The possible acquisition of Twitter by the boss of Tesla has seen many twists and turns for months. On several occasions, the American billionaire has changed his mind about his willingness to proceed with the acquisition. Badly seen by some, but well perceived by others, this operation could however materialize this month.
Twitter is currently going through some tough times. Between April and June 2022, its revenues fell by 1%. At the same time, the company’s employees are becoming increasingly demotivated. The likelihood of a takeover by Elon Musk, the boss of Tesla, has amplified major concerns about the future of the blue bird. The entrepreneur has indeed made yet another about-face and finally confirmed his willingness to take over the latter.
For your information, the social network is one of the means allowing computer consultants to to find freelance assignments. To search for this type of project, these workers can also use other solutions such as LinkedIn, specialized platforms
Many are concerned about the impact of a potential buyout
Some fear that this transfer may encourage the return of misinformation and abuse on the platform. The CEO of Tesla describes himself as a strong protector of freedom of expression. The billionaire has already warned that he intends to let Internet users express their opinions as they wish. The only limit is the respect of the law .
Elon Musk had also announced in May 2022 to be ready to cancel the ban of Donald Trump on Twitter. This former president of the United States had seen his account suspended in January 2021 after the assault on the U.S. Capitol.
Media Matters for America is expressing its concern about the idea of the social network being bought by the controversial entrepreneur.
The agreement reached on April 25, 2022 providing for to make less strict the moderation and the regulation of the contents that will be posted there.
In detail, Elon Musk proposed to acquire the company headed by Parag Agrawal at the rate negotiated at that time. That is, at 54.20 dollars per share valuing the company at 44 billion dollars. Very hesitant at the beginning, the board of directors had finally accepted this price.
Twitter’s lawsuit has been suspended
Twitter says it was informed of the businessman’s decision and said it still wants to proceed with the sale. However, the company requires the candidate to prove his seriousness in a tangible way after that for several months, it has :
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- Changed my mind many times ;
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- Proclaimed public criticism against the social network.
While Elon Musk has called for a postponement of the trial which targets him, the lawyers of the group opposed it. The judge in charge of the case has finally made a decision in favor of the Tesla boss. She suspended the proceedings until October 28, 2022.
The takeover of the blue bird by the billionaire must be completed by that date at the latest. If no buyout is completed, hearings that were originally scheduled to begin on October 17, 2022 will begin next month .
Elon Musk refrained from explaining the reasons that led him to a new reversal. He only stated in a tweet:
Buy Twitter is a gas pedal to create X, the app for everything.
This platform represents the social network that the entrepreneur plans to build He revealed this project in August 2022 when he was asked about Twitter about the possibility of inventing his own social network.