Elon Musk Officially Closes Twitter Deal For $44 Billion

  • lekmin
  • Oct 28, 2022
Elon Musk closed Twitter deal

Back in April 2022, Elon Musk was ready to buy Twitter after making an extremely tempting cash offer that the social media company couldn’t refuse. Now, just a few months after Musk’s original Twitter buyout proposal, what every Elon Musk fan has been waiting for has finally happened. Elon Musk has officially closed his ownership deal with Twitter for a truly agreed historic $44 billion, giving popular social media platform Blue Bird a whole new nest to rest its wings.

Elon Musk closed Twitter dealIn the midst of his property deal on Twitter, just a few hours before it was made official and permanently closed, Mr. Musk decided to share a viral video of him entering Twitter headquarters in San Francisco, California while carrying an actual kitchen sink into the building while ironically announcing “Let it sink in!”.

Musk’s biography on Twitter It has also been updated accordingly, as it now reflects his new purchase of the social media platform, now calling himself “Chief Twit”.

However, it’s important to remember that Musk’s multi-billion dollar purchase of Twitter’s ownership, which was officially announced Thursday (October 27, 2022), only closed after what turned out to be a bitter takeover, after a bit of a takeover. Months of drama and legal challenges which occurred before the deal actually closed, as Mr. Musk first changed his mind about the original deal he had with the company, Twitter, Inc. , after declaring that the deal he originally signed “no longer serves his personal interests.”

Mr. Musk, who has described himself as a “freedom absolute,” has stated several times that he essentially wants the social media platform to be a more free place for all kinds of comments. Musk also stated that he would look to “permanently unblock” former President Donald J. Trump from the social media service if his deal on Twitter’s ownership goes through.

In celebration of his official ownership of the social media service in terms of the great importance and lofty values ​​of freedom of expression, Musk posted a simple tweet who cleverly announced to the world that his deal with the company had finally been closed, simply saying: “The bird is released”.

Now, when it comes to the highly sensitive topic of freedom of expression, the notorious Tesla CEO and founder and CEO of SpaceX has stated that he hopes to acquire his newly acquired social media platform. “It will remain a digital city square for years to come.”

Shortly after his Twitter acquisition was officially announced, Musk explained his reasons for his $44 billion purchase, saying simply: “There is currently a significant risk that social media will split into the far right and far left echo chambers that generate more hatred and division in our society.”

Then Musk added to his statement, cleverly noting it “In the relentless pursuit of clicks, a lot of traditional media have fed and nurtured those polarizing extremist cases, because they think that’s what brings in the money, but in doing so, the opportunity for dialogue is missed.”

After highlighting the negative impact of political differences on social media platforms, Musk concluded sharing his thoughts on the topic by saying “That’s why I bought Twitter. I didn’t do it because it would be easy. I didn’t do it to make more money. I did it to try to help humanity, which I love. And I do it humbly, realizing that failure to pursue that goal, despite our best efforts, It’s a very real possibility.”

The main problem Twitter users are likely to face is that Mr. Musk’s open approach to freedom of expression on Twitter may eventually lead to long raging issues of toxic content and disinformation, which can severely influence political discussions around the world.

Regardless, Musk’s ideology of free speech on the podium will soon be put into action within the next few weeks, as Brazil will soon elect its new president, all while American voters also look to go to the polls on November 8 for the US midterm elections. .

While Twitter, Inc. It had originally stated that it would ban misleading claims about voting as well as about election results, that was before Mr. Musk owned it.

David Kaye, a law professor at the University of California, Irvine who has worked with the United Nations on free speech issues recently commented on Mr. Musk’s reasons for his Twitter ownership deal, noting that “There could be real-world consequences to his leadership. To the extent that world leaders see that they have this space and that it is unsupervised, they can push to see how far they can go.”

With Musk’s Twitter ownership deal finally closing, there’s been a lot of talk lately about what Musk plans to change within the social media platform now that he’s in charge.

While this deal all started with Musk’s concern about severely restricting free speech on the platform — with all recent indications that he would relax free speech rules at a level as reasonable as what is acceptable for Twitter — the new owner of Twitter has not entered the company without causing serious indignation. among current employees.

according to A recent article by the Washington PostMusk originally told potential investors in his deal to buy the company that he planned to get rid of roughly 75% of Twitter’s 7,500 workers. This equates to roughly 5,600 employees, which would eventually leave the company with a minimum staff of just over 2,000 workers, potentially leaving the social media company inoperable.

So, maybe it was just a promotion from Musk to his investors, as he did now An advertisement for Twitter employees He does not actually plan to cut 75% of the company’s workforce.

While we can only wait to see how the situation unfolds, the truth is that Musk is now calling the shots.

With all that said, it’s safe to say that Twitter users and Twitter employees all should expect some major changes to happen, with one of the main concerns being whether or not Twitter will still be free to use.

Elon Musk closed Twitter dealNow that Mr. Musk has the company’s future in his hands, it’s clear he has to find a way to generate a significant amount of revenue in order to make his purchase of Twitter worth every penny, and also to please his co-financiers, path. If anything is for sure, it is only the fact that relying solely on a business plan that focuses solely on Tweet promotional ad purchases will certainly not be enough.