Elon Musk deal – Twitter: From public company to private ownership

The deal also ends Twitter’s operations as a public company since its initial public offering in 2013. Going private is seen as a turning point for a business that started out as a messaging service, then developed into one of the largest social networks in the world.

If Wall Street previously expressed doubts about billionaire Elon Musk’s ability to raise enough money for the acquisition, or Twitter itself devised the “poison pill” strategy, diluting the company’s stock to cause harm. detrimental to Elon Musk’s acquisition plan, now all have been conquered by the world’s richest billionaire.

Elon Musk has closed the deal to buy Twitter. After the deal was announced, Twitter shares rose about 6% to close at $51.7 per share.

Elon Musk has closed the deal to buy Twitter. (Image: Getty Images)

Billionaire Elon Musk insists his purpose is not to make money, but to ensure Twitter is a trusted platform for democracy.

“Twitter has great potential. I want to work with the company and the user community to unlock that potential,” said billionaire Elon Musk.

Up to now, there is still no certainty about the billionaire Elon Musk’s strategy for Twitter, but once he holds a large amount of user data in his hands, it is not excluded that billionaire Elon Musk will breaking the ban on cryptocurrency on Twitter’s system.

“Dogecoin is a child of Elon Musk and it is likely that he will introduce Dogecoin on Twitter as currency. Twitter has 330 million users, if these people start using Dogecoin for any of the above services. Twitter, it could be a game changer, at least for Dogecoin,” said Gregori Volokhine, President of Meeschaert Financial Services.

Currently, billionaire Elon Musk is running Space X, Tesla, soon Twitter and 2 smaller startup projects. Many people also question how he will manage his time with a huge workload, because running multiple billion-dollar businesses at the same time is not easy.

“The question is can Elon Musk really juggle three businesses? However, I think a business with Elon Musk at the helm is much more optimistic than where Twitter is right now. “, said Mr. Philip Palumbo, Investment Director of Palumbo Asset Management.

The Elon Musk – Twitter deal shows the trend of billionaires acquiring control of influential media platforms. Before the Elon Musk-Twitter deal, Rupert Murdoch bought the New York Post in 1976 and the Wall Street Journal in 2007, or Jeff Bezos bought the Washington Post in 2013.

According to Kim Hue