Elon Musk’s Twitter revolution: Rebellious staff claim their new boss is ‘dangerous for democracy’ | #daitngscams | #lovescams


Twitter has blocked its developers from making changes to the app to prevent it being sabotaged by left-wing staff angry at Elon Musk’s $44billion takeover – amid an outbreak of hysteria among liberal social media personalities who are threatening to quit the social media giant.  

The Tesla founder said he wanted to re-establish the principle of free speech on the platform and has joined criticism of its moderation policies which are accused of disproportionately targeting conservative voices, but his critics claim he will allow ‘hate to flourish’. 

Twitter has now banned any product updates that are not ‘business-critical’, with the company’s vice-president required to give approval for any to go ahead. The move aims to prevent angry staff from ‘going rogue’, a source told Bloomberg, and comes after employees dismissed Musk as ‘dangerous to democracy’. 

Twitter shares dropped 1.72% in early trading on the NASDAQ today to reach $50.81, after surging from $45 when Musk submitted his initial bid to buy the company on April 14. 

The deal is set to be completed in six months, with staff told their jobs are only guaranteed up to that point but ‘no layoffs are planned’ at the social media platform, which is highly influential among media circles despite having a smaller user base than Facebook. 

It comes as actress Jameela Jamil led the charge of left-leaning celebrities announcing they would abandon Twitter after Musk’s purchase, declaring that she would no longer be tweeting because his ‘free speech bid’ would end in ‘lawless hate, bigotry and misogyny’. 

Rob Reiner, star of 1970s sitcom All In The Family, said he feared ‘criminal’ Mr Trump would now have his account reactivated, although the former president has ruled out a return and says he will stay on his own ‘TRUTH Social’ platform. 

While actress turned left-wing activist Mia Farrow said she may leave the app ‘for peace of mind’ and Democrat US senator Elizabeth Warren described the deal as ‘dangerous for democracy’. 

Human rights groups also raised concerns about the deal, with Amnesty International saying it was concerned about any potential decision that Twitter may take after Musk’s takeover to take a laxer approach to tackling hate speech. 

Anthony Romero, executive director at the American Civil Liberties Union (ACLU), said while he acknowledged the tycoon was a ‘card-carrying member’ of his organisation, ‘there is a lot of danger having so much power in the hands of any one individual’. 

Meanwhile, left-leaning California-based employees bombarded the site and internal message boards with attacks on Musk, and raised fears they would now be forced to stop working from home under the new regime. 

Among those whining about the takeover was software engineer Addison Howenstine, who tweeted using asterisks to make the post harder to search for. 

He wrote: ‘POV: You asked me why El*n M*sk is buying 9.2% of Tw*tter and getting a board seat is bad and I’m explaining why this was clearly not his end goal and things will certainly get worse and potentially be dangerous for democracy and global affairs.’ 

Musk’s purchase will see substantial changes, with the self-described ‘free speech absolutist’ expected to take a more permissive approach to moderation after a series of scandals including the platform’s decision to bury a story about Hunter Biden’s infamous laptop. 

Twitter initially froze the New York Post’s main account after it published the story and demanded it delete tweets linking to the Biden articles. It initially justified the ban by citing a prohibition of distributing hacked material, before backing down when the story was proven to be legitimate. 

Musk has also suggested Twitter – which will now move off the New York Stock Exchange – could move towards a subscription-based model and a shift away from advertising which currently generates 90% of its overall revenue.

The world’s richest man Elon Musk last night secured a blockbuster £34billion deal to buy Twitter in one of the most dramatic takeovers in corporate history 

Jamil said she would no longer be tweeting because his 'free speech bid' would end in 'lawless hate, bigotry and misogyny'

Jamil said she would no longer be tweeting because his ‘free speech bid’ would end in ‘lawless hate, bigotry and misogyny’ 

Twitter staff immediately began complaining about Musk's takeover, including software engineer Geraint Davies

Twitter staff immediately began complaining about Musk’s takeover, including software engineer Geraint Davies 

Chloe Barnes, Twitter's lead for global curation standards, added: 'Totally understand that this is entertainment for some. But please know that this is certainly not entertainment for me'

Chloe Barnes, Twitter’s lead for global curation standards, added: ‘Totally understand that this is entertainment for some. But please know that this is certainly not entertainment for me’ 

Musk tweeted last night: ‘I hope that even my worst critics remain on Twitter, because that is what free speech means.’

Twitter shares dropped 1.72% in early trading on the NASDAQ today to reach $50.81, after surging from $45 when Musk submitted his initial bid to buy the company on April 14

Twitter shares dropped 1.72% in early trading on the NASDAQ today to reach $50.81, after surging from $45 when Musk submitted his initial bid to buy the company on April 14

But actress Jameela Jamil, 37, said she wasn’t having it. ‘Ah he got twitter,’ she said.

‘I would like this to be my what lies here as my last tweet. Just really *any* excuse to show pics of Barold,’ she added, attaching a photo of the poodle mix she shares with her boyfriend, musician James Blake.

‘I fear this free speech bid is going to help this hell platform reach its final form of totally lawless hate, bigotry, and misogyny. Best of luck.’ 

Jamil has since been widely-mocked by people in her replies claiming that she’s far too much of an attention-seeker to stay off the platform.

How Musk will put his mark on Twitter: New boss wants to ditch ads in favor of subscriptions, introduce longer tweets, turn HQ into homeless shelter, fire woke staff and kill bots 

By James Gordon for Dailymail.com 

Elon Musk’s purchase of Twitter will see substantial changes implemented on the social media platform with everything from longer tweets and paid subscriptions using ‘joke’ cryptocurrency Dogecoin all within the realm of possibility.

Musk is said to favor temporary ‘timeouts’ for users who break the new rules, rather than permanent bans such as those given to Donald Trump.

Details of his immediate plans are slim, but the Tesla chief portrays himself as a free-speech absolutist.

Other mooted changes include blue verification checkmarks for anyone who subscribes to Twitter’s premium Blue service, which costs $2.99 a month.

Musk is said to favor a subscription-based model over advertiser funding, as it would make Twitter less beholden to advertiser pressure. He has even suggested users could pay with cryptocurrency, including joke currency Dogecoin which Musk has long had an affection for.

He’s also likely to fire many of the firm’s woke staff. Workers have been told the transfer of ownership will last around six months, after which Musk is likely to wield the ax.

The firm’s downtown San Francisco could also be turned into a homeless shelter at Musk’s behest, with the California city engulfed by one of the worst homelessness crisis in the United States. 

Musk has also teased at other new features including an ‘edit’ button to adjust previously posted tweets and also making the platforms algorithms ‘open source to increase trust, defeating the spam bots and authenticating all humans.’

That would enable people to see exactly why Twitter had chosen to make some tweets more visible to users than others.

A top priority for Musk is to eliminate ‘bots’ which frequently generate spam and run scams. 

The View’s Sunny Hostin also attacked Musk’s emphasis on free speech, suggesting that he was only interested in protecting the ‘free speech of straight white men’. 

All In The Family star Rob Reiner, star of 1970s sitcom All In The Family, said he was troubled by the possible return to Twitter of Donald Trump under Musk’s leadership.

‘Now that Elon Musk is buying Twitter, the question for all of us is: Will he allow a Criminal who used this platform to lie and spread disinformation to try to overthrow the US Government to return and continue his Criminal activity?

‘And if he does, how do we combat it?’

Reiner appeared to be referring to Donald Trump, who was banned by Twitter in January 2021 after being accused of stoking the Capitol riot. Many left-wing tweeters fear Musk’s purchase of the firm could spell the return of Trump. 

Actress turned activist Mia Farrow tweeted: ‘Well if Twitter becomes even more toxic- with Trumpy-treasonous lies & all the hatred- it will be taken less seriously, and people like me will quit – for peace of mind’. Amid a backlash from Twitter users, one critic said: ‘Do people who quit Twitter over Elon Musk HAVE TO tell everybody? Can’t they just leave?’ 

Star Trek actor George Takei also voiced his fears over Musk.

But he said he was not quitting Twitter, because giving a greater platform to extremists meant that moderates like him were even more important.

‘I’m not going anywhere,’ the 85-year-old tweeted. 

‘Should this place become more toxic, I pledge to strive even harder to lift up reason, science, compassion and the rule of law. The struggle against fascism, misinformation, and hate requires tough fighters. 

‘I hope you stay in the fight, right beside me.’

He joked that Musk was setting himself up for a challenge.

‘The problems Elon Musk will face as the owner of a social media company will make him accelerate his Mars escape plans considerably,’ he added.

MSNBC host Joy-Ann Reid was her usual cynical self while responding to Musk’s request for his detractors to stay and debate.

She declared: ‘Translation: if his worst critics leave, Twitter will be as worthless as Gab, Gettr (lol) and Truth Social. 

‘He needs y’all to stay on here so his ‘free speech’ people can harass you for fun. 

‘Because dude does not ALWAYS believe in free speech…’  

London Mayor Sadiq Khan made his views clear this morning, with a pointed tweet insisting that ‘free speech does not mean a pass for hatred’ and urging social media companies to ‘do more, not less’ to moderate their platforms. 

Meanwhile, Leslie Miley, a former Twitter employee who has also worked for Google and Apple. Miley, said that Twitter was going ‘going to let a man-child essentially take over their platform’. 

Gerard Taylor, a senior software engineer, was conflicted: 'My current sentiment: Stock is up! YAY! But what about our company culture?'

Gerard Taylor, a senior software engineer, was conflicted: ‘My current sentiment: Stock is up! YAY! But what about our company culture?’

