Elon Musk to Purchase Twitter

Monday, Elon Musk issued a letter to Twitter higher-ups that stated he would, in fact, like to go through with his plans to buy Twitter. On Tuesday, the wheels were set in motion, with Twitter saying they would close the deal with Musk at the agreed-upon price. Now, it appears as though Twitter could have a new owner by the end of the week, as Musk requested to pay the initial agreed-upon amount of $44 billion.

The announcement has come as a bit of a surprise as this deal has been in the works for a while now. The deal has sparked lots of negotiating, a lawsuit, and distrust between the negotiating parties, and while it may be about to be closed, it is unclear yet whether or not the lawsuit filed against Musk will be dropped. 

Previously, Musk had been trying to get out of the deal, which is why many are baffled by his sudden change of heart. The strange turnaround has a lot of people wondering about his true motives for purchasing the social media platform, which prides itself on free speech and healthy conversations. 

If the deal goes through as planned, Musk will find himself paying $54.20 per share. Beyond the transaction itself, however, there are some other changes expected to be brought about with the shift in ownership. Among these expected changes are a management change, restoring accounts, and bot removals. These are three issues that Musk has been outspoken about.

The management change has a lot to do with Musk’s distaste for Twitter’s current chief executive Parag Agrawal. In the wake of the lawsuit between Musk and Twitter, some of Musk’s text messages between friends and business associates came to light, where he shared his dissatisfaction with Twitter’s current management. Particularly a personality clash between the two expressed via text message demonstrates this, with Agarwal telling Musk that his habit of texting phrases like, “Is Twitter dying” was “not helping me [Aragwal] make Twitter better.”

Another highly anticipated change that will most likely occur if the deal goes through is the restoration of previously restricted accounts. In particular, Donald Trump’s account. Just as a refresher, after the January 6 insurrection, Trump’s Twitter account was restricted, and he was permanently banned from the platform for misconduct. Musk said in an interview on Tuesday that if the deal goes through, he would revoke the permanent ban and enable Trump to make an account again. He claims that it is in line with the company’s devotion to free speech and that revoking his account conflicts with this ideology. Additionally, as part of supporting the company’s commitment to protecting free speech, Musk would remove many of the bots on the platform. Something that Musk has complained about on various occasions.

Share:

Join Our Mailing List

    Recent Articles

    Mauna Loa Volcano Erupts for the First Time Since 1984

    The world’s largest active volcano, Mauna Loa, has erupted once again, after almost 40 years since it last made headlines. The eruption began late Sunday night, marking the onset of this momentous occasion. The volcano’s last eruption was in 1984; it had erupted after three years of steadily increased earthquake activity which serves as a warning sign to volcanic eruptions. This time around, the island’s residents had less time to prepare for the eruption, as earthquake activity (which often foreshadows the eruption) only increased a few months ago, as opposed to the prior’s years of activity.

    Senate Passes Act to Protect Gay and Interracial Marriage Federally

    On Tuesday, the Senate passed the Respect for Marriage Act in a 61 to 36 vote. The act would protect interracial and gay marriage licenses at the federal level. Out of the 61 votes in favor of this protection, just 12 were republicans. One Republican senator from Wyoming, Senator Cynthia Lummis, said she was “vilified” by her party for voting to protect the fundamental civil right of marriage.

    Will Smith Addresses Oscar Slap in Interview with Trevor Noah

    It’s been eight months after the infamous slap that traveled around the world when actor Will Smith lashed out at comedian Chris Rock during the Oscars ceremony. Last night, the actor appeared on late-night television Monday for the first time since the confrontation in March. The actor sat down with The Daily Show host Trevor Noah and he talked about the altercation, which overshadowed his first Oscars win for his role on King Richard. He admitted that it was a talk with his 9-year-old nephew that brought him some clarity.

    The man accused of killing a teen’s family after ‘catfishing’ her was hired by a Virginia sheriff’s office earlier this month

    An inexperienced Virginia police officer pulled into a cul-de-sac in Riverside and parked close to the house of a teenage girl he had met online while posing as someone else, according to the police.
    According to neighbors, the man alternated between his car and the house on Friday morning as he waited for the 15-year-family old’s to arrive home. Police received a call about a young woman getting into a red Kia Soul with a male driver who appeared to be upset. The home caught fire after neighbors heard argumentative noises.

    Nationwide Protests in China See Unprecedented Levels of Backlash Against President Xi JinPing

    In response to Xi Jinping’s strict zero-tolerance Covid policies, unprecedented protests have erupted across China’s big cities. One labor scholar from Cornell explains that “for three years,” Chinese people have “seen a level of lockdown that is simply inconceivable.” Although the policies were harsh at the beginning of the pandemic, the benefits to Chinese society were clear. Throughout the pandemic, China reported far fewer cases of covid than the United States. To put in perspective just how few, the United States, a country of 332 million people, reported 1.1 million civilian deaths due to covid. In contrast, the People’s Republic of China, which has a population of 1.4 billion, reported 5,000 covid related deaths.

    Violence Breaks Out At iPhone Factory in China

    On Tuesday, violence broke out in Zhengzhou, China between the police and the workers of a Foxconn factory which is the largest producer of iPhones. The workers were protesting in front of the factory when video footage showed the police begin to attack them. Media outlets in China reported 100,000 people applied for the factory positions advertised by Foxconn. One employee, Li, quit his catering job, when he saw an “advertisement promising 25,000 yuan ($3,500) for two months of work.” A starting salary significantly higher than the average pay in the area. Other employees told news outlets that hundreds of them had spent money moving to Zhengzhou because of the promised wages.

    Hey! Are you enjoying NYCTastemakers? Make sure to join our mailing list for NYCTM and never miss the chance to read all of our articles!