Huge Shift in Social Network: Elon Musk became Twitter’s New Owner

The world’s richest man and SpaceX founder Elon Musk have bought the microblogging site Twitter. There was speculation for the last several days about the purchase of Twitter. According to international news agencies, Elon Musk has succeeded in his bid to take over Twitter and the deal was announced on Monday.

Elon Musk has confirmed this deal for $ 44 billion means 3368 billion rupees. Musk’s takeover of the social network has sparked mixed reactions all over, former Twitter CEO Jack Dorsey has given him wholehearted approval.

Who is the Former CEO of Twitter?

Jack Patrick Dorsey (born November 19, 1976) is an American Internet entrepreneur, programmer, and philanthropist who is the co-founder and former CEO of Twitter, as well as the founder and principal executive officer of Block, Inc., a financial payments company.

After Musk’s acquisition, Twitter founder Jack Dorsey expressed support for Musk’s takeover. In a Twitter thread, Dorsey has said that this is the “correct first step” today taking Twitter back from Wall Street.

Elon Musk hints at changes in Twitter

After the deal was finalized with Twitter, Elon Musk made a tweet, in which he indicated to make major changes to Twitter.

They wrote,

“Free speech has been a fundamental right of any democracy. And Twitter is one such digital town, where various issues for the future of humanity are debated. I want to make it better than before by adding new features to it. Twitter’s algorithm will be open-sourced so that people’s trust can be won. Now all humans on Twitter will be authenticated and bots will be completely eliminated. Twitter has tremendous potential. I look forward to working with the company. I also thank the users for unlocking it.”

Till now Twitter is a public company with many stakeholders. Musk had said that to improve Twitter, it would have to be made private.

Spambot accounts will be wiped out now, Elon Musk has also promised that after buying Twitter, he will remove bot accounts from this platform.

He has also said that he can fight for his life to remove the bot account.

Why did Elon Musk refused to become a board member?

His reaction to Twitter has been in the news for the last several days. Elon Musk offered to buy Twitter after he refused to join the company’s board of directors. This move of Musk pointed toward his big plan. Twitter CEO Parag Agarwal tweeted on April 11 and informed us that he is not joining the board.

Earlier, after buying a stake in Twitter, another tweet by Elon Musk had heated up the discussion. He had asked people through a poll whether there should be an ‘edit button’ on Twitter or not. While retweeting this, Parag Aggarwal had said that people should reply to this poll carefully, because its result will be very important.

What will the shareholders get?

According to the various report, after becoming a company owned by Elon Musk, all the shareholders of Twitter will get $ 54.20 i.e. Rs 4148 in cash for every share. This share price is 38% higher than before Musk disclosed his 9% stake in Twitter.

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