Addison Howenstein's LinkedIn page

Addison Howenstine complaining tweet

Software engineer Addison Howenstine claimed Musk’s takeover of his employer posed a threat to democracy

REVEALED: Stories Twitter has censored  

HUNTER BIDEN’S LAPTOP  

In the run-up to the 2020 presidential election, Twitter locked The New York Post out of its account after the newspaper shared a series of stories based on files found in a laptop abandoned at a computer store in Delaware by the president’s son. 

The device contained a raft of compromising material, including a now infamous photo of Hunter lying in bed with a crackpipe in his mouth, and references to ‘big guy’ Joe Biden as a potential 10% owner in Hunter’s joint venture with Chinese oil giant CEFC. 

At the time, Twitter said The Post violated the company’s policies on sharing ‘hacked materials’ and demanded six tweets linking to Post stories be deleted.

DailyMail.com later independently authenticated material from the laptop. 

Twitter eventually backed down after the Newscorp-owned New York City tabloid refused to remove the offending tweets.

In March, when he testified before Congress, the social media giant’s then CEO Jack Dorsey said it was a ‘total mistake’ to prevent users from sharing The Post’s Hunter Biden stories.

Former White House Press Secretary Kayleigh McEnany saw her Twitter account locked when she attempted to share the Post’s Hunter Biden story. 

Media outlets were also targeted, including the New York Post, The Washington Free Beacon, the Federalist and The Babylon Bee – a satire site.

WUHAN LAB LEAK THEORY 

Twitter suspended the account of a Chinese virologist who publicly claimed Covid was developed in a Wuhan laboratory.

Li-Meng Yan’s account was taken down in September 2020 after she accused China of intentionally manufacturing and releasing COVID-19.

Twitter did not comment on the suspension of Yan’s account. The social media giant started putting warning messages on tweets that contained disputed coronavirus claims in May 2020. 

Last year, MailOnline asked Twitter whether it would censor the theory that Covid may have leaked out of a lab in Wuhan – after fellow social media giant Facebook U-turned on its ban after a wave of political pressure.

MailOnline contacted Twitter last night to ask if it would permit debate about the hypothesis, which had been dismissed as a conspiracy theory by Facebook and left-leaning media prior to the announcement of the US probe.

A spokesman responded by stating the network’s policy that it would take action against ‘false or misleading’ claims that posed ‘a significant risk of harm’.

When asked specifically whether it considered the Wuhan lab theory to count as ‘false or misleading’, the spokesman did not provide a yes or no answer but repeated the general policy.

Twitter also states in its official guidelines that it would take action against accounts that aired suggestions that the pandemic was being influenced by ‘malicious or powerful forces’. It did not clarify if it believed the theory of Covid being man made fell into this category.     

Talks between Musk and Twitter began on Sunday and ended yesterday, with the social media site’s board saying a sale to Musk was the ‘best path forward’.

Twitter initially tried to block the deal, vowing to implement a so-called poison pill, but it is understood the 11-strong board was swayed by Musk’s unveiling of financing last Thursday.

The deal will see the South African entrepreneur take the social media giant off the New York Stock exchange and overhaul its policies on free speech.

As the takeover was announced, he said: ‘Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated.’

The takeover has been a rollercoaster ride and taken less than two weeks to play out, and will go down as one of the most dramatic deals in US corporate history. In New York last night, Twitter shares were up more than 6 per cent at $52 (£41) after Twitter agreed to the takeover.           

Twitter staffers have made no bones about the fact that they’re not thrilled with Musk’s takeover, with conservative journalist Andy Ngo tweeting several complaints and gripes from staffers hours after the takeover was confirmed.  

Geraint Davies, a senior staff video engineer for Twitter, wrote: ‘Anyone in need of a software engineer with 40 years of experience? Asking for a friend.’

Twitter engineer Jay Holler wrote: ‘For the first time, Twitter leadership includes someone that I had proactively Blocked on this platform.’ 

Gerard Taylor, a senior software engineer, was conflicted: ‘My current sentiment: Stock is up! YAY! But what about our company culture?’ 

Chloe Barnes, Twitter’s lead for global curation standards, added: ‘Totally understand that this is entertainment for some. But please know that this is certainly not entertainment for me.’ 

Cassie Nick Rumbaugh, a data scientist, bemoaned Musk’s alleged transphobia and wrote: ‘I’m honestly kinda terrified rn.’      

Twitter founder Jack Dorsey, to the contrary, found the takeover from Musk to be exciting news.

After posting a Spotify link to the Radiohead song ‘Everything in it’s Right Place,’ Dorsey elaborated on his thoughts. 

‘I love Twitter. Twitter is the closest thing we have to a global consciousness. The idea and service is all that matters to me and I will do whatever it takes to protect both. 

‘In principle, I don’t think anyone should own or run Twitter,’ he added. ‘It wants to be a public good at a protocol level, not a company. Solving for the problem of it being a company however, Elon is the only solution I trust.’

He said that Musk’s goal of ‘creating a platform that is maximally trusted and broadly inclusive is the right one.’

‘I’m so happy Twitter will continue to serve the public conversation. Around the world and to the stars!’ 

Staff have been told that their jobs are safe for at least six months until Musk takes over.

CEO Parag Agrawal and Bret Taylor, the chair of the board, addressed staff at 5pm ET on Monday – dodging questions about whether Donald Trump would be allowed to rejoin, and saying instead that it was a question for Musk.

‘It’s important to acknowledge that all of you have many different feelings about what is happening,’ Agrawal said, according to two people who attended the meeting and spoke to The New York Times. 

London Mayor Sadiq Khan made his views clear this morning, with a pointed tweet insisting that 'free speech does not mean a pass for hatred'

London Mayor Sadiq Khan made his views clear this morning, with a pointed tweet insisting that ‘free speech does not mean a pass for hatred’

‘Some of you are concerned, some are you are excited, and some of you are waiting to see how this goes. I know this affects all of you personally.

‘It is an emotional day, and I just want to acknowledge it.’

Concerns about immediate job losses were allayed, with employees told that business will operate as usual until a deal closes in next six months, Bloomberg’s Kurt Wagner reported. 

Cancellations, ‘shadow bans’ and THAT notorious laptop… Twitter’s multiple controversies 

Twitter has been the focus of plenty of scandal over recent years, with its importance among the political and media class usually guaranteeing these make the headlines. 

Here is a runthrough of some of the biggest controversies –  

CANCELLING USERS

Donald Trump is the most high-profile figure to be banned from Twitter after he was accused of inciting a mob to storm the US Capitol in January 2021, but a raft of other users have also found themselves barred. 

Infowars host Alex Jones was banned for abusive behaviour, including spreading vile conspiracy theories about 9/11 and the Sandy Hook shootings which killed 20 schoolchildren, claiming their deaths were a ‘giant hoax’. 

Fox News host Tucker Carlson was suspended from the platform last month after Twitter determined he violated its rules by referring to Assistant Secretary of Health Dr. Rachel Levine, who is a transgender woman, as a man. He returned to Twitter just hours after Musk’s deal was announced, with the presenter tweeting ‘we’re back!’ to announced his return. 

Other people who have found their accounts suspended include right-wing provocateurs Milo Yiannopoulos, Jacob Wohl and Tim Gionet, better known by his online name ‘Baked Alaska’. 

Donald Trump’s former chief strategist Steve Bannon has also has his account suspended, as has Republican strategist Roger Stone and former Ku Klux Klan leader David Duke. 

… WHILE ALLOWING THE TALIBAN TO STAY  

Twitter generated huge controversy by announcing its decision to allow Taliban officials to continue tweeting, despite the group being responsible for numerous atrocities. 

The move was in stark contrast to the company’s Big Tech rivals. Facebook, WhatsApp and Instagram (both owned by Facebook), TikTok and YouTube have all banned and terminated accounts that are related to, promote or praise the Taliban. 

Twitter said in a statement that it would ‘continue to proactively enforce our rules and review content that may violate Twitter rules, specifically policies against glorification of violence, platform manipulation and spam.’

The social media giant used this justification to permanently ban Donald Trump after the January 6 Capitol Riot, causing cries of censorship from Trump supporters.   

‘SHADOW BANNING’ 

Twitter and other social media sites have long been accused of ‘shadow-banning’ prominent users whose views they deem ‘harmful,’ making it harder for users to find their profiles, or see their posts.

Earlier this month, Caitlyn Jenner claimed she had been shadow banned after joining Fox news as a contributor, with her engagement from followers dramatically decreasing after she announced the move. 

The trans ex-Olympian said it was proof that Twitter and other woke big tech companies no longer foster free speech and open debate, but squash conservative voices they do not agree with – like hers. 

Donald Trump Jr has also claimed to have been a victim of shadow banning, although Twitter vehemently insists it does not pursue the practice. 

SUPPRESSING STORIES

Hunter Biden’s laptop  

In the run-up to the 2020 presidential election, Twitter locked The New York Post out of its account after the newspaper shared a series of stories based on files found in a laptop abandoned at a computer store in Delaware by the president’s son. 

The device contained a raft of compromising material, including a now infamous photo of Hunter lying in bed with a crackpipe in his mouth, and references to ‘big guy’ Joe Biden as a potential 10% owner in Hunter’s joint venture with Chinese oil giant CEFC. 

At the time, Twitter said The Post violated the company’s policies on sharing ‘hacked materials’ and demanded six tweets linking to Post stories be deleted.

DailyMail.com later independently authenticated material from the laptop. 

Twitter eventually backed down after the Newscorp-owned New York City tabloid refused to remove the offending tweets.

In March, when he testified before Congress, the social media giant’s then CEO Jack Dorsey said it was a ‘total mistake’ to prevent users from sharing The Post’s Hunter Biden stories.

Former White House Press Secretary Kayleigh McEnany saw her Twitter account locked when she attempted to share the Post’s Hunter Biden story. 

Media outlets were also targeted, including the New York Post, The Washington Free Beacon, the Federalist and The Babylon Bee – a satire site.

