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26 Apr 2022

Elon Musk: The World’s Richest Person Buys Twitter for $44 Billion

The Index Today

In a move heralding a supposedly new era of ‘free speech’, Tesla CEO Elon Musk on Monday bought Twitter Inc. for approximately $44 billion.

According to Reuters, this comes after Musk, who is also Twitter’s largest shareholder, expressed his criticism of the social media giant’s stance on free speech and made an unprecedented $43 billion acquisition offer for the platform which is used by millions of users and world leaders across the globe.

While many have welcomed the Musk rule on Twitter, several human rights activists have expressed skepticism over the world’s richest individual exerting control over the prominent social media platform, in addition to concerns of a potential surge in hate speech.

In a statement, Musk 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 Tesla CEO also intends to implement user-friendly features to Twitter, including an ‘edit’ button and subduing “spam bots” that send a barrage of unnecessary tweets.

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