Does Elon Musk Own Twitter?
Yes. Elon Musk bought Twitter for $44 billion on Monday, according to the company, giving the world’s richest person control of one of the most influential social media sites which serve as a platform for political leaders, a sounding board for experts across industries, and an information hub for millions of everyday users.
The purchase came after weeks of Tesla CEO Elon Musk preaching about the need for “free expression,” citing Twitter’s position as the “de facto town square” and taking issue with content moderation measures that he sees as a step toward censorship.
He believes Twitter is critical to democracy’s functioning, and that the economics are unimportant to him.
The fact that Musk owns Twitter gives him control over a number of very important sociological and political concerns, probably most notably the ban on former President Donald Trump that the website imposed in the aftermath of the riots on Jan. 6.
Twitter will become a private corporation under the terms of the agreement, with stockholders receiving $54.20 per share, according to a press release.
“Free speech is the core of a functional democracy, and Twitter is the digital town square where issues critical to humanity’s future are debated,” Musk said in a statement, to which he added “Yesss!!!” and an emoji in a tweet.
“I also want to make Twitter better than it has ever been by adding new features, opening up the algorithms to increase trust, combating spam bots, and authenticating all humans.”
I’m excited to work with Twitter and the community of users to help them realize their full potential.”
Musk’s views on free speech and how to regulate the site have put him at odds with Twitter’s current leadership, raising doubts about how he plans to implement his ideas and whether they will have an influence on the company’s current executive structure.
Who Is The New Owner Of Twitter?
Elon Musk is the new owner of Twitter. Elon Musk has finally purchased a 100% stake in Twitter for approximately $44 billion, or $54.20 per share, in cash.