It’s been several months since Elon Musk announced he was buying Twitter, but the deal still hasn’t happened. The billionaire initially agreed with the social network’s current management and its shareholders to buy the company for $44 billion, with the value valued at the time at $54.2 per share. Even though Musk has since changed his mind, publicly arguing with Twitter’s management and even going to court over it, it seems that he has gone back on his original decision and will eventually buy the social network.
Elon Musk wants to buy Twitter based on the original deal with the company’s management and shareholders
Elon Musk tried to back out of the acquisition, accusing Twitter’s management of lying about the number of fake accounts the social network has, but following the ensuing lawsuit, which he would likely lose, he decided to go ahead with the purchase anyway. There is, however, unconfirmed information about the change in contract terms, as Twitter has not yet accepted Musk’s new offer. The company wants to create new clauses to prevent the possibility of Musk withdrawing his offer again after the contract is signed.
Twitter shares rose $9.45 after this news went public, to a value of $52, an increase of 22.24%. Musk already has 9.6% of Twitter’s shares in his portfolio, the first step he has taken towards the deal before he begins the final acquisition steps.
Trump will welcome back Twitter under Musk’s leadership
Under Elon Musk, Twitter could become a completely changed platform, looking to bring in more revenue by monetizing users with paid subscriptions for access to certain features, such as Twitter Blue, and weaken the network’s reliance on ads. Musk also wants verification of all accounts to show that there are real people behind them, while “freedom of speech” will be much greater than it is now. In fact, this is the main reason why Musk wants to buy Twitter, as he doesn’t agree with the “censorship” that currently takes place.
He also said he would welcome back former US President Donald Trump’s Twitter, which was permanently blocked on most social media following the attack on the Capitol in Washington D.C. in January 2021. Trump has meanwhile had several attempts to return to the social media space, first with a website and then with Truth Social, a network of his own that has faced many problems in the few months since its launch.