Market News
- Elon Musk recently stated that he is more than capable of affording to purchase Twitter.
- He offered to buy the shares at $54.20 per share.
- People’s reactions to Musk owning Twitter are relatively mixed.
SpaceX CEO Elon Musk recently stated that he is more than capable of affording to purchase Twitter. This said, he is worth a staggering $300 billion. Musk said that his big plan for the company is to change the user experience on the platform.
Musk told Chris Anderson in a TED Talk held at a TED conference in Vancouver on Thursday that he is seriously considering changing the way that the platform handles controversial content.
He plans to do this by not promoting certain Tweets as well as adding the ability to edit Tweets and the edit history. Under his leadership, Twitter will also encourage free speech, while still respecting the laws of various countries.
Musk stated that “A top priority I would have is eliminating the spam and scam bots and the bot armies that are on Twitter.” He added to this by saying that “They make the product much worse. If I had a Dogecoin for every crypto scam I saw, we’d have 100 billion Dogecoin.”
According to a filing by the United States Securities and Exchange Commission, Musk offered to buy Twitter’s shares. This excludes the 9% that he already owns.
He offered to buy the shares at $54.20 per share. At the time of the publication the shares were worth around $45.08. The shares have risen by 30% in the last month.
People’s reactions to Musk owning Twitter are relatively mixed. Many applauded this move by Musk as a great business move. Others seem to agree less and believe he might not be a good fit for the company considering his own immature and controversial behavior on the platform.