Wuhan lab leak theory

Twitter suspended the account of a Chinese virologist who publicly claimed Covid was developed in a Wuhan laboratory.

Li-Meng Yan’s account was taken down in September 2020 after she accused China of intentionally manufacturing and releasing COVID-19.

Twitter did not comment on the suspension of Yan’s account. The social media giant started putting warning messages on tweets that contained disputed coronavirus claims in May 2020. 

Last year, MailOnline asked Twitter whether it would censor the theory that Covid may have leaked out of a lab in Wuhan – after fellow social media giant Facebook U-turned on its ban after a wave of political pressure.

MailOnline contacted Twitter last night to ask if it would permit debate about the hypothesis, which had been dismissed as a conspiracy theory by Facebook and left-leaning media prior to the announcement of the US probe.

A spokesman responded by stating the network’s policy that it would take action against ‘false or misleading’ claims that posed ‘a significant risk of harm’.

When asked specifically whether it considered the Wuhan lab theory to count as ‘false or misleading’, the spokesman did not provide a yes or no answer but repeated the general policy.

Twitter also states in its official guidelines that it would take action against accounts that aired suggestions that the pandemic was being influenced by ‘malicious or powerful forces’. It did not clarify if it believed the theory of Covid being man made fell into this category.       

Staff were told there would be no layoffs ‘at this time’ – but no guarantees were provided when Musk takes over.

But in a sign of the possible internal unrest, new product launches were delayed amid fears, Bloomberg speculated, that employees could ‘go rogue’ and ‘push something or mess with the product on the way out the door.’ 

Ahead of the meeting, staff were asked to submit questions, and many were asking about a possible forced return to the office for the all-remote workforce. Others fretted about their shares, journalist Yashar Ali reported. 

In internal message rooms there was uproar, The New York Times reported.

‘I feel like I’m going to throw up… I really don’t wanna work for a company that is owned by Elon Musk,’ one staffer said, according to their reporter Talmon Smith.

Smith’s source told him that it was ‘absolutely insane’ in the internal chat rooms.

Another Twitter employee reportedly complained: ‘I don’t really know what I’m supposed to do… oh my god, my phone’s been blowing up… We have a meeting about it at 5pm… the CEO is going to address everyone about it (it=elon)’.

‘I hate him, why does he even want this?’

The billionaire agreed to pay shareholders $54.20 in cash for each share of common stock before the bombshell deal was struck.

The move shifts control of the social media platform populated by millions of users and global leaders to the world’s richest person.

Musk vowed to protect free speech on Twitter, ‘defeat the spam bots’ and ‘authenticate all humans’ as he welcomed the acquisition.

Within the company, there was turmoil at the announcement.

‘I feel like he’s this petulant little boy and that he’s doing this to troll…he doesn’t know anything about our policies and what we do… his statement about our algo was f****** insane… 

‘Were just gonna let everyone run amok?… nobody knows,’ the employee said, according to the New York Times.

Some Twitter staff were ‘openly rebelling’ against Musk, one observer noted, posting a screen shot of Twitter’s official Github site and posting a public response entitled ‘The Algorithm’, with zero code.

Ali, meanwhile, reported that many of the staff’s concerns related to their perks rather than the direction of the platform.

‘Lots of questions about work from home…Twitter has become a permanent work from home option company and there are concerns about @elonmusk’s statements/actions in the past about work from home and whether that will continue when he takes over,’ Ali tweeted.

‘Understandably lots of questions about what this sale will mean for employee stock options/grants. Someone asks if any employee protection measures were negotiated as part of this deal. Another person asks if this means there will be a hiring freeze until the deal closes.’ 

Other, Ali said, asked if there was a ‘go shop clause’ – essentially a provision that would allow the Twitter board to seek an alternative offer before the agreement was completed.

Others wanted to understand how the process had unfolded.

‘Another Twitter employee asks: ‘how did we go from poison pill to this so quickly?”

Last month the tech giant announced it was reopening its offices around the world, but in the same statement, which called staff Tweeps, Agrawal said no-one had to go back in if they chose not to.

‘As we open back up our approach remains the same,’ Agrawal said.

‘Wherever you feel most productive and creative is where you will work and that includes working from home full-time forever.

‘Office every day? That works too. Some days in office, some days from home? Of course. That’s actually how most of you feel.

‘Details on logistics, dates, safety message measures, and how we work will be coming soon from Pat and Tracy to whom I am deeply grateful, along with the amazing cross functional team that carried us through the past two years.

‘And thank you to the tweeps who have in office roles, like our data centres, who have been coming into work for the past two years and continue to show up for us and our customers every single day. We appreciate you.

‘I look forward to seeing you all back at the office or perhaps at an event, somewhere in your home city, or mine? Can’t wait.’

Twitter was one of the first in the tech business to urge employees to work remotely when the coronavirus first emerged in the US in mid-March 2020.

It is unclear if Agrawal addressed the remote work setup on Monday.

But he told employees that their stock options would convert to cash when the deal with Musk closes, which he estimated would take three to six months.

According to The New York Times, he also said that they would continue to receive bonuses according to Twitter’s vesting schedule. 

Employees would receive their same benefits packages for a year after the deal was finalized, Agrawal added. 

He said he would try and arrange a staff forum with Musk, and said that he would remain at the company as CEO, at least until the deal was finalized.

‘He wants Twitter to be a powerful, positive force in the world, just like all of us,’ Agrawal said of Musk. 

‘He believes Twitter matters.’

He urged employees to ‘operate Twitter as we always have,’ adding that ‘how we run the company, the decisions we make and the positive changes we drive — that will be on us, and under our control.’ 

Earlier the 50-year-old tycoon called for his ‘worst critics’ to remain on the platform because ‘that is what free speech means’.

Despite recent speculation, former President Donald Trump confirmed he would not be rejoining the site even if Musk allowed him to – saying he would continue to use his own TRUTH Social.  

He told Fox News earlier: ‘I am not going on Twitter, I am going to stay on TRUTH.

‘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.’

He added: ‘We’re taking in millions of people, and what we’re finding is that the response on TRUTH is much better than being on Twitter.

‘Twitter has bots and fake accounts, and we are doing everything we can. The bottom line is, no, I am not going back to Twitter.’  

Elon Musk’s attempted hostile takeover of Twitter timeline:

  • January 31: Musk starts buying Twitter shares ‘almost daily’
  • April 4: The billionaire reveals he has a nine per cent stake in the tech giant
  • April 5: Twitter offers him a seat on the board of directors – as long as he does not own more than 14.9 per cent. He initially accepts the offer
  • April 8: Vanguard Group reveals it has a larger, 10.3 per cent, stake in Twitter, meaning Musk is no longer largest shareholder
  • April 9: Musk rejects seat on Twitter’s board on the day he is meant to join
  • April 10: CEO Agrawal announces Musk declined to join the board in a statement
  • April 12: Investor Marc Bain Rasella files lawsuit against Musk in NYC over ‘failing to report his Twitter share purchases to the SEC’ in time
  • April 14: The Tesla founder offers to buy Twitter for $43 billion
  • April 14: Twitter stocks plummet after hostile takeover bid
  • April 15: Twitter board mounts a ‘poison pill’ strategy against Musk
  • April 16:  Musk tweets ‘Love Me Tender’ as he again teased at the possibility of a hostile takeover of Twitter
  • April 17: Musk agreed with a tweet saying the ‘game is rigged’ if he can’t buy Twitter
  • April 18: Jack Dorsey has slammed the board of Twitter for ‘plots and coups’ that were ‘consistently the dysfunction of the company’ 
  • April 18: The social media giant files its ‘poison pill’ defense with the Securities and Exchange Commission
  • April 21: Musk files SEC document unveiling how he will fund takeover bid
  • April 24: Must tweets ‘moving on’ in reference to poking fun at Bill Gates
  • April 24: Twitter announces it is re-examining Musk’s $43 billion bid to buy the company

Twitter CEO Parag Agrawal said he was ‘proud of our teams and inspired by the work that has never been more important’ after announcing Musk would take the company private.

And Chairman Bret Taylor said ‘we believe it is the best path forward for stockholders’, adding the board had ‘conducted a thoughtful and comprehensive process to assess Elon’s proposal’.

Musk committed $21billion of his own money in the form of equity, $13billion from Morgan Stanley in debt facilities and another $12.5billion from the bank and others in margin loans.

But ‘a portion’ of his shares in Tesla have been put forward as collateral, which analysts feared could have a huge impact on the firm.

Shares in the electric vehicle manufacturer slid more than two per cent immediately following news of Musk’s acquisition of Twitter – a sign that experts say may signal shareholder worries that the technology tycoon is stretching himself too thin.

Under the terms of Musk’s agreement with Twitter, stockholders will receive $54.20 in cash for each share of common stock they owned when the deal was struck.

It represents a 38 per cent premium to Twitter’s closing stock price on April 1 – the last trading day before Musk said he had taken on a 9 per cent stake.

The deal was cemented roughly two weeks after the billionaire first revealed a nine per cent stake in the platform.

Musk said last week he had lined up $46.5billion in financing to buy Twitter, putting pressure on the company´s board to negotiate a deal. 

He had also been meeting with shareholders over the last few days, seeking support for his bid while saying the board had a ‘yes-or-no’ decision to make.

He said the tech giant needed to be taken private to grow and become a genuine platform for free speech.

In an about-turn today, Twitter said the transaction was unanimously approved by its board of directors.

The 11-member board includes Twitter co-founder and former CEO Jack Dorsey, who has been planning to step down from the board in May.

Bosses said the deal is expected to close sometime this year and is subject to the approval of Twitter stockholders and regulators. Shares of Twitter rose six per cent Monday to $52 per share.

