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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Twitter says mass account deactivations after Musk takeover were “organic”
Following the announcement that Tesla boss Elon Musk will buy Twitter, several popular accounts, including that of former President Barack Obama, and singers Katy Perry and Taylor Swift saw a drop in followers by hundreds of thousands.
The social media company has already confirmed that these account closures were largely “organic” rather than automated deactivation of bots and fake accounts.
“As we continue to take action against accounts that violate our spam policy, which can affect the number of followers, these fluctuations appear to be largely the result of increased creation and deactivation of new accounts,” a Twitter statement said. .
Vishvam Sankaran April 27, 2022 04:29
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Can ElonJet be stopped?
One person who fears what Musk-powered Twitter will look like is Jack Sweeney, the teen coder behind the Twitter bot @ElonJet, an account that tracks the movements of Titan’s private jet, Tesla.
Speaking to Insider after Monday’s announcement of the sale of the San Francisco-based platform to Mr. Musk, the Florida-born and university student told the publication that he was unsure whether the founder of SpaceX would allow him to keep the bot account alive.
“It’s hard to think he wouldn’t do something,” Mr Sweeney told Insider.
Mr Sweeney’s worries are probably justified, especially in light of what happened last autumn between the teenager and the new owner of Twitter.
In November 2021, Mr. Musk reportedly contacted Mr. Sweeney and offered the coder $ 5,000 to close the aircraft tracking account, arguing that there were security concerns with the information being shared. publicly.
Graham Massie April 27, 2022 04:15
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Elon Musk’s Twitter deal raises concerns about concentrated wealth and power online
ICYMI: A $ 44 billion deal for the world’s richest man to buy social media Twitter has raised concerns about the concentration of billionaire power on social media platforms and how they will be used to shape both public policy and economic interests. the people who run them.
The massive purchase of Elon Musk has also revived calls from members of Congress and other critics to demand that American billionaires pay higher taxes, while calling into question Mr Musk’s public and personal interests in spending so much money on control of the platform.
Alex Woodward has all the details.
Graham Massie April 27, 2022 03:04
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Some Republicans fear Trump’s return to Twitter, owned by Elon Musk, reports say
ICYMI: While some Republicans have come to publicly applaud Elon Musk’s $ 44 billion Twitter purchase as a major victory for free speech, there are reports that some have looked at it with awe.
For a series of top GOP representatives, they told Politico Playbook about their serious concerns that the new Musk-led Twitter will become a haven for the return of already banned accounts, namely Donald Trump.
Joanna Chisholm has the story.
Graham Massie April 27, 2022 02:05
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Who owned Twitter before Elon Musk?
When Elon Musk finally completes his $ 44 billion Twitter deal this year, he will unite the ranks of media moguls, including his rival for the title of richest man in the world, Amazon’s Jeff Bezos.
The Twitter board finally accepted Tesla’s boss’s $ 54.20 cash offer for the platform on Monday after intense talks, both public and private, and now needs to be ratified by its shareholders.
Graham Massie April 27, 2022 01:02
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What happens to my shares on Twitter?
Elon Musk received the green light to take over Twitter after the company’s board accepted his monetary offer, which would have estimated it at about $ 44 billion.
Twitter still remains a publicly traded company on the New York Stock Exchange and will remain so until the platform is “deleted”.
Graham Massie April 27, 2022 00:35
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Susan Collins says Trump needs to get his Twitter back
Republican Sen. Susan Collins of Maine told the Huffpost that former President Donald Trump should be allowed to return his Twitter account.
The remarks came when Tesla mogul Elon Musk announced he would buy the platform. Many conservatives have expressed hope that the sale will mean the former president will return to the social media platform.
Graham Massie April 27, 2022 00:03
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Elon Musk’s “X Holdings” will complete the purchase on Twitter by October 24
A new SEC submission from Twitter reveals that the company will merge with two of Mr Musk’s companies, X Holdings, later this year after the company agreed to sell for $ 44 billion.
Graham Massie April 26, 2022 11:06 p.m.
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Tesla chief criticizes critics who “fear freedom of speech” after accepting $ 44 billion offer on Twitter
Elon Musk has criticized those critics who “fear freedom of speech” after his $ 44 billion offer on Twitter was accepted by the social media company.
Tesla’s CEO took to Twitter after staying off the platform for almost 24 hours after announcing his takeover of the company on Monday.
“The extreme reaction of antibodies from those who fear freedom of speech says it all,” he tweeted.
Graham Massie April 26, 2022 8:41 p.m.
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Will Donald Trump return?
Asked whether former US President Donald Trump would be allowed back on Twitter after Elon Musk’s deal to buy the platform, the company’s chief executive, Parag Agraval, said the issue should be addressed to the billionaire himself.
“Twitter has a purpose and relevance that affects the whole world. We are deeply proud of our teams and inspired by the work that has never been more important, “said Mr Agraval.
Speaking at a company-wide meeting after the announcement, Mr Agraval told Twitter staff that the future of the social media company was uncertain after the deal with Tesla’s boss was concluded, according to Reuters.
During the meeting, he was reportedly asked if Mr Trump, who was banned by Twitter last year after the Capitol riots on January 6, 2021, would be allowed to return.
“Once the deal is done, we do not know in which direction the platform will go. This is an issue we need to address with him [Musk]”, Replied Mr. Agraval.
Adam Smith April 26, 2022 7:30 p.m.
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