Tesla CEO has offered to buy the social media giant known as Twitter for a whopping $41.39 billion in cash. The offer comes after Musk declined a role on Twitter’s board of directors. He was initially offered the role after becoming Twitter’s largest individual shareholder when he purchased $2.89 billion shares. This was the equivalent to 9.1% of Twitter’s shares at the time. If Musk had accepted a role as a board member, his maximum stake in Twitter would be capped at 14.9%. Therefore, his refusal of a board membership clearly signified that there would be more to come.
Elon Musk’s gargantuan proposal is just that… a proposal. Nothing concrete has come of it yet. But that may change in the very near future. If the deal goes through and the S.E.C. “signs off” on it… then Twitter will be shaken to the core. Social media itself may be shaken to the core. There is sort of an… “alliance” among big tech companies. Whenever one of them makes a political move, the others typically follow suit. Musk has often criticized Twitter for their censorship of free speech and imperfect “quality of life” features. Those things are most certainly going to change under his leadership.
Some Twitter employees have already spoken out against an Elon Musk “takeover”. A report on the New York Post states that some of them sought to have “safe spaces” to deal with the anxiety and stress of a looming Elon coming into the workplace. So his ability to lead current employees is sort of… in question. One thing, however, is for sure and for certain. Elon Musk complained about issues going on and rather than just leaving his complaints on a random desk, he is taking action to rectify those complaints with tremendous sums of money.
SOURCES:
Elon Musk begins hostile takeover of Twitter with $41.39 billion offer – Rebel News
Twitter ‘a s–t-show’ for employees since Elon Musk took stake
Elon Musk Sued by Investor for Delay in Disclosing His Twitter Stake | Barron’s
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