On April 14, Musk announced an offer to buy the social media platform for $54.20 per share. 

‘Elon is the singular solution I trust’: Jack Dorsey tweets support for Musk’s takeover bid 

Twitter co-founder Jack Dorsey has welcomed Elon Musk’s takeover of Twitter, describing the South African billionaire as ‘the singular solution I trust,’ and adding: ‘I trust his mission to extend the light of consciousness.’

Dorsey, 45, has long been a supporter of Musk’s and last week condemned the infighting that he said had riven the Twitter board.

A self-professed ‘1/8th hippie’, Dorsey said he had faith in Musk’s promise to make Twitter a bastion of free speech.

‘In principle, I don’t believe anyone should own or run Twitter,’ Dorsey tweeted.

‘It wants to be a public good at a protocol level, not a company.

‘Solving for the problem of it being a company however, Elon is the singular solution I trust. I trust his mission to extend the light of consciousness.’

Dorsey tweeted hours after it was revealed that he is in line to receive a $978 million payout after Musk bought the social media network he created.

He owns 18,042,428 shares in the firm – equivalent to 2.4 per cent of the company – which Musk will now buy for $54.20 each, netting him close to a billion dollars.

 

While the stock is up sharply since he made his offer, it is well below the high of $77 per share it reached in February 2021.

The Tesla tycoon said: ‘Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated.

‘I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans.

‘Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it.’

Twitter Chairman Taylor said: ‘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.’

And CEO Agrawal added: ‘Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important.’

Analysts were split over how the Musk buyout would play out, with some backing the Tesla chief but others erring on the side of caution.

Forrester VP research director Mike Proulx said: ‘In an age fraught with misinformation and disinformation, the parameters around free speech become  murky because algorithms built to promote ‘click-worthy’ content, combined with bots spreading risky content, give disinformation a tailwind.

‘While touted as a battle over ‘free speech,’ this [acquisition] is really a battle around content moderation: Is it responsible or is it censorship?

‘This leads to questions on whether Musk would address disinformation and hate speech on Twitter or enable it to further amplify in the name of ”free speech”.

‘If Musk decides to loosen content moderation policies, he puts Twitter ad dollars at risk. 

Talmon Smith, an economics reporter for the New York Times, said Twitter chat rooms had gone 'insane' after the Musk deal was announced

Talmon Smith, an economics reporter for the New York Times, said Twitter chat rooms had gone ‘insane’ after the Musk deal was announced 

Tesla stock slips 2% after Elon Musk finalizes $44billion Twitter takeover as experts warn he ‘risks stretching himself too far’ with acquisition of yet another company 

Tesla shares slipped more than 2% Monday after Elon Musk finalized a $44 billion deal to purchase social media giant Twitter – a sign that experts say may signal shareholder worries that the technology tycoon is stretching himself too thin.

Experts also suggested the 50-year-old needed to ensure he is not limited to ‘passive management’ at each of the huge companies.

Musk closed in on the deal Monday after a rollercoaster back and forth between the two sides over the last few months.

Tesla stock dropped more than 2% Monday after Elon Musk finalized a deal to buy social media giant Twitter

Tesla stock dropped more than 2% Monday after Elon Musk finalized a deal to buy social media giant Twitter

His representatives were reportedly hammering out terms – including a timeline and fees if an agreement was signed and then fell apart – into the early hours Monday morning.

But experts warned it may ‘prove to be a bridge too far’ for the entrepreneur and feared he may ‘only have hollowed shells of Tesla and SpaceX to return to’.

The drop in share price also came the same day Tesla reported record quarterly earnings.

Tesla shareholders weren’t the only ones to take a hit following the news, either – Digital World Acquisition Corp., the special purpose acquisition company (SPAC) set to merge with former President Donald Trump’s social-media company, Truth Social, fell 15% on Monday as well. 

‘Brands are becoming more conscious of their adjacency to risky content or disinformation, so they may take their dollars to other channels with greater safety measures in place.’

Dan Ives, Managing Director and Senior Equity Research Analyst at Wedbush Securities, said Musk was ‘putting a lot of skin in the game’.

He told DailyMail.com: ‘From the perspective of Wall Street the chances of Musk buying Twitter went from five per cent to 95 per cent because the Street expected the Twitter board to continue fighting the bid or for a second bidder to emerge to challenge Musk.

‘Once that didn’t happen, Twitter had to sit down with Musk because Twitter is a public company and there is a fiduciary responsibility to consider his offer.

‘The situation for Twitter changed once Musk detailed his financing last week. The Twitter board was waiting for a White Knight, private equity investor to step up and match or beat Musk’s bid but that never happened.

‘The ”poison pill” trigger that would have made it financially prohibitive for Musk to increase his stake past 15 per cent was just a move to buy more time.

‘But the White Knight never materialized. Twitter was always a disaster for a private equity investor.

‘These investors want to invest in revenue generating companies and that is not Twitter’s business model. Twitter is a long-term investment.

‘As for Musk, he is putting a lot of skin in the game, but his financing plan does not undermine his control of Tesla or his other companies.

‘Only 10 per cent of his Tesla shares are at play. Plus, Musk just got another $25 billion in Tesla stock so he’s essentially using that as collateral for the Twitter buyout.

‘The real threat to Musk’s existing companies, like Telsa and SpaceX, will be his divided attention if his Twitter deal goes through.’

Bosses rebuffed Musk’s initial April 14 offer after he did not offer information on how he would buy the network. He began to win over shareholders after revealing he had secured financing with the help of Morgan Stanley.

He committed $21 billion in equity, $13 billion from Morgan Stanley in debt facilities and another $12.5 billion from the bank and others in margin loans.

Twitter’s share price rocketed since news of Musk’s purchase of 9.2 per cent of the firm and initial offer, from around $39-a-share to $48.93 when the markets closed.

Earlier Sunday, Musk tweeted he was ‘moving on’ to his more than 83 million followers, leaving many in the lurch as to what he was moving on from.

But he later clarified it was in reference to ‘making fun of [Bill] Gates for shorting Tesla while claiming to support climate change action’. 

Many Twitter shareholders reached out to the firm after Musk outlined a detailed financing plan for his bid on Thursday and urged it not to let a deal slip away. 

Musk’s insistence his bid for Twitter was his ‘best and final’ had emerged as a hurdle in the deal negotiations, sources said.

But Twitter’s board decided to engage with him to gather more information on his ability to complete the deal and potentially get better terms, the sources added.

Last week Musk said ‘all real humans’ on Twitter would be verified if his takeover bid succeeds.

The Tesla and SpaceX CEO tweeted on Thursday if he is able to buy the company he would focus on removing spam from the site.

He posted: ‘If our twitter bid succeeds, we will defeat the spam bots or die trying! And authenticate all real humans.’ 

Authentication on Twitter refers to when the site provides a blue check mark on a user’s handle name.

Former Twitter CEO Jack Dorsey climbs into the back seat after dinner with friends at Nobu in Malibu

Former Twitter CEO Jack Dorsey climbs into the back seat after dinner with friends at Nobu in Malibu

It is generally used by the firm to show public figures’ accounts actually belong to them – and is often seen as a status symbol among users.

Pensions & Investment Research Consultants (Pirc) claimed Musk’s battle to seize control of Twitter could be a distraction from his work at Tesla.

One analyst at Pirc said: ‘This latest episode of the Elon Musk show is a consideration for shareholders of Tesla.

‘Musk is rich, but he does not have unlimited funds, and for his multi-billion bid to come off, it is likely he would need to sell some of his shares in Tesla to finance the deal.

‘And with his time preoccupied running Twitter, a successful acquisition may take Musk’s attention away from the electric car company to the detriment of its operations.

‘That may represent a further investor risk to Tesla shareholders.

‘Even if the bid fails, the fact that the Tesla chief executive seems to be distracted by a social media company may not be seen as a good thing.’

Despite this, Tesla posted record quarterly results on Thursday amid booming demand for its electric cars. The company reported huge revenues of $18.65 billion for the first three months of 2022.

It was 81 per cent higher than a year earlier as profits rose 147 per cent to $5.48 billion. 

The figures came as Tesla delivered a record 310,000 cars in the first quarter.

Shares in Tesla rose four per cent in afterhours trading, having fallen five per cent earlier amid a tech sell-off sparked by dreadful results from Netflix.

The surge in turnover was achieved despite challenges in the supply chain, such as Covid-19 outbreaks and chip shortages.

Tesla’s latest trading update also recognized the increased cost of raw materials for the company.

Tesla shares have risen nearly 1,800 per cent in the past three years, from just over $50 to around $980.

That values the company at over $1trillion – making it worth more than the next 12 largest carmakers combined.

Musk sent shockwaves through the tech world two weeks ago with an unsolicited bid to buy the company.

He said the promotion of freedom of speech on Twitter as a key reason for what he called his ‘best and final offer’.

Meanwhile he teased on Twitter about his plans for the company, apparently referring to a tender offer in a tweet saying ‘Love Me Tender’.

He also appeared to suggest he would banish the board, saying its salary would be $0 ‘if my bid succeeds’.

Musk is the world’s wealthiest person, according to Forbes, with a nearly $279 billion fortune. But much of his money is tied up in Tesla stock – he owns about 17 per cent of the electric car company, according to FactSet, which is valued at more than $1 trillion – and SpaceX, his privately held space company. It is unclear how much cash Musk has.

Musk began making his fortune in 1999 when he sold Zip2, an online mapping and business directory, to Compaq for $307 million.

He used his share to create what would become PayPal, an internet service that bypassed banks and allowed consumers to pay businesses directly. It was sold to eBay for $1.5billion in 2002.

That same year, Musk founded Space Exploration Technologies, or SpaceX, after finding that cost constraints were limiting NASA´s interplanetary travel. The company eventually developed cost-effective reusable rockets.

