Twitter was Sold for 44 US Billion Dollars.
Elon Musk bought Twitter for Forty Four US billion Dollars. Twitter is one of the most influential microblogging and social networking platforms used by the world’s leaders, celebrities, and common man to share their opinions on various events. Elon Musk, an entrepreneur, investor, and the founder of Tesla and SpaceX recently bought Twitter to facilitate and promote free speech to Internet users.
He thinks that Democracy can function in the best possible way only if free speech is allowed. He paid Forty-Four billion dollars for this purpose. His goal behind buying Twitter was to facilitate everyone to speak freely. Elon Musk in a tweet stated that his worst critics will remain on twitter because this is what free speech means.
Final Per-Share Price Set on $54.2 by Mr. Musk
Elon Musk started to buy shares of Twitter in early 2022, On 14th April, Elon Musk announced his ₹4150 or $54.20 per-share bid for the company that Twitter accepted and as of now he has accumulated a 9.2% stake in Twitter and became the largest stakeholder in the company.
Elon Musk sent a letter to the chairman of Twitter, Bret Tylor indicating that Twitter now needs to be transformed privately. He showed his intention behind buying Twitter and said, Twitter will adhere to the principles of free speech as it is like the digital town square where matters that are crucial for humanity are debated publicly.
Twitter Policies Expected to be Changed Soon after Elon Musk’s Takeover!
Now you can expect not to get banned from Twitter for posting less violent posts within the bounds of the law. It is believed that Twitter’s policies regarding banning people who violate the Platform’s policies will change so that they can speak freely. Donald Trump, the former U.S. president was banned from Twitter in January 2021 after the attack by his supporters on the U.S. Capitol.
According to the sources and statement of the incoming owner of Twitter, Elon Musk is likely to revoke the ban from Trump’s Account. However, on 25th April 2022, in a press release, Donald Trump clearly said that he would not return to Twitter even if his ban is reversed. He confessed that he was disappointed with the way Twitter behaved and banned him just due to the risk of further incitement of violence during the riot.
The way Elon Musk thinks, a few changes in Twitter can be seen very shortly. Twitter is going to update the policies related to account ban and content moderation. He also suggested that Twitter could make the algorithm other to the public because open-source software is freely available and can be altered.
Most of the tweeter respondents said yes to the tweet of Elon Musk and stated their opinion that the choice of the algorithm should be open to everyone. Musk argued in this regard that disclosing the algorithm of what promotes or downranks tweets would reduce the risk of manipulation.