Elon Musk has finally bought a 100% stake in the microblogging site Twitter. This comes just days after the Tesla CEO, who is also the world’s richest person, offered to buy the entire company for $44 billion, or $54.20 per share.
But this isn’t the first time Musk has expressed interest in acquiring Twitter. Shortly after the Musk acquisition became official, an old tweet in which he expressed his interest in buying Twitter went viral on the microblogging website.
Musk seems to have had Twitter on his mind for quite some time. Musk casually tweeted “I love Twitter” on December 21, 2017. One Twitter user, Dave Smith, host and producer of Insider’s The Refresh, suggested that Musk just buy out the entire company, to which Musk replied, “How much It is?”
At the time of writing, the original tweet had over 1.74 million likes and over 35,000 retweets and quote tweets.
Musk raised the possibility of buying Twitter back nearly five years later. Musk asked his Twitter followers a few weeks ago in March if he should start a new social media company. His followers questioned why he would start something new when he could simply buy Twitter. After all, Musk, as the world’s richest person, seemed to have plenty of cash. Musk was taken aback by the suggestion.
This exchange keeps haunting me. pic.twitter.com/W06oSqx0MR
—Dave Smith (@redletterdave) April 25, 2022
He bought a 9.2 percent stake in Twitter, making him the company’s second-largest shareholder. By comparison, Twitter founder and CEO Jack Dorsey owns 2.5% of the company. When Twitter realized something was wrong, he offered Musk a seat on Twitter’s Board of Directors. However, there was a stipulation. A board member is not allowed to take over the company. Musk declined the board seat.
A few days later, he proposed to buy Twitter for almost $44 billion, or $54.20 per share. Musk has publicly stated that he sees enormous potential in the platform and wishes to unlock it by gaining full control of the company.
words are powerful they say#ElonMuskTwitter https://t.co/MQ2AQf4pjI
— Abiodun Dominic Odunuga (ADO) (@abiodunodunuga) April 26, 2022
On Tuesday, Musk affirmed that freedom of expression is the foundation of a functioning democracy and that Twitter is a digital public square where important issues that affect the future of humanity are discussed. He went on to say that he wanted to make Twitter “better than ever” by adding new features, open-sourcing algorithms to increase trust, defeating spam bots, and authenticating all humans.
It comes true https://t.co/sSKo25h4V0
— Truptimaya tripty (@TruptimayaTrip1) April 26, 2022
Why did Elon Musk want to buy Twitter?
Elon Musk has stated that he wants to promote free and open expression on the service, which he sees as an important place for people to share their opinions.
He gave details about some of his plans in a TED interview shortly after announcing his offer.
“Well, I think it’s very important to have an inclusive arena for free speech,” Musk explained. “Twitter has become a de facto public square, so it’s very important that people have both the reality and the perception that they can speak freely within the limits of the law.”
Musk has not said whether he would lift the permanent ban on former President Donald Trump, who was banned from the site after the insurgency on Jan. 6 last year.
Critics of Musk’s plan have raised concerns that it will allow extremist content on the site, which Twitter and other social media companies are working hard to remove. During his TED talk, Musk admitted that content moderation is not a black and white issue.
He said Twitter should be “very cautious about permanent bans,” and that wait times were preferable.
“Well, I think we should be wrong to allow speech to exist when in doubt.” But if there is a gray area, I would say leave the tweet alone,” she said. “However, in a case where there is likely to be a lot of controversy, you’re not necessarily going to promote that tweet.” “I don’t claim to have all the answers.”
He stated once again that their deal was not about making money. “I have a strong intuitive feeling that having a public platform that is highly trusted and broadly inclusive is extremely important to the future of civilization,” she said. “I don’t care about the economy at all.”
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