Elon Musk has just passed a final agreement on April 25 with the board of directors of Twitter to buy the social network, valued at 44 billion dollars. Objective displayed for the boss of Tesla and SpaceX through this takeover: to defend freedom of expression!
It’s done! The richest man in the world becomes in fact the owner of the famous platform that he had announced to covet lately, and despite the strong opposition initially displayed by the board of directors (CA) of the famous platform.
“Freedom of expression is the bedrock of a functioning democracy and Twitter is the digital public square where vital subjects for the future of humanity are debated,” said Elon Musk following this operation.
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Concretely, he will buy the social network at a price of 54.20 dollars per share, or 38% more than its value at the close of the New York Stock Exchange on April 1, and make it a private company, not listed in Sotck exchange. Is it necessary to specify that it will, through this takeover, have a global community which includes more than 330 million regular users.
For the record, the CA had initially tried to prevent this takeover. But Elon Musk said last week he had secured $46.5 billion to complete the deal using his personal fortune and two bank loans from Morgan Stanley. He had also threatened to launch a hostile takeover bid (OPA) directly through shareholders.
With more than 83 million subscribers, Elon Musk uses his Twitter account almost every day to give news of his companies, jokes or start controversies. It’s also one of the platform’s harshest critics. Moreover, he considers that freedom of expression is not sufficiently respected there and considers the moderation of content too severe.
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On the contrary, many American and foreign elected officials consider moderation insufficient to fight once morest hatred and misinformation. Suddenly, they take a dim view of the arrival of Musk at the helm of the social network.
“I want to make Twitter better than ever by improving it with new features, making algorithms open source to increase trust, defeat spam bots and authenticate all humans,” Elon Musk said in the statement, adding that he wanted unlock the potential of the network by working with the company and the community.
