Twitter announced on Monday that it has reached an agreement with Elon Musk and invited him on board. From the beginning of 2022, Twitter was in the spotlight to become a private firm sooner or later. It all started when Elon Musk refused a seat on the Twitter board. When a multi-billionaire refuses to step in, Twitter senses the jeopardy of losing investors. Following a whirlwind of negotiations left Twitter with no choice but to accept a $44 billion buy-out proposal by Elon Musk himself. Well, all of this started when Elon Musk bought Twitter, so let’s get into the root of it.
Impulse-buying of 9% of the Twitter stock is not as shocking as it seems on the surface. The announcement took by storm on tweets at the moment. On the good side, Elon encouraged the idea of less censorship. The less interesting fact is that Twitter will be a billionaire’s plaything now. Twitter employees refusing to return to the office is another matter of dispute. In short, things are chaotic for Twitter now.
The news of ‘Twitter on Sale’ had sparked a flurry of debates and anxiety among investors. Many are still in disbelief quoting it as a plan to excite the stock price. Finance experts also express concern about the upcoming cryptocurrency scam following the news. Twitter has a painful history of crypto scams by hackers impersonated as Elon. Since so many things are revolving around it, let’s see what actually works under the hood of this intriguing offer.
Why did Elon Musk buy Twitter?
As expected, Twitter will become a privately-held firm after the buy-out. From the beginning, ‘Freedom of Speech’ was the ultimate controversy regarding Twitter, and Elon Musk has constantly blasted Twitter for its failure to maintain it. After sacking Twitter, Elon highlighted his intentions to broaden the archetypes of tweets permitted on the platform.
Elon Musk has been the clown, whimming to gain attention on Twitter always. People are dubious of his purchase because of this. What if he merely bought Twitter to have fun with?
The guarantee for freedom of speech was his long-term plan for Twitter. He mentioned it several times long before the purchase.
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How did the Twitter Board React to the Sale?
Twitter had been on the verge of breakdown on this week-long pursuit of purchase. Either accept $44 billion or counterattack – That was it. Sources confirm that Elon Musk must have huge intentions for Twitter, or he wouldn’t risk being investigated by the US Securities and Exchange Commission.
Bret Taylor, Twitter’s independent board chair, said in announcing the deal, “The Twitter Board conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing. The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter’s stockholders.”
Twitter Riposte to Elon Musk Buys Twitter
Twitter welcomes the new owner with his language- memes. The origin of Elon memes started so bad after his backing dogecoin. He was dubbed as ‘Dogefather’ for his support of meme coins, dogecoin. Later he dodged a bullet by grooving at Shiba Inu over Dogecoin.
Also, read 5 Most Retweeted Tweets In The Entire History Of Twitter World 2022
Twitter is more curious about the reinstatement of banned accounts, and many names call for votes. NAACP quoted their concern and warned that allowing Twitter to become a breeding ground for hate speech is not an option. Everyone is horror-struck on freedom of speech, we believe.
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Giant Whales Weigh In | Investors React to Elon Musk Buying Twitter
A solid figure scrutinized the rumors of Elon buying Twitter as a stratagem to inflate the stock price as rumors are there that Elon is flexible with bribing. Giant whales have secured funding the moment the announcement is issued. The striking-golden deal frequented investors and tech giants.
Cameron Winklevoss quoted the deal as ‘Inevitable.’
Billionaire investor Mark Cuban was in disbelief of Elon buying twitter conspiracies. But sources affirmed that the fund had been secured.
Amazon’s Jeff Bezos lighted a conjecture pointing to the connection between the Chinese government and Elon musk.
Also, read 11 Most Liked Tweets of 2022 | No.1 Tweet Made People Cry
The Twitter deal has become one of the most significant mergers in the tech sector. Is it going to be a game-changer or another absurdity? Now the world is watching. Few people are happy about the purchase, and even fewer are worried that it may lead to a future struggle. Investors and hedge funds are secured enough to battle any scenario. Reducing censorship is a matter of dispute with human rights associations. When things are topsy-turvey, all we know is Elon Musk owns Twitter now!
What do you think of this $44 billion Twitter deal? Let’s know in the comments. Let us know what more we have to cover?
Frequently Asked Questions
1. Why is Elon buying Twitter a big deal?
Twitter is one of the largest social media platforms known for its public opinions and controversies. When Elon bags the deal with $44 billion, users fear that Twitter will become a ‘plaything’ for this billionaire. A vast majority welcomes the deal quoting the reduced censorship has finally arrived.
2. How much did Elon Musk pay for Twitter?
The twitter board has reached an agreement of $44 billion with Elon Musk. Musk owns the largest share of Twitter now.
3. What is Elon Musk’s net worth?
According to 2022 data, Elon Musk has a net worth of 264 billion.