• Latest
  • Trending
  • All

Elon Musk Buys Twitter For 44 Billion Dollars

August 22, 2022
Nanuqsaurus art

NANUQSAURUS Explained

January 30, 2023
Pelican

Pelican Has 70 Percent Survival Rate in Santa Barbara

December 19, 2022
1 in 10 species could be lost

Study Warns 1 in 10 Species Could Be Lost by End of 21st Century

December 19, 2022
new type of dolphin

The New Type of Dolphin That Has Evolved in the Pacific Ocean

December 19, 2022
Metaverse headset

Metaverse Headset Alternatives

December 5, 2022
AI powered insect trap

AI Insect Powered Trap and Billion Dollar Pest Problem

November 27, 2022
Medium membership

Medium Writing Platform 2022 Review

November 24, 2022
Boxabl

5 Reasons Boxabl is Better Than Prefab Homes

November 24, 2022
milky way sky

Milky Way Actual Twin Found?

November 21, 2022
supernova in space

Supernova Allows Us to Understand Origin of Elements in the Universe

November 13, 2022
couple of mice

Mutation Discovery That Increases Lifetime in Mice

November 13, 2022
energy plasma ball archimedes waveswing

Archimedes Waveswing Wave Energy Converter

November 13, 2022
Tuesday, January 31, 2023
42 °f
Us
44 ° Wed
46 ° Thu
48 ° Fri
48 ° Sat
AWDAILY
  • science
    • All
    • astronomy
    • biology
    • environment
    • technology
    • wildlife
    Nanuqsaurus art

    NANUQSAURUS Explained

    Pelican

    Pelican Has 70 Percent Survival Rate in Santa Barbara

    1 in 10 species could be lost

    Study Warns 1 in 10 Species Could Be Lost by End of 21st Century

    new type of dolphin

    The New Type of Dolphin That Has Evolved in the Pacific Ocean

    Metaverse headset

    Metaverse Headset Alternatives

    AI powered insect trap

    AI Insect Powered Trap and Billion Dollar Pest Problem

    milky way sky

    Milky Way Actual Twin Found?

    supernova in space

    Supernova Allows Us to Understand Origin of Elements in the Universe

    couple of mice

    Mutation Discovery That Increases Lifetime in Mice

  • business
    • All
    • cryptocurrency
    • economy
    Medium membership

    Medium Writing Platform 2022 Review

    Boxabl

    5 Reasons Boxabl is Better Than Prefab Homes

    manufacturing

    Will Automation Help Manufacturing Grow in the US?

    man sitting facing monitor

    Is Remote Work Employment Here to Stay?

    white airplane near trailers during sunset

    Tourism Bad in 2022 Due to Pilot Shortage

    Manufactured and Tiny Homes to Be Allowed Now

    Manufactured and Tiny Homes to Be Allowed Now

    Gas Prices Continue to Rise in US

    Gas Prices Continue to Rise in US

    Seven Most Affordable Places in the World in 2022

    Seven Most Affordable Places in the World in 2022

    Food Prices in US Begin to Rise in 2022

    Food Prices in US Begin to Rise in 2022

    Will Worldwide Food Prices Soar in 2022

    Will Worldwide Food Prices Soar in 2022

  • wildlife
    Nanuqsaurus art

    NANUQSAURUS Explained

    Pelican

    Pelican Has 70 Percent Survival Rate in Santa Barbara

    1 in 10 species could be lost

    Study Warns 1 in 10 Species Could Be Lost by End of 21st Century

    new type of dolphin

    The New Type of Dolphin That Has Evolved in the Pacific Ocean

    AI powered insect trap

    AI Insect Powered Trap and Billion Dollar Pest Problem

    moth larvae

    Moth Larvae Could Be the Answer to Plastic Problems

    wolf standing on rolled hays

    Wildlife is Recovering in Europe After Decades of Conservation

    brown fox lying on black rock

    How Did Ancient Humans Domesticate Foxes?

    black ant on black wire

    There Are Over 2 Million Ants For Every Human Across the Planet

    yellow and white fish in water

    Dangerous Algal Bloom Deplete Fish in California

    Trending Tags

    • spotted lantern fly
  • Carbon Calculator
    • Coastal Risk Screening Tool
  • solar calculator
No Result
View All Result
AWDAILY
No Result
View All Result
  • environment
  • science
  • wildlife
  • astronomy
  • technology
  • business
  • economy
  • biology
  • news
  • cryptocurrency
  • solar calculator
  • Coastal Risk Screening Tool
  • Carbon Calculator
Home business

