Elon Musk Buys Twitter (Updated 5/24/22)

Elon+Musk+Buys+Twitter+%28Updated+5%2F24%2F22%29

Jasper Hultgren, Jonah Frey, Staff Writers

Update:

Elon Musk has said that the deal is on hold due to inaccurate counts of spam-bots on Twitter. While Twitter says that the number is only 5% of all the accounts on the platform, he believes that the number may be closer to 25% or more. He has said that he needs to know the amount of bots before he buys it. He has also agreed with an idea of lowering the buy price by the percentage of bots on the platform, although that may just be an intimidation tactic. It is still likely that Elon Musk will buy Twitter, but this is an important interruption to the deal.

 

You may have heard that Elon Musk has purchased Twitter. Why is this deal so important? Well, the company will transition from publicly traded to private.  Here is the scoop. Billionaire Elon Musk claimed Twitter in a $44 billion bid on Monday, April 25th. Elon Musk first placed his deal on April 14th and over the course of a week and a half, Twitter accepted that deal.

Elon Musk claims that the reason he wants to take Twitter private is so that he can improve the platform, as well as attempt to make it a better platform for free speech. He claims that he wants to stop the censoring that some people have claimed Twitter was involved in to allow a better forum for speaking freely. In addition, he says that he will try to impose temporary instead of permanent bans. But some people think that he is buying Twitter so he can make himself look better and expand the power of billionaires. In addition, Elon Musk often uses Twitter as the main platform for expressing himself and making statements about his companies, some of which have been controversial, so there are fears that he will use it to better himself or his own causes on that platform.

What is for certain is that Twitter will soon go private. What a company going private means is that it is no longer traded on the stock market. This will mean that if you try to invest in Twitter, it will not be available to buy. Now, in theory, this will not mean that you cannot buy the stock, but it means that you would have to arrange a deal to buy an interest in the company for a VERY hefty price. While Elon Musk’s acquisition of Twitter has gotten some people worried about the expansion of the power and influence of billionaires, others hope for a platform with freer speech.