61 / 100

Finally, the owner of Tesla and American billionaire Elon Musk buys Twitter for $44 billion (£34.5bn). The Twitter board has finally accepted an offer from Elon Musk, one of the world’s richest persons. As soon as Twitter announced the deal, Musk said – “Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity and debated.”

As per research, Twitter shares on Monday traded up more than 5% at about $52.00. Twitter’s Chief Executive, Parag Agarwal, said – “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.”

After some internal discussions, Twitter’s board finally announced on Monday that it unanimously agreed to sell the platform to the chief executive of Tesla Motors, Elon Musk, in a deal valued at $44 billion.

After this huge announcement that Elon Musk buys Twitter, it is now difficult to say precisely how he will lead Twitter and how it will differ from its shareholder-owned iteration. With around 83 million followers on Twitter, the billionaire has romped across memes, but he kept saying that he wants to ‘Transform’ the platform by promoting more free speech and offering more control over what people see on Twitter.

Now is the time to make it happen. Maybe, Elon Musk could work on the service out of sight of regulators and investors. This big step taken by the world’s richest man has somehow raised the demand for social media applications, and it will somehow impact the IT market in the coming time.

Table of Contents

What Else Has Twitter Agreed to Elon Musk’s Bid?

The deal is scheduled to be finalized later this year. However, before the deal is done, shareholders and regulators in the US and other countries where Twitter does business must weigh in. Elon Musk is off to a solid start in the process, with the board of Twitter overwhelmingly approving his bid and urging that shareholders do the same.

Will Twitter CEO Parag Agarwal Remain Onboard After This Deal?

On Monday, Twitter’s CEO Parag Agarwal said to his employees that the social media platform’s future is uncertain after Elon Musk buys Twitter and closed the deal. However, he concluded that there would be no layoffs as of now. Also, the reports predict that Parag Agarwal will get an estimated amount of $42 million if he gets terminated within 12 months.

What does Will happen After Elon Musk’s Control Of Twitter?

This is one of the major questions striking everyone’s mind what will happen at Twitter under Elon Musk’s control. Well, there is no fixed answer to this, as Twitter’s CEO Parag Agarwal told his employees that the social media future is uncertain. Also, Musk will have a question and answer session later. So, the question – What will happen after Elon Musk buys Twitter isn’t certain to date.

What Major Changes Did Elon Musk Will Bring to the Table?

Musk has stated and spoken about making open-source algorithms. Also, he has spoken about the need for an Edit button and taking on spambots. It is also noticed that Elon Musk’s tweets have more spam accounts posting in replies. Even though most of them have their profile and name, the Twitter handle name differs. So, this is what Musk has talked about on Twitter so far. Maybe he is trying to get the system more advanced and secure than one could have never thought.

Will Trump Return To Twitter?

One of the most widely asked questions, “Will trump return to Twitter?” is becoming the talk of the town. If Musk got control of Twitter, he would reinstate certain accounts, including former U.S. President Donald Trump. But, Trump seems to be not interested in returning on Twitter.

Before Elon Musk’s deal was announced, Trump stated, “I am not going on Twitter; I am going to stay on TRUTH.” He also said that “I hope Elon buys Twitter because he’ll make improvements to it, and he is a good man, but I am going to be staying on TRUTH.” So, to date, there are no chances that Donald Trump will return on Twitter.

Before Elon Musk was offered to buy Twitter this month, he showed his concern about the platform’s relevancy. Moreover, he promised in a tweet Thursday that he would “defeat the spam bots or die trying!”