What Musk said
“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. I also want to make Twitter better than ever by enhancing the product with new features, making the open source algorithms to increase trust, defeating the spambots, and authenticating all humans. Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it,” Musk said in a press statement posted to his Twitter account.
Will CEO Parag Agrawal remain onboard?
Twitter Inc CEO Parag Agrawal employees told on Monday that the future of the social media firm is uncertain after the deal to be taken private under Musk closes.
Agrawal, a graduate from the Indian Institute of Technology-Bombay’s 2005 batch, would get an estimated $42 million if he were terminated within 12 months of a change in control at the social media company, according to research firm Equilar. Equilar’s estimate includes a year’s worth of Agrawal’s base salary plus accelerated vesting of all equity awards, an Equilar spokesperson said.
Where will Musk get cash for Twitter?
Of the $44 billion, 50-year-old Musk has outlined the $13 billion in bank financing secured by the social-media company and the $12.5 billion backed by a pledge of some of his $170 billion Tesla Inc. stake. But he’s been short on details about how he’ll fund the remainder.
There’s little doubt he can come up with the money. Musk is the world’s richest person, with a fortune of $257 billion, according to the Bloomberg Billionaires Index. However, he has just about $3 billion in cash and somewhat liquid assets, according to Bloomberg estimates. Some of the options in front of him include approaching like-minded investors, selling his stakes in Tesla, or dipping into his unknown stash of crypto.
Elon Musk can at times be inscrutable, and his politics are elusive, which has made it somewhat difficult to determine exactly what the billionaire would do if he successfully acquired Twitter.
But over the past weeks and months, as he neared Monday’s deal with the company, Musk has given more hints about what he would change about Twitter — in interviews, regulatory filings and, of course, on his Twitter account. More content moderators, err… free-er free speech, a possible change in Twitter algorithm? Here’s what experts think.
Wait… does this mean Trump will be back?
Nope, says the former US President.
Donald Trump said Monday that he has no intention of rejoining Twitter even if his account is reinstated.
Trump told FoxNews that he will instead focus on his own platform, Truth Social, which has been mired in problems since its launch earlier this year. “I am not going on Twitter. I am going to stay on Truth,” Trump was quoted telling the network. “I hope Elon buys Twitter because he’ll make improvements to it and he is a good man, but I am going to be staying on Truth.”
Trump was barred from major social media platforms after the deadly January 6 insurrection, with Twitter citing the “risk of further incitement of violence”.
Former Twitter CEO Jack Dorsey weighs in
While Musk’s takeover of the social network has sparked mixed reactions all over, forming Twitter CEO Jack Dorsey has given him wholehearted approval.
Dorsey posted in a series of tweets that approved of Musk’s deal and said that ‘taking it back from Wall Street’ was the correct first step. For those who are unaware, Musk intends to take the company private, meaning it will not be a publicly listed one. Dorsey went on to add, “In principle, I don’t believe anyone should own or run Twitter. It wants to be a public good at a protocol level, not a company. Solving for the problem of it being a company, however, Elon is the singular solution I trust. I trust his mission to extend the light of consciousness.”