Elon Musk claims his reason for buying Twitter is to unleash its free speech potential. He claimed that Twitter “needs to be transformed as a private company” to build trust with users.
Elon Musk who is widely known around the Twitter space for his numerous views about the technology space some months ago initiated a takeover of Twitter app.
Follow this decision by the billionaire Elon Musk, the board of Twitter has agreed to a $44bn (£34.5bn) takeover offer from the billionaire, which will transform Twitter from being a Public company since its inspection in 2013 to a Private company.
Elon Musk on making this shocking bid some weeks back stated that Twitter had a lot of ‘tremendous potential’ which he would like to unlock.
Prior to the bid made by the billionaire, he had earlier took to his Twitter account to make comments about the management of the app, from relaxing its content restrictions to eracdicating fake accounts, while stating, “I don’t have confidence in management.”
Elon Musk making a statement, said that “I could technically afford it,” Elon Musk said “But this is not a way to sort of make money. It’s just that I think this is my strong intuitive sense is that having a public platform that is maximally trusted and broadly inclusive is extremely important to the future of civilization. I don’t care about the economics at all.”
Elon Musk widely known around the world for being the world’s richest man, according to Forbes magazine, with an estimated net worth of $273.6bn mostly due to his shareholding in electric vehicle maker Tesla which he runs. He also leads the aerospace firm SpaceX.
Elon Musk took to his Twitter account to make some posts on his Twitter account when announcing the deal.
“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,” Mr Musk said in a statement announcing the deal.
“I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans,” he added.
“Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it.”
Elon Musk claims his reason for buying Twitter is to unleash its free speech potential. He claimed that Twitter “needs to be transformed as a private company” to build trust with users.
Shortly before the deal was announced Elon Musk took to his Twitter account to state that he hoped his “worst critics” would be allowed to remain on the platform.
The takeover by the billionaire has attracted a lot of supports from the US Republican Party as the former president of US, Donald Trump, was kicked out of the app. Notwithstanding this, Trump has claimed that he has no intention of making use of the Twitter app again as he intends to stick with his own Social Media app.