In 2004, Musk was courted to invest in Tesla, then a startup trying to build an electric car. Eventually he became CEO and led the company to astronomical success as the world´s most valuable automaker and largest seller of electric vehicles.           

Tesla tycoon versus Big Tech: How swashbuckling billionaire Elon Musk fought off ‘poison pill’, lawsuits and hostile board of directors to seal $44bn Twitter takeover

It has been one of the most dramatic takeover attempts in history, seeing a swashbuckling billionaire pitted against one of the largest tech giants in the world.

But Elon Musk’s seizing of Twitter has been a months-long pursuit that has seen him send shockwaves through the world of business.

The Tesla magnate started hoarding shares in the social media firm at the start of the year in an apparent bid to preserve free speech online.

He quickly rocketed to the top of its shareholders’ list, acquiring a huge 9% stake in the tech giant. But he hit choppy waters, rejecting a place on the board, lawsuits and seeing rival companies circle to buy Twitter.

Meanwhile bosses at the social media firm appeared to do all they could to ensure he could not not seize it – even launching a ‘poison pill’ strategy to sink his chances.

Yet Musk brazenly blasted through all the obstacles, punting a $43billion offer earlier this month and showing how he would finance it.

The entrepreneur today pulled off one of the all-time greatest takeovers as his representatives were said to be hammering out terms of an agreement throughout today.

The two sides were reportedly working into the early morning to finalize the ‘fast-moving’ negotiations while sources said the firm had not had any counter offers.

It saw Twitter shares in the US soar by four per cent as the markets opened to $50.84 a share. Today Musk called for his ‘worst critics’ to remain on the platform because ‘that is what free speech means’.

Here, DailyMail.com looks at the rollercoaster journey he has been on over the last few months as he celebrates taking the tech giant private.

January 31: Musk hoards Twitter shares and buys them ‘almost daily’

Musk started buying Twitter stock on January 31 and continued to buy shares during every trading session through April 1, according to an SEC filing.

Just days earlier, he told his 80 million followers on the site he was ‘ giving serious thought ‘ to creating his own social media platform.

A user asked him: ‘Would you consider building a new social media platform, @elonmusk?

‘One that would consist an open source algorithm, one where free speech and adhering to free speech is given top priority, one where propaganda is very minimal. I think that kind of a platform is needed.’

The Tesla and SpaceX CEO replied through his official account: ‘Am giving serious thought to this.’

The billionaire businessman, 50, appeared to be suggesting he was sick of Twitter over the right to freedom of speech.

April 4: Musk says he bought 9.2 percent stake in firm a month earlier

Musk revealed he had purchased a 9.2 percent stake in the social media giant on March 14.

He tweeted ‘oh hi lol’ after the news sent shockwaves through the business world and across social media. He added: ‘Do you want an edit button?’

April 5: He joins Twitter’s board of directors – sees share price rocket

Twitter said the tech tycoon was joining the company’s board of directors, causing the social media platform’s shares to rise over 7 per cent in premarket trading.

It led to speculation he would try to address what he called the platform’s ‘failure to adhere to free speech principles’ and ‘fundamentally undermine democracy’.

Under the terms of the agreement, Musk would have served on the board until the company’s 2024 annual shareholders meeting.

As long as he remains a director, the agreement said, he could not won more than 14.9 percent of the company’s stock.

It meant he would not have been able to take over the company until well after his term on the board was over.

The firm said: ‘Twitter is committed to impartiality in the development and enforcement of its policies and rules.

‘Our policy decisions are not determined by the Board or shareholders, and we have no plans to reverse any policy decisions.’

‘As always our Board plays an important advisory and feedback role across the entirety of our service.

‘Our day to day operations and decisions are made by Twitter management and employees.’ 

 

 

April 8: Asset managers take over Musk as largest shareholders

Asset manager Vanguard Group increased its stake to overtake Musk as the largest shareholder.

Vanguard owned 10.3 percent of Twitter, while the Tesla tycoon owned 9.1 per cent, making him the largest individual shareholder.

Vanguard, led by CEO Tim Buckley, increased its stake in the company at some point during the first quarter, according to SEC filings made on April 8.

It previously reported owning 67.2million shares of Twitter or about 8.4 per cent of the company as of the end of December, according to FactSet.

Other owners of large quantities of Twitter stock included Morgan Stanley, Fidelity and Black Rock.

April 9: Musk rejects the offer to join Twitter’s board of directors

Musk rejected an offer to join Twitter’s board after disclosing his stake in the company.

Analysts said the move signaled his intention to take over the company as a board seat would have limited his stake to just under 15 per cent.

Parag Agrawal said the board would still ‘remain open’ to Musk’s input, but warned: ‘There will be distractions ahead but our goals and priorities remain unchanged.’

He said: ‘The board and I had many discussions about Elon joining the board, and with Elon directly. We were excited to collaborate and clear about the risks.

‘We also believed that having Elon as a fiduciary of the company where he, like all board members, has to act in the best interests of the company and all our shareholders, was the best path forward. The board offered him a seat.’

Agrawal continued: ‘We announced on Tuesday that Elon would be appointed to the board contingent on a background check and formal acceptance.

‘Elon’s appointment to the board was to become officially effective 4/9, but Elon shared that same morning that he will no longer be joining the board.’

April 12: Twitter shareholder Marc Bain Rasella files suit against Musk

Marc Bain Rasella filed a lawsuit against Musk for alleged securities fraud at a Manhattan federal court, according to a Bloomberg report.

The suit claimed the billionaire was required to disclose his holdings to the SEC by March 24, but the delay kept Twitter’s share price down allowing Musk to buy more.

Musk was accused of violating a regulatory deadline to reveal he had accumulated a stake of at least five per cent.

Instead, according to the complaint, Musk did not disclose his position in Twitter until he had almost doubled his stake to more than nine per cent.

That strategy, the lawsuit alleges, hurt less wealthy investors who sold shares in the company in the nearly two weeks before Musk acknowledged holding a major stake.

April 14: The Tesla tycoon offers to buy Twitter for $43 BILLION

Musk offered to buy Twitter for $43billion, a regulatory filing showed, as he moved to seize the social media giant.

Musk’s offer price of $54.20 per share represented a 38 per cent premium to the closing price of Twitter’s stock on April 1.

This was the last trading day before the Tesla CEO’s over nine per cent investment in the company was publicly announced.

It even appeared to reference marijuana – also known as 420 – a common reference used by Musk on Twitter.

Twitter said in a regulatory filing Musk provided a letter containing a proposal to buy the remaining shares of Twitter he did not already own.

April 15: Twitter launches ‘poison pill’ strategy to stop Musk buyout

Twitter’s board announced a dramatic poison pill plan to prevent Musk from increasing his stake in the company.

Also known as a shareholder rights provision, the plan would trigger a dilution of shares if any shareholder builds up a 15 per cent stake without the board’s approval.

The plan did not prevent Twitter from accepting Musk’s offer or entering negotiations with him or other potential buyers.

But it did stop the billionaire from putting pressure on the board by buying up ever more shares on the open market.

Musk hit back with a laughing emoji to a version of the classic ‘Distracted Boyfriend’ meme mocking Twitter’s board.

The imaged depicted ‘Twitter’s board’ looking wistfully at the option to ‘keep that easy gig that gives me shares’ as ‘Twitter investors’ look on with disgust.

April 16: Musk tweets Love Me Tender in tease of hostile takeover

Musk tweeted ‘Love Me Tender’ as he again teased at the possibility of a hostile takeover of Twitter.

The billionaire posted the Elvis Presley lyrics in a potential bid to lure shareholders with a tender offer that could see him seize control.

A tender offer would see him bypass the board and go to shareholders with his offer of $54.20 a share – but he would need to show how he would finance his bid.

He also appeared to suggest he would strip board members of their salaries, saying they would get ‘$0 if my bid succeeds’.

April 18: Jack Dorsey slams the Twitter board for ‘plots and coups’

Jack Dorsey slammed the board of Twitter as he weighed into the toxic fight over Elon Musk’s attempted hostile takeover for the first time.

The former CEO, who is still a member of the board himself, blasted the ‘plots and coups’ that were ‘consistently the dysfunction of the company’.

In a series of bombshell tweets and replies, he endorsed one posting saying that ‘a bad board will kill a company every time’.

Replying to one post, he said: ‘When I was fired in 2008 and made chair, the board took most of my shares away from me.

‘I also gave 1 per cent of the company back to the employee pool in 2015. So, ended up with very little of company.’

He also replied to one comment mentioning ‘plots and coups’ in the Twitter board saying: ‘it’s consistently been the dysfunction of the company’.

Earlier in the thread, he replied to a post quoting a ‘Silicon Valley proverb’ by venture capitalist Fred Destin.

It said: ‘Good boards don’t create good companies, but a bad board will kill a company every time.’ Dorsey said: ‘Big facts.’

April 21: SpaceX boss unveils his $46.5billion financing package

Elon Musk unveiled his $46.5billion financing package to fund his takeover of Twitter – using Tesla as collateral.

The world’s richest man filed documents with the Securities and Exchange Commission outlining how he would seize the social media giant.

He committed $21billion in equity, $13billion from Morgan Stanley in debt facilities and another $12.5billion from the bank and others in margin loans.

But ‘a portion’ of his shares in Tesla have been put forward as collateral, which analysts feared could have a huge impact on the firm.

The 50-year-old billionaire also revealed he was weighing up launching a tender offer for Twitter after the company ignored his acquisition offer.

He said he was exploring getting stocks directly from shareholders but admitted he ‘has not determined whether to do so at this time’.

Musk filed the document with the SEC showing how he planned to take over Twitter for about $46.5billion.

