Lagos,Nigeria
Monday, June 17th, 2024

Search
Search
Close this search box.

Elon Musk does not have plans of removing critics from Twitter

No comment
Tuesday, April 26th, 2022
No comment

New social media giant, Twitter, owner, Elon Musk does not plan to take advantage of his ownership to wield the big stick when he’s criticized.

Musk agreed to buy Twitter Inc. for $44 billion, using one of the biggest leveraged buyout deals in history to take private a 16-year-old social networking platform that has become a hub of public discourse and a flashpoint in the debate over online free speech.

Musk, one of Twitter’s most prolific users with more than 83 million followers, began amassing a stake of about 9% in January. By March, he had ramped up his criticism of Twitter, alleging that the company’s algorithms are biased and feeds cluttered with automated junk posts. He also suggested Twitter’s user growth was inflated by bots. After rejecting an invitation to join the company’s board, on April 14 he offered to take Twitter private, saying he’d make the platform a bastion of free speech and dropping other hints about the changes he’d make as owner.

The ideas verged from the practical — say, letting users edit tweets and combating the spread of bots — to the peculiar, such as a proposal to turn the company’s San Francisco headquarters into a homeless shelter.

“I hope that even my worst critics remain on Twitter, because that is what free speech means” Musk tweeted on Monday.

“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,” Musk said in the statement.

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

The deal was unanimously approved by the company’s board, and is expected to be completed later this year. Musk secured $25.5 billion of debt and margin loan financing and will provide about $21 billion in equity to fund the deal, according to the statement.

Vanguard News Nigeria

Leave a Reply

Your email address will not be published. Required fields are marked *