Elon Musk Buys Twitter For 44 Billion Dollars

August 22, 2022
in business
Reading Time: 8 mins read
0 0
A A
0
0
SHARES
2
VIEWS
Share on TwitterShare on Facebook

Elon Musk buys Twitter and looks to change the landscape of social media

Elon Musk Buys Twitter For 44 Billion Dollars
Elon Musk

After announcing his intention to buy Twitter, Elon Musk has been on the lookout for an opportunity to take over the company. In fact, the company put in place a defense’ against a hostile takeover. But this didn’t stop Musk from announcing his funding. After meeting with Twitter shareholders privately and delivering video calls to all of them, Musk had begun negotiations with the company.

Elon Musk

SpaceX and Tesla CEO Elon Musk has bought Twitter for 44 billion dollars. He uses the platform to share his ideas, rival critics, and announce business deals to his 83 million followers. The billionaire has been under SEC scrutiny and is now trying to get out of the settlement agreement he signed with the agency. Musk has a long list of plans for the social media platform, including eliminating automated “spam bots” and making its algorithms more transparent.

Regardless of how the deal plays out, it is clear that Twitter will be changed significantly as a result of the deal. The company will face intense competition in the form of Snap, TikTok, and ByteDance.

Snippet Video

The acquisition of Twitter may raise antitrust concerns. Those in power tend to intervene when a company acquires a competitor, and sometimes challenges a deal if it benefits the purchaser. However, the Twitter purchase does not appear to pose a threat to the two biggest companies in the social media space. Musk has not tied Tesla or SpaceX to twitter yet.

Since Elon Musk has a massive following on Twitter, the potential for a major overhaul of the service is considerable. In Turkey, there is also pressure on Twitter to remove content that violates the country’s laws. Twitter has been blocked in certain areas of the world. But, lets see if this new acquisition may loosen that isolation.

Twitter

Elon Musk has finally gotten the opportunity to buy a social media company. He announced the deal on Thursday in a filing with the Securities and Exchange Commission. In it, Musk revealed that he has secured debt financing and equity commitments totaling $25.5 billion, which is more than double the current value of Twitter shares. The deal is expected to close in the first quarter of fiscal year 2022, and Musk said he plans to release first quarter financial results before the market opens.

He will not hold a corresponding conference call.

While it’s a good deal for Musk, there are some negatives. Some conservatives have complained that mainstream tech companies censor their users – including Musk’s own. Twitter says that it doesn’t censor people and does not enforce ideology or views.

The deal could prove problematic for the company’s employees. Because disclosure seemed to be an issue before it closed. Making some of the current employees skeptical. They fear that Musk could undo years of work. While some are excited about the deal, others may balk at a significant change in direction. If Musk’s plans go through, Twitter will likely undergo significant changes to its user experience. It could become a more competitive place but it’s hard to know what that change will entail.

One mention is of Dogecoin being a way to support members. Which would make it the first combined major social media platform to use crypto of this magnitude.

Despite the many negatives, the deal signals the end of a long courtship.

Elon Musk has been a frequent critic of Twitter, including in the context of his censorship of speech. He also has used the social network in ways that were deemed controversial. Many critics worry that his takeover could stifle the voices of others on Twitter. Others believe this is a step in the right direction considering the level of heat the platform has gotten over the last few years.

Elon Musk’s plan to transform the company

Twitter
Photo by Joshua Hoehne on Unsplash

One thing is certain, Elon Musk isn’t interested in making Twitter more like Facebook. One of his ideas is to turn the site into a subscription service is not without its risks. The social media site has struggled to keep up with its rivals, with only a small share of the digital advertising market in the US. Although some analysts think that Musk is playing on Twitter’s power users, he’s hardly likely to make changes that are too radical.

Instead, he may be interested in controlling how messages are spread.

Many progressives have called for the breakup of tech giants, and Musk’s plan to buy Twitter may be a game changer. However, with recent studies suggesting half of twitters members aren’t real will this be enough to make it popular again?

Musk has expressed concern about the biased algorithms that power Twitter. To combat this, he’s polled his Twitter followers to see if they would be okay with an open source algorithm. Apparently, 83% of them would support this move. Meaning a public algorithm would allow Twitter users to make their own decisions about what appears on their feed. The CEO of Tesla and SpaceX, Elon Musk, recently spoke out against Twitter’s policies on free speech.

