Once considered a long shot, Elon Musk’s offer to purchase Twitter has been approved. It is estimated that the billionaire would pay $44 billion for the business, which will be completed this year.
Tesla and SpaceX are already under the leadership of Elon Musk, who is also the CEO of both companies. As news spread that Twitter and a third party were close to a deal, Twitter’s stock price rose sharply early on Monday.
What Are Elon Musk’s Plans For Twitter?
Some of Musk’s proposals include the following:
On the site, which he regards as a crucial platform for expressing one’s views, Musk has stated that he wants to foster free and open communication.
Musk has stated that he wants to make Twitter’s algorithm more transparent, including allowing users to see if their tweets have been boosted or de-promoted by the algorithm.
Investors have always been wary of Twitter’s revenue growth. Revenue climbed 22% to $1.6 billion in the fourth quarter of 2021, less than planned.
However, daily active users climbed by 25 million to 217 million, with 315 million expected by year’s end. Musk hinted about removing ads from the platform’s premium version, Blue, which is available in the US and Australia but not the UK.
Twitter’s ad revenue is $5 billion (£3.8 billion), therefore Musk was pondering a major change.
Blue users have a 60-second grace period after submitting a tweet to erase a hasty message. Twitter will alter under Elon Musk’s ownership, and an edit button is one of the ideas being considered.
Musk hinted at implementing the functionality in a flurry of tweets following his 9.2% stake announcement.