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Elon Musk buys Twitter for $44bn
After Twitter mentioned it has reached an settlement to promote the corporate to Elon Musk for round $44bn, the platform’s former chief and co-founder Jack Dorsey has known as the billionaire’s takeover of the corporate the “singular answer” he trusts.
The deal was introduced by the social media platform on Monday after days of negotiations between the world’s richest particular person and the Twitter board.
Musk pays $54.20 money per share for the San Francisco-based firm, which is able to now be taken personal after days of intense negotiations between the entrepreneur and the platform’s board.
The board introduced it had reached a cope with Musk on Monday, and that it represented a 38 per cent premium from Twitter’s closing value on 1 April, the day earlier than the world’s richest particular person made his transfer for the corporate by asserting his 9 per cent stake.
Musk will probably make some vital modifications to the social media platform, having made a number of hints in latest months about what his intentions are. It comes after Musk’s good friend Dorsey stepped down as CEO and Parag Agrawal took over.
Elon Musk’s Twitter deal raises issues over concentrated wealth and energy on-line
ICYMI: A deal for the world’s wealthiest particular person to buy social media firm Twitter for $44bn has raised alarms over the focus of billionaire energy throughout social media platforms and the way they are going to be used to form each public coverage and the financial pursuits of the individuals working them.
Elon Musk’s large buy has additionally revived calls from members of Congress and different critics to demand that US billionaires pay increased taxes, whereas questioning Mr Musk’s public and self pursuits in spending that a lot cash to manage the platform.
Alex Woodward has all the small print.
Graeme Massie27 April 2022 03:04
Some Republicans concern a Trump return to an Elon Musk-owned Twitter, studies say
ICYMI: Whereas some Republicans took to publicly cheering Elon Musk’s $44bn buy of Twitter as a significant victory without spending a dime speech, there have been some who considered it with trepidation, in accordance with studies.
For a collection of high GOP insiders informed Politico Playbook of their grave issues concerning the new Musk-led Twitter changing into a haven to welcome again beforehand banned accounts, particularly Donald Trump.
Johanna Chisholm has the story.
Graeme Massie27 April 2022 02:05
Who owned Twitter earlier than Elon Musk?
When Elon Musk lastly closes his $44bn deal for Twitter this 12 months he’ll joint ranks of media moguls, that embrace his rival for title of world’s richest particular person, Amazon’s Jeff Bezos.
The Twitter board lastly accepted the Tesla boss’s $54.20 per share money provide for the platform on Monday after intense negotiations, each private and non-private, and it now needs to be ratified by its shareholders.
Graeme Massie27 April 2022 01:02
What occurs to my Twitter inventory?
Elon Musk has been given the inexperienced mild to take over Twitter after the corporate’s board accepted his money bid that might worth it at round $44bn.
Twitter nonetheless stays a publicly-traded firm on the New York Inventory Change and can stay so till the platform is “delisted.”
Graeme Massie27 April 2022 00:35
Susan Collins says that Trump ought to get his Twitter again
Republican Senator Susan Collins of Maine informed Huffpost that former president Donald Trump ought to be allowed to have his Twitter account again.
The remarks come as Tesla magnate Elon Musk introduced that he would purchase the platform. Many conservatives have expressed hope the sale would imply that the previous president would return to the social media platform.
Graeme Massie27 April 2022 00:03
Elon Musk’s ‘X Holdings’ to finish Twitter buy by 24 October
A brand new SEC submitting by Twitter reveals that the corporate will merge with two of Mr Musk’s ‘X Holdings’ firms later this 12 months after the corporate agreed to promote itself for $44bn.
Graeme Massie26 April 2022 23:06
Tesla boss slams critics who ‘concern free speech’ after $44bn Twitter bid accepted
Elon Musk has slammed these critics who ‘concern free speech’ after having his $44bn Twitter bid accepted by the social media firm.
The Tesla CEO took to Twitter after staying off the platform for nearly 24 hours within the wake of his takeover of the corporate being introduced on Monday.
“The acute antibody response from those that concern free speech says all of it,” he tweeted.
Graeme Massie26 April 2022 20:41
Will Donald Trump come again?
When requested if former US president Donald Trump could be allowed again on Twitter following Elon Musk’s deal to purchase the platform, the corporate’s chief govt Parag Agrawal mentioned the query ought to be directed to the billionaire himself.
“Twitter has a objective and relevance that impacts the whole world. Deeply happy with our groups and impressed by the work that has by no means been extra necessary,” Mr Agrawal mentioned.
Talking at a company-wide assembly following the announcement, Mr Agrawal informed Twitter employees that the way forward for the social media agency is unsure after the cope with the Tesla chief closes, in accordance with Reuters.
On the assembly, he was reportedly requested whether or not Mr Trump – who was banned from Twitter final 12 months within the aftermath of the 6 January 2021 Capitol riots – could be allowed to return.
“As soon as the deal closes, we don’t know which route the platform will go. It’s a query we must always deal with with him [Musk],” Mr Agrawal replied.
Adam Smith26 April 2022 19:30
Tesla share value slumps day after Musk buys Twitter
Tesla noticed greater than $100bn wiped offits market cap because the share value of the electic car firm slumped greater than 10 per cent the day after Elon Musk purchased Twitter.
On the time of this put up on Tuesday, Tesla shares had been down 11.5 per cent, or $114.82 to $883.20 per share.
Graeme Massie26 April 2022 19:03
Ought to Musk deal with Twitter like a messaging platform?
The Verge’s David Pierce has argued that Twitter just isn’t the ‘digital city sq.’ that Elon Musk believes it’s. As a substitute of a debate it’s a carcophany of voices, unhelpful to debate.
“Twitter shouldn’t attempt to optimize the general public area, a 200 million-person dialog that can by no means make sense. As a substitute, below Musk, the corporate ought to deal with the personal aspect of the platform, a woefully underdeveloped system for messaging and speaking that would flip it into the very best messaging app in the marketplace”, Pierce writes.
“Twitter ought to make investments closely in making DMs a robust, searchable, encrypted messaging system. It ought to lastly roll out the much-rumored “lengthy tweets” function that lets individuals put up greater than 280 characters. It ought to proceed to work on the Communities function so individuals can chat about issues they’re excited about somewhat than junking up their followers’ timelines with stuff they gained’t care about. It ought to combine Revue newsletters and deal with making Areas extra helpful and dependable. It ought to fear much less about rating your timeline and extra about supplying you with methods to speak and folks to speak to.”
Adam Smith26 April 2022 19:00
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