Elon Musk strikes deal to buy Twitter for $44bn

[upnorth]

Content source

https://www.bbc.com/news/business-61222470

The board of Twitter has agreed to a $44bn (£34.5bn) takeover offer from the billionaire Elon Musk.

Mr Musk, who made the shock bid less than two weeks ago, said Twitter had "tremendous potential" that he would unlock. He also called for a series of changes from relaxing its content restrictions to eradicating fake accounts. The firm initially rebuffed Mr Musk's bid, but it will now ask shareholders to vote to approve the deal.

Elon Musk strikes deal to buy Twitter for $44bn

Mr Musk, who made the shock bid just over a week ago, said he would "unlock" the social media firm's potential.

www.bbc.com

 

[MuzzMelbourne]

Hahahahaha!

Well, I guess that’s the end of Truth Social ‘cos Elon will welcome Trump back with his 89m followers.

Hahahaha…

 

[CyberDevil]

Theoretically, this purchase does not mean that Musk will be able to control the company fully, the ownership of shares is the right to profit, but not to management.

It also scares me a little bit about Ilon's fascination with absolute freedom of speech if he will control the company completely. In an environment where freedom of speech is not controlled at all and in any way, marketing and PR (money), bots and trolls, loud slogans and beautiful lies win, unfortunately.

However, the censorship that Twitter has been engaged in recent years is no good either.

 

[MuzzMelbourne]

Theoretically, this purchase does not mean that Musk will be able to control the company fully, the ownership of shares is the right to profit, but not to management.

My understanding was that he plans to take the company private again. I haven’t read the terms of the sale, so it may be a moot point, but interesting to find out.

 

[byronbytes]

What's he going to do with it?????? That's the real question.

 

[SeriousHoax]

Hahahahaha!

Well, I guess that’s the end of Truth Social ‘cos Elon will welcome Trump back with his 89m followers.

Hahahaha…

Trump says he won't return to Twitter if his account is reinstated | TechCrunch

Former President Donald Trump said on Monday that he will not be returning to Twitter if his account is reinstated, according to a statement he provided

techcrunch.com

 

[plat]

Elon Musk had better lead a puritan's life if he doesn't want to be outed as a hypocrite in terms of free speech.

Anything "interesting" from his Tesla days can come back to haunt him. Free speech works both ways,, or will it work only one way on Twitter after a while?

 

[JasonUK]

Personally I think it's a good thing that freedom of speech trumps silicon valley censorship.. sooner the rest of them (facebook/youtube etc) follow suit the better.

 

[MuzzMelbourne]

What's he going to do with it?????? That's the real question.

He’ll give it a good kick in the backside, make a big song and dance about free speach and then flog it Mark Zuckerberg for a huge profit and make him pay for it in Dogecoin, just for a few laughs…

 

[MuzzMelbourne]

Trump says he won't return to Twitter if his account is reinstated | TechCrunch

Former President Donald Trump said on Monday that he will not be returning to Twitter if his account is reinstated, according to a statement he provided

techcrunch.com

He had 89 million followers on Twitter and once tweeted 200 times in one day, he has, reportedly, 1 million followers on Truth Social and has posted one ‘truth’ since February when it launched… he won’t be able to resist!

 

[upnorth]

Tesla shares have fallen after investor concerns that boss Elon Musk may have to sell shares in the electric car maker to help pay for the takeover of Twitter.

Tesla had more than $125bn (£99.3bn) wiped off its market value on Tuesday. One analyst said the slump in Tesla's value may pose problems for a $12.5bn loan Mr Musk has secured against his stake in the company. The issues highlight the challenges he faces as he tries to run five firms. Tesla's share price has taken a hammering, with some investors wondering whether Mr Musk's Twitter purchase is bad for Tesla. Shares dropped 12.2% from just over $1tn to $906bn. Some are now asking whether Elon Musk, by trying to buy Twitter, may have bitten off more than he can chew.

Tesla shares slide could put Musk's Twitter takeover at risk

The fall in Tesla's shares highlights the issues Elon Musk faces as he tries to run five companies.

www.bbc.com

 

[enaph]

 

[MuzzMelbourne]

I think Musk is a bit of a freak when it comes to running things and that he can handle Twitter along with everything else.

All of the companies that he runs/owns are leading edge enterprises. Demand for Tesla cars and SpaceX services exist because they are good products, not just because Musk is involved.

Also, someone needs to break the big tech web2 mold and take Twitter to web3 and, therefore, needs to understand crypto/blockchain which he does through Dogecoin. If you want truly free speech then decentralised data is the way to go and he knows this. Though noone other than Elon actually knows, some crypto researchers reckon he owns between 2.5 million and 36 billion Dogecoin and the price of these would rise if Twitter embraces it even if Tesla shares drop.

Who knows? Its all speculation, but I wouldn’t put it past the sneaky little guy to pull it off…

 

[silversurfer]

Brussels has warned Elon Musk that Twitter must comply with the EU’s new digital rules under his ownership or risk hefty fines or even a ban, setting the stage for a global regulatory battle over the future of the social media platform.

Thierry Breton, the EU’s commissioner for the internal market, told the Financial Times that Elon Musk must follow rules on moderating illegal and harmful content online after Twitter accepted the billionaire’s $44 billion takeover offer. Breton said: “We welcome everyone. We are open but on our conditions. At least we know what to tell him: ‘Elon, there are rules. You are welcome but these are our rules. It’s not your rules which will apply here.’”

EU warns Elon Musk over Twitter moderation plans

EU Commissioner Thierry Breton tells Tesla chief executive: "Elon, there are rules."

arstechnica.com

 

[ForgottenSeer 69673]

When I first say the headline about Musk buying Coka Cola next, first thing was putting cocaine back in the mix, like our grandparents drank and sure enough

MSN

www.msn.com

 

[MuzzMelbourne]

When I first say the headline about Musk buying Coka Cola next, first thing was putting cocaine back in the mix, like our grandparents drank and sure enough

MSN

www.msn.com

Because cocaine is illegal, it can only be assumed that Musk does not intend to put the drug into Coca-Cola, nor would he be allowed to.

O.M.G…

 

[Templarware]

What's he going to do with it?????? That's the real question.

And what does anyone do with it? It's a cancerous, useless social network for bad behaved teens.

 

[plat]

It is what it is, and now it belongs to Mr. Musk. He is potentially capable of great things because he has so much loot. Look at SpaceX. Many have been pleading for him to buy various small countries in order to save them from calamities.

It has further been suggested that he now purchase the entire McDonalds chain in order to repair the perpetually broken ice cream machines.

His response:



No intentions of giving up Twitter whatsoever.

 

[OhioRebel]

What's he going to do with it?????? That's the real question.

Promote free speech!!!

 

[blackice]

Promote free speech!!!

Free speech protections extend to the extent that the statement do no harm to others. People literally ingested poisons based on the tweets of recently banned individuals.