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Wednesday, November 30 2022
Biz-Talk

Elon Musk buying Twitter for $44 bn creates universal buzz

Tesla, SpaceX CEO Elon Musk
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Tesla and SpaceX CEO Elon Musk has finally bought 100 per cent stake in Twitter for approximately $44 billion, or $54.20 per share, in cash. For several weeks, the microblogging site has been considering Musk’s offer.

Parag Agrawal, Twitter’s CEO tweeted, “Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important.”

Twitter’s Independent Board Chair Bret Taylor noted that “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.”

Musk bought a 9.2 per cent stake in Twitter earlier this month. This made him the business’s second-largest shareholder, behind Vanguard, which owns 10.3 per cent of the company. Later, Twitter CEO Parag Agrawal invited Musk to join the board of directors, but the billionaire declined.

Last month, Musk questioned Twitter followers if he should develop a new social media platform since Twitter does not “adhere to the right to free speech.” Most users responded by urging him to buy Twitter instead. He claimed that Twitter restricts free speech, which is thought to be the first issue he would address if he became the company’s owner.

After the Twitter board approved the deal Parag Agrawal addressed his employees saying that the company’s future is uncertain and that he does not know which direction the platform will go.

#twittersold, #TwitterTakeOver, #ElonMuskBuyTwitter trends on Twitter

Comedian and American actor John Fugelsang tweeted, “For $44 billion, a guy could’ve gone down in history for ending world hunger. History will record that our mega billionaires had other priorities. #twittersold.”

Reacting to the bid another user tweeted that “it’s the first time I feel good in a while, hopefully, we can express dumb or smart opinions and get a variety of sources and not just liberal ones.”

Telugu film actor Nikhil Siddartha noted, “Hope @elonmusk Helps @Twitter become a much more Inclusive & Freer Platform than what it has Become in Recent times. Political Interference and Partisan Censorship had made the platform biased. Hope @elonmusk and his team cleanse it of all that.”

Following news that billionaire Elon Musk plans to buy Twitter, the hashtag #BringBackTrump is trending on the social media platform. However, Trump said that he is not going on Twitter and he is going to stay on TRUTH. “We’ll see about that. Truth has had some big issues and Trump has still only posted once,” journalist Meridith MacGraw.

“The wealthiest man in the world buying Twitter in the name of “free speech” brings to mind this quote from Thomas Mann: “If ever Fascism should come to America, it will come in the name of ‘freedom,’ wrote another Twitter user.

In a series of tweets, Amazon founder Jeff Bezos on Tuesday April 26 reacted to Elon Musk’s $44 billion purchase of Twitter, questioning the leverage the Chinese government may or may not acquire as a result of Musk’s hostile takeover of the social media platform. He retweeted New York Times reporter Mike Forsythe, who mentioned Tesla’s enormous market in China and its reliance on Chinese suppliers for EV batteries. “Interesting question. Did the Chinese government just gain a bit of leverage over the town square? he tweeted.

Wing Commander (Retd) Anuma Acharya congratulated Musk for buying Twitter. “Hope you keep @TwitterIndia as an unbiased platform that allows voicing dissenting views against fascist regime too!!” she added.

There were also memes depicting Musk buying Amazon, Trump heard the news from his coffin and starting dancing, an image of the Avengers: Endgame climax sequence where all the superheroes arrive, signalling the return of Donald Trump, Dr. Malone, and many more suspended accounts and many more.

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Reshma B.

Reshma Babu, a young Postgraduate in Mass Communication and Journalism from St. Aloysius College, Mangalore University, utilises her considerable learned journalistic knowledge and inherent story writing and sub-editing abilities to add value to the company’s media brands and the editorial team. All dimensions of human interaction are her prime focus.

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