion, or $54.
20 per share, in cash.
It's official now. Elon Musk has finally purchased a 100% stake in Twitter for approximately $44 billion, or $54.20 per share, in cash. For some weeks, the microblogging site has been weighing Musk's offer. Musk previously stated that Twitter had "amazing potential," which he wished to realize.
Musk bought a 9.2 percent interest in Twitter earlier this month. This put him as the business's second-largest shareholder, behind Vanguard, which owns 10.3 percent of the company. Later, Twitter CEO Parag Agrawal welcomed Musk as a new member of the company.
Changes Musk is expected to bring
It all started last month when Musk asked users on Twitter if he should launch a new social media platform since Twitter doesn't "adhere to the right to free of speech". To which most users said that he should buy Twitter instead. The Tesla CEO also complained that Twitter suppresses the right to free speech, which is believed to be the first thing he would fix as the owner of Twitter.
In the past several years, the billionaire often questioned Twitter for censoring some voices, including former US President Donald Trump. In fact, there was a time when the platform accused Musk of violating Twitter’s terms and guidelines for tweeting information related to the coronavirus. Since Musk has often talked about Twitter not adhering to “freedom of speech”, one of the first changes could be seen in content moderation.
Musk recently tweeted, "Free speech is essential to a functioning democracy. Do you believe Twitter rigorously adheres to this principle? " Around 70 per cent of the 2 million respondents replied "NO."
Secondly, with Musk becoming the owner of Twitter, we could get the edit button very soon. However, Twitter has already confirmed that it is testing the edit option. Earlier this month, the company said that it would test the edit option with Twitter Blue subscribers first, followed by a stable release. Musk could help with the early release of the edit button for sure.