Since April, the internet is flooded with the news of Elon Musk taking over Twitter. But now the news is official! Elon Musk has finalized the deal with $44 billion and now controls the entire company. After that, every social media platform was roaring with the news; some involved triumph while some showed their despair.
The richest man in the world is now a proud owner of the most influential social media platform.
Along with this new announcement, the businessman has also made some major changes in the company. What are those changes? Read to find out more.
The Changes Made By Elon Musk
The first step taken by Elon Musk was to fire the top officials of the company. This involved the CEO Parag Agrawal, CFO Ned Sehgal, and Policy Chief Vijaya Gadde. According to a source, Musk has also fired the general counsel of Twitter – Sean Edgett.
Earlier, there was a spectrum of doubt hanging over the shareholders, employees, and the entire business of the company. But on Thursday, Musk announced the decision by sharing a tweet saying “the bird is freed”.
Before the decision was announced, a trial was about to take place between the company and the Tesla owner. But now that Elon Musk has fired the top executives, the focus has shifted to the future of Twitter and how it will impact different corners of society.
As Musk has implied, he is working towards changing the content moderation policies of Twitter. His aim is to promote free speech on the Twitter platform. He even disagrees with the ongoing practice of banning accounts that repeatedly violate Twitter rules and policies. So, if Elon takes an action, the permanently banned accounts may come back on the platform.
This action also expects Elon’s influence over how social media works. A lot of people are also waiting to see whether the ban would be removed from Donald Trump’s account. If that happens, it can cause a major effect on the 2024 presidential campaign and the US mid-term elections that are about to begin.
If these steps are taken, Elon Musk would alone be the reason for a drastic change in the political and media ecosystems. He will enable the resource of online public disclosure and shake the conservative dependency on social media platforms.
Before finalizing the deal, the new Twitter owner visited the headquarters in San Francisco and meet the existing employees. There was also an open letter received by Twitter advertisers that he has no intentions of turning this platform into a space where anyone can say anything without any consequences.
Elon Musk is already a billionaire and holds significant stakes in several renowned companies. He has also taken a front seat in several experimental ventures, including brain implants. Now if he has taken a hold of Twitter and his influence would be tremendous. The businessman would control how billions of people communicate on Twitter and receive their news.
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What’s in Store for Twitter Now?
Now that Elon Musk has stirred enough news, he officially owns Twitter. What is next for this social media platform?
He hasn’t only removed the top officials of the company but also discussed that the former CEO Jack Dorsey might bring some new measures for the company. Although Dorsey has neither confirmed nor denied this return to Twitter, he has discussed the matter of takeover with Elon and offered advice.
According to the reports, Elon Musk has also discussed with Twitter investors that approximately 75% staff of the company would be removed. Earlier, he also discussed this matter with his friends over personal messages.
What’s the fate of this social media platform? We are yet to see it!
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