Elon Musk just bought Twitter. What now? 2022-04-27 12:24:28

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Elon Musk finally took over Twitter after a A weeks-long epic During which he initially became the largest shareholder in the company, and then immediately offered to buy it.

richest person in the world got a deal On Monday, it agreed to buy the social network for $54.20 a share — valuing the company at nearly $44 billion.

What comes next on Twitter is anyone’s guess. Over the past few weeks, Musk has hinted at changes he’d like the platform to see, but stopped short of laying out a roadmap for the direction he wants Twitter to take.

at statment Fired after the deal was reached, Musk described Twitter as a “digital city arena where matters vital to humanity’s future are discussed” and said he looked forward to tapping into the company’s “enormous potential.”

Here’s what to know about Musk’s plans on Twitter.

Twitter could potentially become private

Musk said that part of the reason he wanted Twitter was that, in his opinion, changes that needed to be made to the platform could only be made if it was a private company.

It’s a sentiment that Musk shares with Jack Dorsey, co-founder and former CEO of Twitter chirp On Monday, the company was “owned by Wall Street and the advertising model.” Going private, Dorsey said, “is the right first step.”

Although Twitter’s board of directors unanimously approved the sale, the deal still needs shareholder approval and is subject to regulatory review. CEO Parag Agrawal said he expects the deal to go through The next three to six months.

Eleanor Bloxham, CEO of corporate consultancy The Value Alliance, told CNBC Make It: “Contributors will have to consider whether or not they think this is the best deal they can get with Twitter, or whether they can do better without Musk.” .

If they accept Musk’s buyout offer, they will be able to sell their shares for $54.20 per share. Shareholders can also hold onto them until the day the company becomes private, at which point they will be spent at the current trading price.

Musk wants big changes

Musk coined his pursuit of Twitter as necessary to preserve “freedom of expression.” Although he hasn’t specifically said what he wants to change, he has criticized Twitter in the past, Which indicates that the platform stifles freedom of expression and engages incensorship. ”

Over the past few weeks, he has indicated that he will relax Twitter’s content moderation policies and roll back efforts to rid the platform of bad actors who violate the service’s guidelines. Musk also said he hopes his ownership of Twitter will not lead to anyone leaving.

“I hope even my biggest critic remains on Twitter,” Tweeted Monday. “Because that’s what freedom of expression means.”

But content editing isn’t Musk’s only area of ​​interest. Here’s what he also said he wants to change on Twitter.

  • I have called for add edit buttonwhich Twitter says is currently in the works.
  • Users who subscribe to Twitter Blue want to be able to Pay with your favorite cryptocurrency: Dogecoin.
  • He says Twitter should make its algorithm – which determines which posts are shown to which users – open source in order to “Increase confidenceOn the platform.
  • He says Twitter should eradicate the spam bots that have plagued his platform.or die tryingand you’ll “befriend all real humans” with a verification badge of some sort.

No layoffs, right now

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