Tesla chief executive will gain control over social network he has criticized over its handling of ‘free speech’
The company, which launched in 2006, currently has a market cap of nearly $40bn. Its co-founder Jack Dorsey stepped down as chief executive officer in November 2021, handing the reins to Agrawal, the company’s former chief technology officer.as early as 2017 expressing interest in buying the company. He has signalled that Twitter needs to be transformed as a private company in order to build trust with users and do better at serving what he calls the “societal imperative” of free speech.
The deal is not expected to face serious scrutiny from US competition authorities because Musk’s other major business interests – Tesla, an electric car company, the SpaceX rocket business, and the tunnelling firm the Boring Company – do not compete with Twitter.It is, however, likely to draw comment from politicians and campaigning bodies given Twitter’s influence as an information source and Musk’s stance on free speech.
Speculation has already begun as to whether Musk will reinstate high profile accounts that have previously been removed for violating community guidelines, including that of Donald Trump. Trump was permanently banned from Twitter in 2021 for his use of the platform to incite unrest at the US capitol.
Trump has so far said he would not return to Twitter if his account were reinstated, telling Fox News on Monday: “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,” a reference to hisSuzanne Nossel, chief executive officer of PEN America, a non-profit organization that works to protect freedom of expression in the US, and a member of the Facebook Oversight Board, warned Musk against indulging in a “fantasy” of dismantling...
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Twitter ‘in takeover talks with Elon Musk’ after pressure from shareholdersCompany negotiating with Tesla CEO, say sources, after he wooed investors with details of his $43bn offer
Read more »
Twitter ‘in takeover talks with Elon Musk’ after pressure from shareholdersCompany negotiating with Tesla CEO, say sources, after he wooed investors with details of his $43bn offer
Read more »
Puzzle over Elon Musk Twitter plan after cryptic ‘moving on’ tweetEnigmatic post from Tesla billionaire comes after he said he had $46.5bn in financing to fund possible hostile Twitter takeover
Read more »
Elon Musk to buy Twitter for $61 billionThe deal will end Twitter’s run as a public company since its 2013 initial public offering.
Read more »
Elon Musk lands deal to take Twitter privateInvestors will receive $US54.20 for each Twitter share they own in one of the biggest leveraged buyout deals in history.
Read more »
Elon Musk lands deal to take Twitter privateInvestors will receive $US54.20 for each Twitter share they own in one of the biggest leveraged buyout deals in history.
Read more »