He secured a debt commitment letter from Morgan Stanley Senior Funding to the tune of $13billion in financing.

This was made up of a loan of $6.5billion, a senior secured revolving facility for $500million, a bridge loan of up to $3billion and an unsecured bridge loan for up to $3billion.

He also got a margin loan commitment letter from Morgan Stanley for $12.5 billion in margin loans. And Musk also got $21billion through equity financing.

But he has used ‘a portion’ of his shares in Tesla as collateral in the high-stakes move, which analysts warned could have huge ramifications for the company.

 

April 22: Musk posts ‘boner’ killer picture of Bill Gates on Twitter

Musk dissed Bill Gates’ gut on Twitter, posting a photo of the Microsoft mogul next to Apple’s controversial pregnant man emoji ‘in case you need to lose a boner.’

He posted a follow-up image in response to the Friday post of six hooded figured captioned ‘shadow ban council reviewing Tweet’.

The joke could further infuriate woke Twitter staffers angered by Musk’s ongoing bid to buy the firm after saying he would support free speech.

That is because the pregnant man emoji is aimed at being inclusive to transgender people – with Musk frequently taking aim at what he sees as woke overreach.

 

April 25: Musk ‘closes in on seizing Twitter’ as talks in ‘final stages’

Musk was closing in on seizing Twitter as talks between the Tesla magnate and the tech giant entered their final stages, reports say.

The billionaire could take over the company as soon as this morning as the board reportedly looked set to accept his offer of $54.20 per share.

The tycoon’s representatives were said to be hammering out terms including a timeline and fees if an agreement was signed and then fell apart.

The two sides were reportedly working into the early morning to finalize the ‘fluid and fast-moving’ negotiations.

Twitter shares soared by four per cent as the markets opened to $50.84 a share amid reports it would be seized by Musk. 

Wokearati threaten Twitter exodus over Musk… but none of them have deleted their accounts so far: Jameela Jamil, Mia Farrow and Sadiq Khan lead left-wing outcry

By Martin Robinson, Chief Reporter for MailOnline

‘Woke warriors’, their pet Left-wing organisations and Elon Musk’s business rivals have all threatened to quit Twitter over his takeover – but the vast majority are yet to delete their accounts despite some claiming they must leave for their mental health, it was revealed today.

The Tesla billionaire has vowed to let everyone say whatever they want on his social network – as long as they can prove they are not bots – and is even expected to reinstate banned users including Donald Trump with right-wing commentator Tucker Carlson already back.

In the hours after Elon Musk’s $44billion takeover was announced, some of Twitter’s most followed and left-wing users pledged to never tweet again – although the most of their accounts remain active. A group named Libs of TikTok have also put together a montage of people who are quitting Twitter over Musk – but many are keeping their accounts open so they can get more followers on Facebook or Instagram.

Mayor of London Sadiq Khan has even weighed in to the Musk debate with a thinly veiled criticism of the Tesla boss – but was urged by followers to concentrate on tackling the capital’s problems with knife crime.

He tweeted: ‘Freedom of speech is vital, but free speech does not mean a free pass for hatred. Online hate speech fans the flames of prejudice and leads to appalling and tragic real-world violence. Social media companies must do more, not less, to protect their communities’.

Model and presenter Jameela Jamil, 37, said Musk’s free speech promise will lead to ‘lawless hate, bigotry and misogyny’. Pledging never to tweet again she said: ‘Ah he got twitter. I would like this to be my what lies here as my last tweet. Just really *any* excuse to show pics of Barold,’ she added, attaching a photo of the poodle mix she shares with her boyfriend, musician James Blake. 

‘I fear this free speech bid is going to help this hell platform reach its final form of totally lawless hate, bigotry, and misogyny. Best of luck.’  Jamil has since been widely-mocked by people in her replies who believe she will not be able to resist staying off Twitter.

Actress turned activist Mia Farrow tweeted: ‘Well if Twitter becomes even more toxic- with Trumpy-treasonous lies & all the hatred- it will be taken less seriously, and people like me will quit – for peace of mind’. Amid a backlash from Twitter users, one critic said: ‘Do people who quit Twitter over Elon Musk HAVE TO tell everybody? Can’t they just leave?’ 

Gary Lineker also tweeted on the issue and said: ‘Does it matter who owns Twitter? It will no doubt continue to be both brilliant and a cesspit’. Tory minister Zac Goldsmith said sarcastically: With Elon Musk in charge, I really worry that Twitter might cease being a place of reason, balance & calm reflection’, although some of his critics missed the irony.

Critics of Elon Musk have threatened to quit or have pledged to leave if banned users including Donald Trump was reinstated. Others such as the Mayor of London Sadiq Khan launched more thinly veiled attacks

Critics of Elon Musk have threatened to quit or have pledged to leave if banned users including Donald Trump was reinstated. Others such as the Mayor of London Sadiq Khan launched more thinly veiled attacks

Others including Gary Lineker and Zac Goldsmith said the platform would be unchanged

Others including Gary Lineker and Zac Goldsmith said the platform would be unchanged

Others including Gary Lineker and Zac Goldsmith said the platform would be unchanged under Musk

Musk, who on Monday sealed a $44billion deal for the company just three weeks after starting the process, tweeted: ‘I hope that even my worst critics remain on Twitter, because that is what free speech means.’ 

But naysayers, most from the Left, are angry and have said they will quit, although most have not followed through with the threat.

Amnesty International tweeted: ‘Two words: toxic Twitter’ while Rob Reiner, star of 1970s sitcom All In The Family, said he feared ‘criminal’ Mr Trump would now have his account reactivated, although the former president has ruled out a return and says he will stay on his own ‘TRUTH Social’ platform. 

Rivals of Tesla have thrown their toys out of the pram, despite Musk insisting his acquisition is about free speech over profits.

Henrik Fisker, the Danish CEO of the electric vehicle maker Fisker, deleted his Twitter account shortly after the company confirmed that Elon Musk acquired 100% of the company. 

He Henrik tweeted: ‘Please follow me on IG (Instagram) from now on if you want any updates. Thanks’, using the hashtag #love.

Amazon boss Jeff Bezos has questioned whether his fellow billionaire Musk could be making Twitter vulnerable to pressure from China, as a result of Tesla’s extensive business liabilities in the Asian nation.

‘Interesting question,’ mused Bezos, who in 2013 bought The Washington Post with a view to protecting free speech and supporting journalism. 

‘Did the Chinese government just gain a bit of leverage over the town square?’ He commented on a retweet from a New York Times journalist, noting that Musk’s Tesla was extremely exposed to China. China is Tesla’s second largest market, and their manufacturers supply battery parts for Musk’s company.

Twitter is banned in China by the country’s authoritarian communist government, but there are fears the CCP could try and exert influence to stop users from abroad criticizing its government.

Bezos spoke hours after Musk, 50, on Monday sealed a $44 billion deal to take over Twitter, and vowed that he wanted to preserve the platform as a bastion of free speech. 

Several hours later, he appeared to moderate his barbed question, and heaped praise on Musk.

‘My own answer to this question is probably not. The more likely outcome in this regard is complexity in China for Tesla, rather than censorship at Twitter,’ he tweeted.

‘But we’ll see. Musk is extremely good at navigating this kind of complexity.’

Bezos and Musk are noted for their rivalry in space, with both men dedicating large chunks of their fortunes to exploration. Bezos dismisses Musk’s plan to colonize Mars using his SpaceX rockets as unrealistic, while Musk has been scathing about the orbiting space station Blue Origin founder Bezos proposes. 

And it was not only Bezos questioning the takeover.

‘Now that Elon Musk is buying Twitter, the question for all of us is: Will he allow a Criminal who used this platform to lie and spread disinformation to try to overthrow the US Government to return and continue his Criminal activity? 

‘And if he does, how do we combat it?’ 

Jeff Bezos, 58, on Monday asked whether Musk was dangerously exposed to Chinese pressure, which would complicate his purchase of Twitter

Jeff Bezos, 58, on Monday asked whether Musk was dangerously exposed to Chinese pressure, which would complicate his purchase of Twitter

Star Trek actor George Takei also voiced his fears over Musk.

But he said he was not quitting Twitter, because giving a greater platform to extremists meant that moderates like him were even more important.

‘I’m not going anywhere,’ the 85-year-old tweeted. 

‘Should this place become more toxic, I pledge to strive even harder to lift up reason, science, compassion and the rule of law. The struggle against fascism, misinformation, and hate requires tough fighters. 

‘I hope you stay in the fight, right beside me.’

He joked that Musk was setting himself up for a challenge.

‘The problems Elon Musk will face as the owner of a social media company will make him accelerate his Mars escape plans considerably,’ he added.

MSNBC host Joy-Ann Reid was her usual cynical self while responding to Musk’s request for his detractors to stay and debate.

She declared: ‘Translation: if his worst critics leave, Twitter will be as worthless as Gab, Gettr (lol) and Truth Social. 

‘He needs y’all to stay on here so his ‘free speech’ people can harass you for fun. 

‘Because dude does not ALWAYS believe in free speech…’

George Takei, Star Wars actor, tweeted: 'I'm not going anywhere. Should this place become more toxic, I pledge to strive even harder to lift up reason, science, compassion and the rule of law. The struggle against fascism, misinformation, and hate requires tough fighters'

George Takei, Star Wars actor, tweeted: ‘I’m not going anywhere. Should this place become more toxic, I pledge to strive even harder to lift up reason, science, compassion and the rule of law. The struggle against fascism, misinformation, and hate requires tough fighters’

She then linked to an Insider article from March 27, which detailed the stories of several critics and an employee who were retaliated against for criticizing Musk and his companies. Insider reported that a journalist who was critical of a Tesla launch event was personally phoned by Musk, and told their Tesla order had been cancelled.

