TWITTER BOARD ENDORSES ELON MUSK’S $44 BILLION DEAL
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Agency Report
The proposed $44 billion sale of Twitter to billionaire and Tesla CEO Elon Musk has been approved by Twitter’s board of directors.
According to ABC News, this was revealed in a regulatory filing on Tuesday.
According to AFP, Musk said Tuesday that his $44 billion takeover bid for Twitter was hampered by “quite big” issues about the number of fraudulent users on the social media platform.
When asked about the agreement during the Qatar Economic Forum, Musk declined to comment, claiming it was a “sensitive” topic.
“A few issues remain unresolved,” Musk remarked via video link.
Most people’s experience with Twitter is probably not like this.
This includes whether “the number of bogus and spam users on the system is fewer than 5% as they claim,” which I believe is not the case for most people who use Twitter.
“So we are still awaiting resolution on that topic, which is a very major matter,” said Elon Musk, CEO of Tesla and SpaceX.
There are also concerns about Twitter’s debt and whether shareholders would approve the deal, according to Musk.
“I believe these are the three issues that must be resolved” in order for the transaction to go through.
Musk stated that his goal was to have 80 percent of North Americans and half of the world’s population using Twitter.
“That means it must be something that is appealing to people, it obviously can’t be a place where they feel uncomfortable or harassed or they will simply not use it.”
“I think there is this big difference between freedom of speech and freedom of reach,” Musk added.
“You are allowed to yell whatever you want in a public space, more or less. But whatever you say, however controversial, doesn’t need to then be broadcast to the whole country.
“So I think generally the approach of Twitter should be to let people say what they want within the balance of the law but then limit who sees that based on any given Twitter user preferences.”
If the transaction goes through, he says his role will be to “drive the product,” similar to what he did at Tesla and SpaceX.
Musk predicted that Tesla’s employment count would drop by roughly 3.5 percent in the next three months, but that it would begin to rise again in a year.
When asked who he would support in the 2024 US presidential election, Musk stated he had not made up his mind but was willing to put $20–$25 million into a candidate’s campaign.
He has previously stated that he might vote for Florida Governor Ron DeSantis, a Republican.
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