Elon Musk Attempts to Buy Twitter

Elon Musk bought Twitter for $44 billion.

via timeofnews24

Elon Musk bought Twitter for $44 billion.

Elon Musk, the CEO of Tesla, SpaceX, Neuralink and The Boring Company, is a person with a multi-billion dollar net worth attempting to buy Twitter, offering 48 billion dollars for the app. Elon has already spent 3 billion purchasing the top stake in Twitter. Elon says he doesn’t care about the economics of Twitter. Twitter is enacting a poison pill strategy to deter Elon Musk from buying Twitter, but despite its efforts, Elon Musk continues to pursue his goal. This has led to many people wondering what his motives are.
The leading theory into why Musk wants to buy Twitter is to eliminate censorship on the app. Similar to how former president Donald Trump was suspended on the platform for speaking his mind. Twitter is known for censoring conservative ideas and labeling them as spreading false information. Elon Musk’s plans might include getting rid of censorship on the platform. Believing that people’s freedom of speech should not be violated. Even if Twitter was censoring liberal ideas it still would not be right to do that. People should have the right to speak their mind without censorship and not fear about possibly being banned.
Twitter is trying to stop Elon Musk from trying to buy them out. They have adopted the so-called poison pill strategy. According to business standard, “A poison pill strategy gives existing shareholders the right to purchase additional stock at a significant discount, thus diluting the holdings of a new, hostile investor. It is officially known as a shareholder rights plan. Twitter’s poison will stay in place for a limited duration of one year.” The poison pill would instantly make Musk’s shares worth way less, but the strategy has its downsides. The poison pill could result in Twitter’s stock price dramastically declining. Twitter is already one of the smaller social media platforms, despite growing in popularity in recent years. Since Twitter is a relatively new social media platform, it accounts for about 8.85% of the world’s overall social media user base. If Twitter enacts the poison pill method, the company could fail.
All in all, Elon Musk is trying to perform a good deed by eliminating censorship on the social media platform. Since the platform is fairly new and pretty the company might fail. If Musk can accomplish his goal without the corporation stopping him, that would be a great feat; an event where Musk could show his smarts.