US Reporter

Elon Musk now Owns Twitter after a $44 Billion Deal

Elon Musk now holds Twitter. After months of speculation, the Tesla CEO finally bought the social media site in a $44 billion deal.

Musk fired Twitter CEO Parag Agrawal and other company executives following the acquisition. Musk attempted to back out of the agreement after declaring his intention to buy the company in April. However, a whistleblower discovered that Twitter is overrun with bots. Musk was forced to rethink his original purchase plan as a result. His plan did not work out as he had hoped, but he now controls one of the world’s most powerful social media platforms.

“This is not a way to make money. My strong intuitive sense is that having a public platform that is maximally trusted and broadly inclusive is extremely important to the future of civilization,” Musk said a few months ago.

A trial was about to start if Musk had not purchased the business. Fortunately, the acquisition agreement spared Musk and Twitter from going to court. However, experts have several concerns about how the new CEO will run the business after Musk fired executives from Twitter. Musk, however, asserts that he already has plans for the business. In addition, he placed more emphasis on free speech and fewer restrictions.

For instance, Musk wants to eliminate Twitter’s rule and permanently ban any accounts that do so. Unfortunately, this causes previously banned accounts to reappear. The Tesla CEO also plans to crack down on bots by allowing a system that only allows one account per person.

Read Also: Thai Mogul and Transgender Advocate Obtains Miss Universe Franchise for $20 Million

Musk makes changes

Elon first made his intentions to purchase Twitter known to the general public in connection with his plans to eradicate bots. The users well received the idea.

“Elon, the next step is the bots. Please. We are begging you,” a user said.

“All user accounts need a verified human behind it, can be anonymous to the public, but required and verified by twitter behind the curtain. Rid this world of Bots and trolls!” another user tweeted.

“I am looking forward to tweeting and not having 50 bot replies within the first 10 seconds,” added another.

Read Also: The Pandemic is Almost Over, but the Omicron is Not

The reason to buy

Musk addressed advertisers in a tweet, saying:

“I wanted to reach out personally to share my motivation in acquiring Twitter. There has been much speculation about why I bought Twitter and what I think about advertising. Most of it has been wrong.”

“The reason I acquired Twitter is that it is important to the future of civilization to have a common digital town square where a wide range of beliefs can be debated in a healthy manner without resorting to violence. There is currently great danger that social media will splinter into far right wing and far left-wing echo chambers that generate more hat and divide our society.”

“In the relentless pursuit of clicks, much of traditional media has fueled and catered to those polarized extremes, as they believe that is what brings in the money, but, in doing so, the opportunity for dialogue is lost.”

“That is why I bought Twitter. I didn’t do it because it would be easy. And I didn’t do it to make more money. I did it to try to help humanity, whom I love. And I do so with humility, recognizing that failure in pursuing this goal, despite our best efforts, is a very real responsibility.”

Photo Credit: Patrick Pleul/Twitter

Source: CNN

Opinions expressed by US Reporter contributors are their own.