World’s richest man Elon Musk has his sights set on Twitter, Christine Emba said in The Washington Post. The Tesla tycoon, who is himself an avid tweeter with more than 82.6 million followers, began “secretly” acquiring a 9.2% stake in the social media company, making it its largest single shareholder . Now he has made a hostile takeover bid worth $43 billion at $54.20 per share.
But while Musk’s fan base will cheer, the rest of us shouldn’t. Twitter has 217 million users: journalists, activists and ordinary citizens tweeting about serious issues, from the situation in Ukraine to Black Lives Matter. “What does it mean when a billionaire can almost single-handedly storm in and eat up this type of platform?” The answer: “No good.”
Musk often abused his own Twitter account, Ryan Coogan said The Independent. He has used it to inflate his own stock prices, spread Covid “misinformation” and baselessly slander British caver Vernon Unsworth as a “pedagogue” after he “committed the grave sin” of rescuing Thai people Helping children in front of a flooded cave. He is an “anarchist”. Putting him in charge of Twitter “would be like giving a loaded gun to a toddler.”
On the contrary, said Gerard Baker in The times: A Musk-owned Twitter would be a big improvement because Musk actually believes in freedom of speech. Twitter has far fewer users than, say, Facebook, but it plays an “outsized” role in the lives of journalists, politicians, and other news-obsessed people. As a result, it “drives much of our public discourse forward,” particularly in the contentious areas of partisan politics, gender and race.
In recent years, it has played an important role in the progressives’ “war on heretical comments and inconvenient facts.” It outlawed Donald Trump in 2021 and blocked a critical New York Post story about “acting to influence” by Joe Biden’s son Hunter just before the 2020 election, which later turned out to be true. Under Musk, that would all change.
There’s no guarantee Musk will prevail, as Twitter’s board really doesn’t want him to call the shots, Kari Paul said The guard. They unanimously approved a plan known as the “poison pill” that would allow existing shareholders to buy shares “at a significant discount to dilute new investors’ stakes” if one of them buys more than 15%. “Theoretically, the enemy investor would eventually run out of money.” The catch on this case is that Musk is worth around $260 billion. Some have suggested the whole thing is an elaborate joke on him. We’ll soon find out how serious he is.
https://www.theweek.co.uk/business/956496/will-elon-musk-manage-to-take-over-twitter Can Elon Musk take over Twitter?