The weeks long game of whether Twitter will be sold to Elon Musk has concluded with Musk now the owner of Twitter.
The acquisition sees Musk paying $54.20 per share for a total of $44 billion to take Twitter private. Ultimately, this means Musk has paid 38 percent more per share than he did when disclosed his 9 percent stake in the social network.
“The Twitter Board conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing. The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter’s stockholders,” explained independent board chair for Twitter Bret Taylor.
The looming question now however is what will happen to Twitter under new management?
To that end Musk gave users a glimpse at what could be coming in future but didn’t elaborate.
🚀💫♥️ Yesss!!! ♥️💫🚀 pic.twitter.com/0T9HzUHuh6
— Elon Musk (@elonmusk) April 25, 2022
For one, Musk wants to make Twitter’s algorithms open-source, a move that seems to be driven by the European Union’s plans to understand how the big tech sausage is made via the Digital Services Act. One of the aspects the union wants made clearer is how algorithms work so Musk’s statement seems like a pre-emptive nod to acknowledge the firm will comply.
Spam bots are also a target for Musk but how he plans to tackle this problem is unclear.
What has piqued our interest is Musk’s promise to “authenticate all humans”. While this bleeds into tackling spam bots, we are curious what this means for folks who operate multiple Twitter accounts.
For the most part, we don’t anticipate much will change as regards Twitter. That having been said, we also don’t really know what Musk is planning to do because most of the insight we get is via memes and cryptic messages.
Twitter is expected to release its financial results at the end of this week and we’re incredibly curious to see what Elon Musk has just purchased from a financial stand point.
It also stands to be seen how many users now vacate and join the social network given Musk’s reputation.