On Monday, Twitter disclosed that Elon Musk, the billionaire and CEO of Tesla and SpaceX, intends to buy the social media business for $44 billion.
Twitter will become a privately held firm once the purchase is completed, which is scheduled to happen this year.
“Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it,” said Musk in a statement
What does Elon Musk’s idea imply for Twitter’s and its users’ future prospects? How are people reacting to the news that Twitter has a new owner? Here’s what we’ve learned so far.
Why did Elon Musk’s buy Twitter?
Musk has been critical of the platform’s content moderation for a long time. Musk said he invested in Twitter because of its potential as a worldwide platform for free speech when he first proposed buying the service earlier this month.
What will Twitter look like in the future?
Musk’s remarks on free speech indicate that the billionaire may relax the regulations governing how tweets are filtered. Experts, on the other hand, are concerned that a service that already struggles to deal with misinformation and harassment will deteriorate.
Musk has also hinted at other features he intends to implement, including as a mechanism for “authenticating all humans” and attempting to purge the platform of spam bots.
It’s also likely that Musk wants to focus more on Twitter as a subscription-style service, rather than advertising.
What are the opinions of the users?
The deal has received mixed reviews. The phrase “RIP Twitter” was trending on the platform around the time the agreement was revealed.
Some users were taken aback by Musk’s willingness to pay such a high price for Twitter, while others wondered if he made the transaction to curtail unfavorable posts about him.
Others asked what the change in ownership would mean for users who had been banned from the network previously.
Is this a sign that Donald Trump will return to Twitter?
Following the Jan. 6 Capitol rioting, Twitter permanently banned the former president, citing “the risk of further incitement of violence.”
Many analysts predict that once Musk takes control of the corporation, he will reinstall Trump.
Trump, on the other hand, has stated that he will not return to Twitter, even under new ownership, preferring to continue with his own TRUTH Social app.