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Elon Musk buys Twitter for $44bn

After Twitter stated it has reached an settlement to promote the corporate to Elon Musk for round $44bn, the platform’s former chief and co-founder Jack Dorsey has known as the billionaire’s takeover of the corporate the “singular resolution” he trusts.

The deal was introduced by the social media platform on Monday after days of negotiations between the world’s richest particular person and the Twitter board.

Musk pays $54.20 money per share for the San Francisco-based firm, which is able to now be taken non-public after days of intense negotiations between the entrepreneur and the platform’s board.

The board introduced it had reached a take care of Musk on Monday, and that it represented a 38 per cent premium from Twitter’s closing value on 1 April, the day earlier than the world’s richest particular person made his transfer for the corporate by asserting his 9 per cent stake.

Musk will probably make some important modifications to the social media platform, having made a number of hints in latest months about what his intentions are. It comes after Musk’s good friend Dorsey stepped down as CEO and Parag Agrawal took over.

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Twitter says mass account deactivations after Musk takeover was ‘natural’

Following the announcement that Tesla chief Elon Musk would purchase out Twitter, a number of high-profile accounts together with that of former president Barack Obama, and singers Katy Perry and Taylor Swift noticed a drop in followers by tons of of 1000’s.

The social media firm has now confirmed that these account closures have been largely “natural” and never from the automated deactivation of bots and faux accounts.

“Whereas we proceed to take motion on accounts that violate our spam coverage which may have an effect on follower counts, these fluctuations seem to largely be a results of a rise in new account creation and deactivation,” Twitter stated in an announcement.

Vishwam Sankaran27 April 2022 04:29

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Might ElonJet be shut down?

One particular person frightened of what a Musk-ruled Twitter will appear like is Jack Sweeney, the teenage coder behind the Twitter bot @ElonJet, an account that tracks the actions of the Tesla titan’s non-public jet escapades.

Talking to Insider following Monday’s announcement of the San Francisco-based platform’s sale to Mr Musk, the Florida native and college freshman informed the outlet that he was not sure if the SpaceX founder will enable him to maintain the bot account alive.

“​​It’s arduous to assume that he wouldn’t do one thing,” Mr Sweeney informed Insider.

Mr Sweeney’s considerations are probably merited, notably within the gentle of what occurred final fall between the teenager and the brand new Twitter proprietor.

In November 2021, Mr Musk reportedly reached out to Mr Sweeney and supplied the coder $5,000 to close down the jet monitoring account, arguing that there have been safety considerations with the knowledge being shared publicly.

Graeme Massie27 April 2022 04:15

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Elon Musk’s Twitter deal raises considerations over concentrated wealth and energy on-line

ICYMI: A deal for the world’s wealthiest particular person to buy social media firm Twitter for $44bn has raised alarms over the focus of billionaire energy throughout social media platforms and the way they are going to be used to form each public coverage and the financial pursuits of the folks operating them.

Elon Musk’s huge buy has additionally revived calls from members of Congress and different critics to demand that US billionaires pay greater taxes, whereas questioning Mr Musk’s public and self pursuits in spending that a lot cash to manage the platform.

Alex Woodward has all the main points.

Graeme Massie27 April 2022 03:04

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Some Republicans concern a Trump return to an Elon Musk-owned Twitter, experiences say

ICYMI: Whereas some Republicans took to publicly cheering Elon Musk’s $44bn buy of Twitter as a significant victory at no cost speech, there have been some who considered it with trepidation, based on experiences.

For a sequence of prime GOP insiders informed Politico Playbook of their grave considerations in regards to the new Musk-led Twitter turning into a haven to welcome again beforehand banned accounts, particularly Donald Trump.

Johanna Chisholm has the story.

Graeme Massie27 April 2022 02:05

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Who owned Twitter earlier than Elon Musk?

When Elon Musk lastly closes his $44bn deal for Twitter this 12 months he’ll joint ranks of media moguls, that embrace his rival for title of world’s richest particular person, Amazon’s Jeff Bezos.

The Twitter board lastly accepted the Tesla boss’s $54.20 per share money supply for the platform on Monday after intense negotiations, each private and non-private, and it now needs to be ratified by its shareholders.

Graeme Massie27 April 2022 01:02

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What occurs to my Twitter inventory?

Elon Musk has been given the inexperienced gentle to take over Twitter after the corporate’s board accepted his money bid that will worth it at round $44bn.

Twitter nonetheless stays a publicly-traded firm on the New York Inventory Change and can stay so till the platform is “delisted.”

Graeme Massie27 April 2022 00:35

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Susan Collins says that Trump ought to get his Twitter again

Republican Senator Susan Collins of Maine informed Huffpost that former president Donald Trump needs to be allowed to have his Twitter account again.

The remarks come as Tesla magnate Elon Musk introduced that he would purchase the platform. Many conservatives have expressed hope the sale would imply that the previous president would return to the social media platform.

Graeme Massie27 April 2022 00:03

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Elon Musk’s ‘X Holdings’ to finish Twitter buy by 24 October

A brand new SEC submitting by Twitter reveals that the corporate will merge with two of Mr Musk’s ‘X Holdings’ firms later this 12 months after the corporate agreed to promote itself for $44bn.

Graeme Massie26 April 2022 23:06

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Tesla boss slams critics who ‘concern free speech’ after $44bn Twitter bid accepted

Elon Musk has slammed these critics who ‘concern free speech’ after having his $44bn Twitter bid accepted by the social media firm.

The Tesla CEO took to Twitter after staying off the platform for nearly 24 hours within the wake of his takeover of the corporate being introduced on Monday.

“The acute antibody response from those that concern free speech says all of it,” he tweeted.

Graeme Massie26 April 2022 20:41

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Will Donald Trump come again?

When requested if former US president Donald Trump could be allowed again on Twitter following Elon Musk’s deal to purchase the platform, the corporate’s chief govt Parag Agrawal stated the query needs to be directed to the billionaire himself.

“Twitter has a function and relevance that impacts your entire world. Deeply pleased with our groups and impressed by the work that has by no means been extra essential,” Mr Agrawal stated.

Talking at a company-wide assembly following the announcement, Mr Agrawal informed Twitter workers that the way forward for the social media agency is unsure after the take care of the Tesla chief closes, based on Reuters.

On the assembly, he was reportedly requested whether or not Mr Trump – who was banned from Twitter final 12 months within the aftermath of the 6 January 2021 Capitol riots – could be allowed to return.

“As soon as the deal closes, we don’t know which course the platform will go. It’s a query we should always handle with him [Musk],” Mr Agrawal replied.

Adam Smith26 April 2022 19:30


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