Elon Musk, the world's richest person bought Twitter for $44 billion. Elon Musk has joined Twitter in June 2009. Since he is an active user of Twitter and now has 88.4 million followers on Twitter. Musk is also acquired 8th position in the list of top 10 most following people on Twitter. But who knew that one day he will own Twitter. Let's dive into details, how did Elon Musk buy Twitter? Why did he buy Twitter? Now, what changes can we expect in Twitter?
How Did Elon Musk Buy Twitter?
The journey of purchasing Twitter started with a 9% stake taken by Elon Musk and end with the sale of Twitter at a price of $44 billion. On 4 April 2022 Musk to a 9% stake in Twitter and became the top shareholder. Ten days later, on 14 April he announced he want to buy Twitter for $54.20 per share price and in a filing with the US Securities and Exchange Commission, he disclosed his offer to buy Twitter. Finally, on 25 April 2022, 11 days after Elon Musk's offer, the board of Twitter started negotiation with Elon Musk and the deal closed at the price of $44 billion, Musk accepted the offer and bought Twitter.
Why Did Elon Musk Buy Twitter?
As Elon Musk always liked the freedom of speech and he was using Twitter as one of the sources for his freedom of speech. He started ruling Twitter through his tweets in the last few years, he also got the power to rise and fall the prices of bitcoins through his tweets. So he planned to rule the whole Twitter.
"Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated," Musk said in a statement
Following are the possible reasons behind Elon Musk buying Twitter:
Elon Musk has some serious political and social convictions about how Twitter should be run, and he doesn't think Twitter is running in that way.
As he is also an active user of Twitter, he enjoys and benefits from tweeting and would like it to be tailored to his needs. His company's value is enhanced by his status as a bizarre public figure on Twitter, so he definitely sees a lot of value in tweeting and likely wants to acquire it.
He wants to make Twitter the best source of "free speech" and make it free from "hate speech".
Changes That Can Be Expected On Twitter
The major changes that can be expected on Twitter are:
As currently, the edit button is not available on Twitter, which means once you tweeted, you can't edit it because there is no option to edit a tweet, you can only delete your tweet. But now you can expect an edit button on Twitter soon, which will allow you to edit your tweet once it is posted.
Getting Rid Of Bad Bots
As currently there are lots of bots available on Twitter to gain followers, automate tweets and many more. Basically, there are two types of bots: good bots and bad bots. "Good bots," according to Twitter, are automated accounts that "assist users in finding helpful, amusing, and relevant content every day." "Bad Bots," are used to promote fake news, campaigns, spamming, invading other's privacy, hacking purposes and a lot more. Elon Musk's vision is to make Twitter a safer place for conversation, free speech, sharing helpful information, daily updates, etc. Bad bots are harmful to user's privacy and obstruct free speech. Elon Musk can take action against these bad bots to make Twitter, a safer place.
Currently, verifying the profile on Twitter is not available for everyone, it is limited to selected people like journalists, politicians, celebrities and government agencies. Elon Musk will find a way to differentiate between a bot and a real person and if you will identify as a real person then maybe a "self-verification feature" that Twitter may roll out.
Changing The Way Twitter Algorithms Work
Elon Musk has some serious political and social convictions about how Twitter should be run, and he doesn't think Twitter is running in that way. Currently, we have very little control over what we see on Twitter, the political tweets, the entertainment tweets, the ads etc.
Elon Musk says he will open-source the entire process so that everyone can see what is going on and why Twitter is showing certain tweets and