Elon Musk: Twitter Overtake

Tina Ngo, Shark Story Editor and Publicist

One of the wealthiest men in the world took over the most widely used social media platform, Elon Musk, and Twitter. 

A lot of controversies rose as he began to start the process of buying Twitter which led to lawsuits and what was almost a trial that came out of it. The final purchase of 44 billion dollars recently happened and is now removed from the New York Stock Exchange. 

There were many changes involved after this final purchase as some of Twitter’s top leaders were fired. The following leaders that were exempt from their roles include the chief executive, (Parag Agrawal) chief financial officer, (Ned Segal), the main legal and policy executive (Vijaya Gadde), and lastly the general counsel (Sean Edgett). He also laid off thousands of Twitter staff because he feels as if the workforce was far too large and placed too big of an emphasis on the safety of the platform, content moderation, and marketing. He further states that Twitter will create a moderation in the content through a council that has, as he states, “widely diverse viewpoints” which is as many agree crucial for a social media platform to thrive.  

Readers and bloggers say they can already feel his imprint on Twitter with these drastic changes. 

Many people are wondering as to why he chose to purchase Twitter in the first place since he claims it is not about the money. Elon Musk expressed in a tweet that he did not buy Twitter, “to make more money, I did it to try and help humanity, whom I love.” Twitter oftentimes is a place where people tweet or express themselves, but more often than not it does create misinformation and hatred through the Internet. He further explains, “Twitter cannot become a free-for-all hellscape where anything can be said with no consequences!”. 

How Elon Musk financed his $44bn Twitter takeover | Business and Economy | Al Jazeera

Even though he wanted to help humanity through the purchase of this social media platform and network, he did have second thoughts and almost took back the initial offer. This is due to claims and allegations concerning Twitter bots, and how the company misinformed not only him but also the public on the bigger issues. 

The most common misconception is that Elon Musk bought Twitter for more revenue and a boost in his overall network. However, according to Bloomberg Billionaires Index, his net worth has actually dropped by 9 billion dollars since buying Twitter.

There are much larger issues than his obtaining the platform, many people are wondering how he is able to maintain the Twitter user’s happiness as well as advertisers. Avid Twitter users were not content with the $8 monthly subscription for premium Twitter and he has expressed on multiple occasions that he “hates advertising”. Although he is discontent with advertisement in general, he will continue to keep it, but he wants it to be a genuinely respected advertisement platform.

But only time will tell to see how Twitter’s new owner will act in place and it’s overall growth.