It was unclear whether Reid was declaring that she too was abandoning Twitter, where she has 2.1 million followers.

She pinned a tweet to her profile with ‘a timely reminder’ that her fans can find her on TikTok, Instagram, Counter Social, Pop Viewers and the Community app. 

‘Have a blessed day!’ she concluded.

Podcast host Amy Siskind said she was debating leaving the site, thanks to the ‘absolutely awful’ Musk taking the reins.

‘I am sitting with my thoughts and watching, and haven’t decided if I am staying here,’ she tweeted. 

‘I have a huge philosophical issue knowing whatever content I provide here goes directly towards enriching one man, who I think is absolutely awful. Watching. His platform is hemorrhaging users. 

‘People need to understand that this is no longer a public company. Every post you make here is free content to enrich one man, Elon Musk. He is completely in control and answers to no one. I don’t view him as a mentally stable person.’

Siskind was mocked for saying she’d remain on Facebook, whose owner Mark Zuckerberg has been blasted for the site’s propensity to start fights and influence elctions.

Robert Reich, Bill Clinton’s labor secretary, said he was troubled by the significance of the deal.

‘Musk and his apologists say if consumers don’t like what he does with Twitter, they can go elsewhere,’ he noted. 

‘But where else would consumers go to post short messages that can reach millions of people other than Twitter? 

‘The ‘free market’ increasingly reflects the demands of big money.’

Others took a more combative approach.

Rapper Ice-T also found the situation amusing, tweeting: ‘It would kinda dope if Musk bought Twitter and just shut it off…. Lol’

Simu Liu, star of the 2021 Marvel film Shang-Chi, asked: ‘Was there nothing better to do with 44 billion dollars?’

And Kevin Jonas of the Jonas Brothers asked: ‘Will we now get the edit tweet option?’  

Why has Elon Musk bought Twitter? Who are the winners and losers? Why are staff unhappy? And how will the social media giant change after $44billion deal? 

Twitter has accepted Elon Musk’s $44billion bid to buy the social media giant, with the Tesla and SpaceX boss pledging to boost free speech on the platform so it can fulfil its potential as the world’s ‘digital town square’.

Mr Musk, the world’s wealthiest person and a prolific Twitter user, has a controversial past with the app, and his decision to take the company private is likely to have substantial ramifications for a service used by more than 300million people, including many world leaders.

Below, we answer key questions about Musk’s intentions towards Twitter, how people have reacted to his decision to buy the platform, and the site’s future under its controversial and colourful new owner. 

Elon Musk’s decision to take Twitter private is likely to have major ramifications for the social media site’s 300 million users  

Why has Elon Musk bought Twitter?

The business tycoon, who is worth $267 billion, has more than 84million followers on Twitter and tweets several times a day. 

The site allows users to post and interact with messages known as ‘tweets’. Registered users can post, like, and retweet tweets, but unregistered users can only read those that are publicly available 

He insists his takeover is not motivated by economic reasons, but rather out of a desire to safeguard Twitter as a venue for free speech rather than censorship. 

‘Having a public platform that is maximally trusted and broadly inclusive is extremely important to the future of civilization. I don’t care about the economics at all,’ he said in a recent public talk.  

What does he say is wrong with the site?

The billionaire self-identifies as a ‘free speech absolutist’ and believes Twitter has failed to live up to its free speech principles.

He has been critical of its content moderation policies, arguing it has censored some voices, particularly conservative ones. 

He slammed the site in a barrage of tweets last month. 

‘Free speech is essential to a functioning democracy. Do you believe Twitter rigorously adheres to this principle?’ Musk asked via a Twitter poll. 

He followed up with a series of tweets a day later, writing: ‘Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy. What should be done?’

A Twitter user asked if he would consider ‘building a new social media platform… where free speech and adhering to free speech is given top priority’. 

In response to the suggestion, Musk replied: ‘Am giving serious thought to this.’  

Musk appeared to criticise Twitter’s permanent ban of President Donald Trump last year for messages that the tech company said helped incite the January 6 riots at the US Capitol last year.

‘A lot of people are going to be super unhappy with West Coast high tech as the de facto arbiter of free speech,’ Musk tweeted days after Trump was banned from both Facebook and Twitter.      

Who is celebrating his takeover and why? 

Musk’s view that Twitter excessively censors some of its users is popular on the political right, with many conservatives, particularly in the United States, believing they are currently unfairly targeted by social media platforms.

Podcaster Joe Rogan previously said he was ‘excited’ about the prospect of Musk taking over, calling him a ‘super-intelligent leader-type character that seems to have great ethics and morals too’.  

The Tesla boss also received some effusive, if highly abstract, praise from an unexpected quarter – Twitter co-founder and former CEO Jack Dorsey. 

He praised Musk’s decision to take Twitter ‘ back from Wall Street ‘ and tweeted that he trusts Musk’s mission to ‘ extend the light of consciousness ‘ – a reference to Dorsey’s notion that ‘Twitter is the closest thing we have to a global consciousness.’ 

Who is unhappy and why? 

‘Woke warriors’ and their pet Left-wing organisations have lashed out at the deal and raised concerns Musk’s stout defence of free speech will allow ‘hate to flourish’. 

All In The Family star Rob Reiner, star of 1970s sitcom All In The Family, said he was troubled by the possible return to Twitter of Donald Trump under Musk’s leadership.

‘Now that Elon Musk is buying Twitter, the question for all of us is: Will he allow a Criminal who used this platform to lie and spread disinformation to try to overthrow the US Government to return and continue his Criminal activity?

‘And if he does, how do we combat it?’

Reiner appeared to be referring to Donald Trump, who was banned by Twitter in January 2021 after being accused of stoking the Capitol riot. Many left-wing tweeters fear Musk’s purchase of the firm could spell the return of Trump.

Actress turned activist Mia Farrow tweeted: ‘Well if Twitter becomes even more toxic- with Trumpy-treasonous lies & all the hatred- it will be taken less seriously, and people like me will quit – for peace of mind’. Amid a backlash from Twitter users, one critic said: ‘Do people who quit Twitter over Elon Musk HAVE TO tell everybody? Can’t they just leave?’ 

Mayor of London Sadiq Khan has even weighed into the Musk debate with a thinly veiled criticism of the Tesla boss – but was urged by followers to concentrate on tackling the capital’s problems with knife crime.

He tweeted: ‘Freedom of speech is vital, but free speech does not mean a free pass for hatred. Online hate speech fans the flames of prejudice and leads to appalling and tragic real-world violence. Social media companies must do more, not less, to protect their communities’.

Human rights groups also raised concerns about the deal, with Amnesty International saying it was concerned about any potential decision that Twitter may take after Musk’s takeover to take a laxer approach to tackling hate speech.

Anthony Romero, executive director at the American Civil Liberties Union (ACLU), said while he acknowledged the tycoon was a ‘card-carrying member’ of his organisation, ‘there is a lot of danger having so much power in the hands of any one individual’. 

Rivals of Tesla have thrown their toys out of the pram, despite Musk insisting his acquisition is about free speech over profits.

Henrik Fisker, the Danish CEO of the electric vehicle maker Fisker, deleted his Twitter account shortly after the company confirmed that Elon Musk acquired 100% of the company. Henrik tweeted: ‘Please follow me on IG (Instagram) from now on if you want any updates. Thanks’, using the hashtag #love. 

The business tycoon, who is worth $267 billion, has more than 84million followers on Twitter and tweets several times a day

The business tycoon, who is worth $267 billion, has more than 84million followers on Twitter and tweets several times a day

Which users are threatening to leave?

British actress Jameela Jamil led the charge of celebrities announcing they would abandon Twitter after Musk’s purchase, declaring that she would no longer be tweeting because his ‘free speech bid’ would end in ‘lawless hate, bigotry and misogyny’.

‘Ah he got twitter,’ she said. ‘I would like this to be my what lies here as my last tweet. Just really *any* excuse to show pics of Barold,’ she added, attaching a photo of the poodle mix she shares with her boyfriend, musician James Blake.

‘I fear this free speech bid is going to help this hell platform reach its final form of totally lawless hate, bigotry, and misogyny. Best of luck.’ 

Actress turned activist Mia Farrow tweeted: ‘Well if Twitter becomes even more toxic- with Trumpy-treasonous lies & all the hatred- it will be taken less seriously, and people like me will quit – for peace of mind’. Amid a backlash from Twitter users, one critic said: ‘Do people who quit Twitter over Elon Musk HAVE TO tell everybody? Can’t they just leave?’ 

Will they really?

It seems unlikely. Jamil has since been widely-mocked by people in her replies claiming that she’s far too much of an attention-seeker to stay off the platform. 

And after amassing one million followers, she would be sacrificing a major public platform. 

Some may also note that celebrities announcing their plan to leave Twitter have done so on the platform itself.  

What will happen to Twitter now?

In recent weeks, Musk has proposed relaxing Twitter content restrictions, while ridding the platform of fake ‘spambot’ accounts and shifting away from advertising as its primary revenue model. 

Musk believes he can increase revenue through subscriptions that give paying customers a better experience – possibly even an ad-free version of Twitter.

Asked during a recent TED interview if there are any limits to his notion of ‘free speech,’ Musk said Twitter would abide by national laws that restrict speech around the world. 

Beyond that, he said, he’d be ‘very reluctant’ to delete posts or permanently banning users who violate the company’s rules. He is said to instead favour temporary ‘timeouts’ for users who break the new rules.

One issue that has been at the forefront of the debate around Twitter and censorship has been the story about  Hunter Biden’s infamous laptop. 

Twitter initially froze the New York Post’s main account after it published an article about the scandal and demanded it delete tweets linking to the Biden articles. 

It initially justified the ban by citing a prohibition of distributing hacked material, before backing down when the story was proven to be legitimate.  

