Elon Musk buys Twitter for $ 44 billion
After Twitter said it had reached an agreement to sell the company to Elon Musk for about $ 44 billion, former platform boss and co-founder Jack Dorsey called the billionaire’s takeover of the company “the only solution he trusts.”
The deal was announced by the social media platform on Monday after days of talks between the world’s richest man and the Twitter board.
Musk will pay $ 54.20 in cash per share for the San Francisco-based company, which will now be private after days of intense negotiations between the developer and the platform’s board.
The board said it struck a deal with Musk on Monday and was a 38 percent bonus on the closing price of Twitter on April 1, the day before the world’s richest man made his move for the company, announcing a nine percent stake.
Musk is likely to make some significant changes to the social media platform after making several hints in recent months about his intentions. This comes after Musk Dorsey’s friend stepped down as chief executive and Parag Agraval took office.
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Elon Musk is unusually quiet on Twitter after the $ 44 billion offer was accepted
Tesla’s CEO, usually insatiable shin, has not posted for 20 hours since his “Yes !!!” tweet after his takeover of the company’s social media platform.
Graham Massie April 26, 2022 4:57 p.m.
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Twitter CEO says it’s a “period of uncertainty”
Parag Agraval, who took over from Jack Dorsey as Twitter’s chief executive last year, told employees he did not know which way the company would go after Elon Musk bought it.
“There is indeed uncertainty about what will happen after the deal is completed,” Mr Agraval told officials. “We will find a way to attract Elon for questions and answers … We do not have all the answers. This is a period of uncertainty. “
You can read the whole story here.
Anthony Cutbertson April 26, 2022 11:33
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Dogecoin price rises by 30%
The takeover of Elon Musk on Twitter seems to have had a big impact on the crypto market, especially with dogecoin.
Meme-inspired cryptocurrency, which Musk previously said could be the “currency of the Internet,” jumped more than 30 percent overnight amid speculation that changes to Musk’s Twitter account could prove to be favorable for dogecoin.
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Musk, who once changed his biography on Twitter to “CEO of Dogecoin” and described himself as the “Dodge”, said that the fight against crypto fraud will be a top priority under his ownership.
You can read the whole story here.
Anthony Cutbertson April 26, 2022 10:36
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Human rights groups express concerns about hate speech on Twitter after Musk’s buyout
Human rights groups, including Amnesty International and the American Civil Liberties Union (ACLU), have expressed concerns about the hate speech on Twitter following Elon Musk’s deal to take over the company.
“Regardless of who owns Twitter, the company has responsibilities for human rights to respect the rights of people around the world who rely on the platform. “Changes in its policies, functions and algorithms, large and small, can have disproportionate and sometimes devastating effects, including offline violence,” Deborah Brown, a digital rights researcher, told Reuters.
As Mr Musk called freedom of speech “the foundation of a functioning democracy”, activists expressed concern that new policies could turn a blind eye to violent and offensive speech.
Vishvam Sankaran April 26, 2022 08:05
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Twitter’s CEO admits they “don’t know” what will happen to the Musk-led company
ICYMI: The CEO of Twitter told City Hall officials that the future of the platform is unclear after he agreed to sell it to Elon Musk for $ 44 billion.
Parag Agraval spoke with officials at a town hall meeting just hours after announcing the deal with Tesla’s boss, according to Reuters, who had access to it.
“Once the deal is over, we don’t know in which direction the platform will go,” Mr Agraval said, according to the news agency.
The company told employees that Mr. Musk will hold a session with questions and answers about them at a future date.
Graham Massie April 26, 2022 07:56
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The White House says Biden “has long been concerned about the power of major social media platforms.”
ICYMI: White House spokeswoman Jen Psaki told a news briefing Monday that she “will not comment on a specific transition”, but reiterated that the administration continues to believe that no matter who owns or runs Twitter, the president has long been concerned about power. on major social media platforms “and stressed that” technology platforms must be held accountable for the damage they cause “.
She pointed to the bipartisan interest in the Congress on antitrust measures and the reform of section 230 of the Law on Decency in Communications.
He added: “Our concerns are not new. We have been talking for a long time and the President has been talking for a long time about the powers of social media platforms … to spread misinformation, misinformation [and] the need to hold these platforms accountable. “
Graham Massie April 26, 2022 07:03
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Jamila Jamil left Twitter after Elon Musk bought a $ 44 billion website
ICYMI: Jamila Jamil has announced that she is leaving Twitter after the news that Elon Musk has bought the platform.
The founder of Tesla successfully acquired the social media site on Monday (April 25) for about 44 billion dollars (34.5 billion British pounds). As a result, Twitter will now be a private company.
Nicole Wassel has the story.
Graham Massie April 26, 2022 06:10
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Elizabeth Warren called Musk’s takeover of Twitter “dangerous to our democracy”
After Twitter accepted Tesla boss Elon Musk’s offer to take over the company for $ 44 billion, US Senator Elizabeth Warren said the deal was “dangerous for our democracy.”
“Billionaires like Elon Musk play by a different set of rules than anyone else, gaining strength for their own gain,” Ms. Warren said Tuesday.
She pointed to the need for a wealth tax and “strict rules” to “hold Big Tech accountable.”
Vishvam Sankaran April 26, 2022 06:03
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Trump said he would not return to Twitter, but called Elon Musk a “good man.”
ICYMI: Donald Trump has said he will not return to Twitter after the news that Elon Musk has bought the platform on which the former president was banned.
Mr Trump has said he will not rejoin Twitter, despite buying Tesla’s boss for $ 44 billion, and has instead said he will use his own platform, TRUTH Social.
Graham Massie April 26, 2022 05:04
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Jack Dorsey calls Elon Musk a “unique solution” he trusts
Twitter co-founder and former boss Jack Dorsey says Elon Musk is “the only solution he trusts.”
Sharing fears that Twitter is “owned by Wall Street and the advertising model”, Mr Dorsey said the platform run as a company has always been his “only problem” and “greatest regret”.
“I do not believe that anyone should own or manage Twitter. It wants to be a public good at the protocol level, not a company, “he said.
“However, solving the problem of being a company is the only solution I believe in,” the former Twitter boss added.
Vishvam Sankaran April 26, 2022 4:30 p.m.
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