Elon Musk has taken control of Twitter after a protracted legal battle and months of uncertainty. The question now is what the billionaire Tesla CEO will actually do with the social media platform.
The $44 billion takeover means Twitter is becoming a private company that everyday investors will no longer be able to buy shares in. The New York Stock Exchange suspended trading in the company’s stock on Friday, and the shares will be delisted on Nov. 8, according to a filing with securities regulators.
“I will be digging in more today,” he tweeted early Friday, in response to a conservative political podcaster who has complained that the platform favours liberals and secretively downgrades conservative voices. Trump has repeatedly said that he will not return to Twitter even if his account is reinstated, though some allies wonder if he’ll be able to resist as he moves closer to announcing another expected presidential campaign. His Twitter account remained suspended Friday.
Wedbush analyst Dan Ives estimated that Musk and his investors overpaid. Even Musk has said the $44 billion price tag for Twitter was too high but that the company had great potential. At the same time, Musk sought to assuage advertisers — Twitter’s chief source of revenue — that he didn’t want the platform to become a “free-for-all hellscape.” His letter was an attempt to address concerns that his plans to promote free speech by cutting back on moderating content will open the floodgates to more online toxicity and drive away users.
Breton and Musk met in May and appeared in a video together in which Musk said he agreed with the 27-nation bloc’s strict new online regulations. Its Digital Services Act threatens big tech companies with billions in fines if they don’t police their platforms more strictly for illegal or harmful content such as hate speech and disinformation.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Chief Twit': Elon Musk visits Twitter headquarters as deal nears finish lineTwitter is expected to come under Elon Musk’s ownership by 5 p.m. New York time on Oct. 28. Find out more.
Read more »
'Chief Twit': Elon Musk visits Twitter headquarters as deal nears finish lineTwitter is expected to come under Elon Musk’s ownership by 5 p.m. New York time on Oct. 28. Find out more.
Read more »
Elon Musk lugs sink into Twitter HQ as $44B deal deadline loomsElon Musk strolled into the company\u0027s headquarters Wednesday carrying a sink and tweeting \u0022Entering Twitter HQ \u002D let that sink in!\u0022
Read more »
'Chief Twit': Elon Musk visits Twitter headquarters as deal nears finish lineTwitter is expected to come under Elon Musk’s ownership by 5 p.m. New York time on Oct. 28. Find out more.
Read more »
Elon Musk Assures Twitter Advertisers it Won’t ‘Become a Free-For-All Hellscape’“In addition to adhering to the laws of the land, our platform must be warm and welcoming to all, where you can choose, for example, to see movies or play video games ranging from all ages to mature.”
Read more »
Elon Musk has taken control of Twitter and fired its top executivesElon Musk has completed his US$44 billion deal to buy Twitter, a source familiar with the deal told CNN Thursday. Musk fired CEO Parag Agrawal and two other executives, according to two people familiar with the decision.
Read more »