Musk has also announced a plan to make the site’s algorithms open source – meaning the code used to build them would be publicly accessible to allow users to see how certain posts were served to them in their timelines.

He said he wants to do this in the name of trust, and that this model is better than having tweets be ‘mysteriously promoted or demoted’.

However, some experts have already suggested there are limitations to this plan simply because very few people will be able to understand how the code being used in these systems produces the results they do, even if the move would be a clear step forward for general transparency.   

Will users stay anonymous?

Musk’s campaign against spam bots could leave anonymous users facing extra scrutiny, but it is not clear he has any plans to force everyone to disclose their real names.  

The Electronic Frontiers Foundation has said any move to do so would harm political dissidents, saying: ‘Pseudonymity and anonymity are essential to protecting users who may have opinions, identities, or interests that do not align with those in power. 

‘Political dissidents may be in grave danger if those in power are able to discover their true identities.’  

Will Donald Trump come back?

Musk has previously backed the idea of Trump being allowed back onto Twitter after he was suspended following the riots on Capitol Hill – but the former president has ruled out the idea of him returning. 

He’s instead sticking to his own app, TRUTH Social, whose popularity sputtered after a surge of interest during its glitch-ridden debut on Apple’s App Store. It’s still not available for Android users.

And despite not having posted since the platform’s launch roughly two months ago, the ex-president told Fox News he’d be a regular user within as little as a week.

‘I am not going on Twitter, I am going to stay on TRUTH,’ Trump told the outlet. ‘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 spokesman for Trump confirmed his intentions to DailyMail.com.

Trump claimed his app was getting a ‘better’ response than social media giant Twitter, though he did not appear to elaborate on how.

‘We’re taking in millions of people, and what we’re finding is that the response on TRUTH is much better than being on Twitter,’ the ex-president said. ‘Twitter has bots and fake accounts, and we are doing everything we can.’ 

Musk has previously backed the idea of Trump being allowed back onto Twitter after he was suspended following the riots on Capitol Hill - but the former president has ruled out the idea of him returning

Musk has previously backed the idea of Trump being allowed back onto Twitter after he was suspended following the riots on Capitol Hill – but the former president has ruled out the idea of him returning

Who else has been banned? 

Infowars host Alex Jones was banned from the platform for abusive behaviour, including spreading vile conspiracy theories about 9/11 and the Sandy Hook shootings which killed 20 schoolchildren, claiming their deaths were a ‘giant hoax’. 

Fox News host Tucker Carlson returned to Twitter just hours after Musk’s deal was announced, with the presenter tweeting ‘we’re back!’ to announced his return. 

Carlson was suspended from the platform last month after Twitter determined he violated its rules by referring to Assistant Secretary of Health Dr. Rachel Levine, who is a transgender woman, as a man. 

Other people who have been banned include right-wing provocateurs Milo Yiannopoulos, Jacob Wohl and Tim Gionet, better known by his online name ‘Baked Alaska’. 

Donald Trump’s former chief strategist Steve Bannon has also has his account suspended, as has Republican strategist Roger Stone and former Ku Klux Klan leader David Duke. 

Who has NOT been banned?

Twitter generated huge controversy by announcing its decision not to ban the Taliban, despite the group being responsible for numerous atrocities. 

The move was in stark contrast to the company’s Big Tech rivals. Facebook, WhatsApp and Instagram (both owned by Facebook), TikTok and YouTube have all banned and terminated accounts that are related to, promote or praise the Taliban. 

Twitter said in a statement that it would ‘continue to proactively enforce our rules and review content that may violate Twitter rules, specifically policies against glorification of violence, platform manipulation and spam.’

The social media giant used this justification to permanently ban Donald Trump after the January 6 Capitol Riot, causing cries of censorship from Trump supporters. 

Why has Jeff Bezos weighed in?

The Amazon founder yesterday suggested his fellow billionaire could be making Twitter vulnerable to pressure from China due to his extensive business liabilities in the country. 

He commented above a retweet from a New York Times journalist, which noted how exposed Tesla was to China, which is the electric car company’s second largest market. 

‘Interesting question,’ mused Bezos, who in 2013 bought The Washington Post with a view to protecting free speech and supporting journalism. ‘Did the Chinese government just gain a bit of leverage over the town square?’ 

Twitter is banned in China by the country’s authoritarian communist government, but there are fears the CCP could try and exert influence to stop users from abroad criticising its government.

Bezos spoke hours after Musk sealed his $44 billion deal to take over Twitter. Several hours later he moderated his barbed question and heaped praise on Musk instead. 

‘My own answer to this question is probably not. The more likely outcome in this regard is complexity in China for Tesla, rather than censorship at Twitter,’ he tweeted.

‘But we’ll see. Musk is extremely good at navigating this kind of complexity.’  

Why are some Twitter employees unhappy?

Like most of Silicon Valley, employees of Twitter generally lean to the left, making them immediately more likely to be sceptical of Musk than those on the right. 

Among those whining about the takeover was software engineer Addison Howenstine, who suggested his new boss could be ‘dangerous for democracy’. 

Then there is the issue of job security and the new working environment under Musk. 

While Twitter has guaranteed staff their jobs for the next six months and said ‘no layoffs are planned’, once the Tesla boss takes over any HR decisions will be up to him. 

Gerard Taylor, a senior software engineer, reflected widely held concerns about Twitter employees when he tweeted how its ‘company culture’ could change under Musk.   

Twitter staff immediately began complaining about Musk's takeover, including software engineer Geraint Davies

Twitter staff immediately began complaining about Musk’s takeover, including software engineer Geraint Davies 

Chloe Barnes, Twitter's lead for global curation standards, added: 'Totally understand that this is entertainment for some. But please know that this is certainly not entertainment for me'

Chloe Barnes, Twitter’s lead for global curation standards, added: ‘Totally understand that this is entertainment for some. But please know that this is certainly not entertainment for me’ 

Will they have to return to the office? 

Twitter currently has an option for staff to work from home, and internal messaging boards are now alight with fears Musk will now axe the policy. 

The entrepreneur has a contradictory approach to WFH, lashing out at stay-at-home orders during the early days of the pandemic and reopening his factories in the face of official opposition, but later saying staff did not have to come in if they felt uncomfortable about doing so. 

Musk is well known as a micromanager who has regularly slept on the floor of his factories, so he may become frustrated if he feels staff are not showing similar dedication. 

The firm’s downtown San Francisco could also be turned into a homeless shelter at Musk’s behest, with the California city engulfed by one of the worst homelessness crisis in the United States. 

Can Musk keep Twitter running?

Twitter investors have for years been concerned with the company’s slowing revenue growth. 

Its last quarterly results showed revenue had grown slower than expected, despite increasing by 22% to $1.6bn in the last three months of 2021. 

However, daily active users rose by 25 million in the year to 217 million, and the company aims to hit 315m by the end of next year. 

Despite some headwinds, Musk’s huge $264.6bn fortune looks perfectly capable of financing Twitter long into the future, while his his claim ‘not to care about the economics’ of the site should also reassure fans.   

How could the deal affect Tesla? 

Musk’s Twitter purchase has raised concerns about the fate of his more valuable company, electric carmaker Tesla, in case his attention is further divided by the social media platform.

Some analysts fear that a man who acknowledged sleeping on the factory floor during the launch of the Model 3 sedan and last year talked of working ‘crazy hours’ only has so much energy to spare.

‘Tesla feels very much like a startup despite it being a trillion dollar company,’ said Tesla investor Ross Gerber, chief executive of wealth management firm Gerber Kawasaki. ‘It’s as big or bigger than the biggest companies in the world, but it doesn’t have the management infrastructure like other companies.’

On top of that, Tesla is racing to boost production at new plants in Texas and Berlin amid supply-chain snarls and higher raw materials costs, as well as get work at its biggest factory in Shanghai back on track during a spike in Covid cases there. Musk said in January Tesla had too much on its plate and would not introduce new models like Cybertruck this year.

Tesla has managed to outrace its problems, but a heavier pull of his focus by Twitter worries investors.

‘I fear this is going to be a distraction,’ said one fund manager with a significant position in Tesla who asked not to be identified. ‘He’s juggling supply chains and factory delays and the expansion of the energy storage business and this doesn’t fit at all.’

Shares of Tesla have slid 8% since Musk first disclosed his initial stake in Twitter.  

How is Musk financing the deal? 

To purchase Twitter, Musk has raised $25.5bn in debt, including a margin loan of $12.5bn against his shares in Tesla, from a group of banks led by Wall Street bank Morgan Stanley. 

He has also vowed to provide $21bn in equity financing for the takeover, which leaves him on the hook for more than 70% of the purchase price unless he finds other backers.

Musk has a total net worth of $264.6bn, so his $44billion bid represents just a small slice of his fortune. 

Could US financial regulators stop it from going ahead? 

Regulators could block the deal if Musk fails to deliver on the equity component of the transaction. 

He is currently in talks with several wealthy individuals and institutional investors about backing that portion of his bid, sources told the FT. 

What challenges could Musk face as Twitter owner? 

Governments and regulators around the world, including the UK, are putting new laws in place to clamp down on harmful content online – with substantial implications for Twitter, even before this takeover.

Under the rules of the UK’s proposed Online Safety Bill, companies could face massive fines or have access to their sites blocked if they fail to stop the spread of violent, abusive material, as well as hate speech and other content.

There are even plans to hold company executives criminally liable for rules breaches in some cases.

The biggest issue for Twitter under Musk with these new rules could be through so-called ‘legal but harmful’ content.

This refers to content that in itself is legal but could be harmful when users encounter it and therefore should be taken down.

Under Mr Musk’s proposed free speech model, this could become a key area of friction between the site and regulators in the UK. 





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