Elon Musk’s role at Twitter

The Tesla CEO is the largest individual shareholder in Twitter and a self-described free speech absolutist. Musk has pledged to not buy more than 14.9% of the company’s shares. Twitter, however, was still in the process of deciding whether to appoint Musk to its board. That was until his buy out of 44 billion dollars today.

Musk has publicly expressed his desire to ban crypto spam bots from the platform. Many of these bots are involved in promoting crypto-based scams and use Musk’s likeness to do so. He has publicly pleaded Twitter to fix this problem now that he has a significant stake in the company. He has also advocated for the introduction of an edit button to help people make changes to their posts.

While there are a lot of reasons to support Musk’s decision to become a board member of the company, there are also some concerns that his decision will damage the company’s reputation as a platform. Many progressive social media users are worried that Musk’s presence could lead to the downfall of the site. However, there aren’t many failures under Elon’s belt and this could prove to be a look into the future of how much better social media can be.

Elon Musk’s financial backing

Tesla CEO Elon Musk had lined up over $46.5 billion in funding for his takeover bid of Twitter. In a filing to the US Securities and Exchange Commission, Elon Musk detailed the financing arrangements for the proposed takeover. The move is expected to boost Twitter’s stock price and put the electric vehicle maker in the position to make big changes to the company.

As of last week, Musk had secured commitments to invest $46.5 billion to finance the takeover. He has already secured $25.5 billion in debt financing and another $21 billion in equity funding. At the time he was undecided on whether to make a tender offer to Twitter’s shareholders or take other actions to advance his takeover. Twitter has confirmed receipt of the proposal. However, it’s too early then to say if Musk would have been successful.

In a TED talk, Elon Musk said that he would privatize Twitter because the company doesn’t allow its users enough freedom of speech. The entrepreneur believes that the company should allow users to express themselves freely, despite the fact that its advertising revenues have not yet reached their potential. But he’s also made Twitter employees frightened that Musk will take the company private.

But, there have been a demand to make Twitter a public utility and a public space. However, now that Elon Musk buys twitter this could be a first step in that direction.


Updates

4/26/2022 Elon suggests current Twitter employees have only 6 months

4/28/2022 Elon receives invite from Texas and Florida to move Twitter HQ

4/29/2022 Google and Apple threaten to remove Twitter from app stores if content isn’t properly moderated


For more info on this subject check out this video

Provided by Antonio Westley


Great news by the way!

awdaily now has a youtube channel for snippets. So, if your ever too busy to follow the full details of reading content then follow this site there and stay in the loop with ease.

Visit Here


Disclaimer: This article is meant to be seen as an overview of this subject and not a reflection of viewpoints or opinions as nothing is definitive. So, make sure to do your research and feel free to use this information at your own discretion.



Tags: blogbusinesselon buy twitterElon Muskelon musk buys twitterelon musk buys twitter forelon musk buys twitter free speechelon musk buys twitter reactionfollownewstwitter + elon musktwitter elon doge
TweetPinShareSend

Related Posts

Medium Writing Platform 2022 Review

Medium membership
November 24, 2022
0
24

Whether you want to get started blogging on Medium or if you have already made a few articles and are...

Read more

5 Reasons Boxabl is Better Than Prefab Homes

Boxabl
November 24, 2022
0
205

Whether you are considering building a new home, boxabl or are simply looking to upgrade your current home, there are...

Read more
0 0 votes
Article Rating
Subscribe
Login
Notify of
guest

guest

0 Comments
Inline Feedbacks
View all comments
Youtube Twitter

My Balance

Login to view your balance.

Leaderboard

Leaderboard is empty

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 1,387 other subscribers

Translate

Copyright © 2021 AWDAILY

No Result
View All Result
  • science
  • business
  • wildlife
  • Carbon Calculator
    • Coastal Risk Screening Tool
  • solar calculator
Follow AWDAILY on WordPress.com

Copyright © 2021 AWDAILY

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Don`t copy text!
wpDiscuz
0
0
Would love your thoughts, please comment.x
()
x
| Reply
:wpds_smile::wpds_grin::wpds_wink::wpds_mrgreen::wpds_neutral::wpds_twisted::wpds_arrow::wpds_shock::wpds_unamused::wpds_cool::wpds_evil::wpds_oops::wpds_razz::wpds_roll::wpds_cry::wpds_eek::wpds_lol::wpds_mad::wpds_sad::wpds_exclamation::wpds_question::wpds_idea::wpds_hmm::wpds_beg::wpds_whew::wpds_chuckle::wpds_silly::wpds_envy::wpds_shutmouth:
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?