Hot last week: Billionaire Elon Musk’s company acquisition and a new future with Twitter

Billionaire Elon Musk and the acquisition Twitter

In 2021, Billionaire Elon Musk has been honored by many leading magazines such as Times and Financial Times for his achievements and he is currently the holder of the title of person of the year. This year, the billionaire’s influence has not decreased. Most recently, he has acquired Twitter with many plans to change the future of this social network.

Many American newspapers likened that, “billionaire Elon Musk is like having the hands of King Midas, touching anything turns into gold”, the universe, technology, clean energy and now the internet. society.

On April 25, Twitter announced that it had accepted an offer from billionaire Elon Musk to buy this social network and turn it into a private company. The billionaire with a total net worth of about $240 billion will spend $44 billion, equivalent to one-fifth of his fortune, to acquire Twitter.

This is one of the largest corporate acquisitions in the history of the US technology industry. Statistics show that there are only two mergers and acquisitions with higher value than Twitter’s deal, when Microsoft bought the video game maker Activision Blizzard and computer maker Dell bought the company. EMC storage. Those acquisitions gave the takeover a huge position in its competitive arena. The Twitter deal is also huge in scale when compared between social networks. In 2012, Facebook bought the social network Instagram for only 1 billion USD.

Twitter has about 430 million regular users, especially loved in the US and many European countries. Many people will wonder why the richest person in the world, who owns a series of large companies, tries to acquire a social network. Through tweets, this billionaire revealed the answer.

Mr. Musk said his decision to buy Twitter was not to make money. He wants to make sure Twitter becomes a trusted platform for democracy. Once in control, he was able to make the Twitter algorithm open source and increase transparency with users. He also called for other social networks to become more transparent when using the algorithm. This point of view is very noticeable, especially after Facebook was caught up in the scandal of using an algorithm to encourage divisive content to increase interaction on its platform.

Powerful tweets

Surely with a person with many unique ideas like Elon Musk, Twitter will have innovation, maybe even create a trend that leads to the change of the whole social networking field. However, there is no need to wait until it is time to buy Twitter to do this, before that, all the moves of billionaire Elon Musk on Twitter, even the smallest, have a great influence, even changing the life of a company. many people.

The Starbase spaceport belonging to Elon Musk’s company SpaceX has been built in the Boca Chica area, the city of Brownsvilles, South Padre Island in Cameron County in the state of Texas for many years. However, the craze only really increased after Elon Musk tweeted: “Consider moving to Starbase or the Brownsville/South Padre area in Texas.”

Elon Musk reached an agreement to buy Twitter for $ 44 billion on April 25. (Photo: AP)

This tweet was written by Elon Musk to his millions of followers on Twitter in March 2021. In just 1 year, to the present, Cameron County’s economy has changed drastically thanks to Elon Musk’s supporters, including space enthusiasts and investors betting on his name.

Residents here said it was Musk’s tweet that prompted customers to buy a home in Brownsville, located on the border with Mexico, which was previously an area with sparse population and household income. lowest in the US. On South Padre Island, house prices have increased by nearly 30%. The average income of people has reached 39,000 USD/year.

Also in 2021, with just a few tweets, Elon Musk has shaken the virtual currency market

In February 2021, billionaire Elon Musk opened a Twitter poll to ask about the future of currency and Dogecoin, causing the value of this currency to then skyrocket by 35%.

How will Twitter change under Elon Musk?

The new merger is agreed in principle by both sides, but experts say, it is very unlikely that the deal will fall apart. The reason is because the transaction value is too large. If either party changes its mind and wants to stop, it will face a cancellation penalty of up to 1 billion USD. The process of completing the procedure will take several months, but right now, observers have been predicting the possibilities of Twitter’s social network to “makeover” under the new owner.

When announcing his plan to buy Twitter, Elon Musk wrote in a filing with the US Securities and Exchange Commission that Twitter needs to be transformed into a private company in order to thrive and serve the community well. than. This transformation gives Elon Musk full control and control of how Twitter operates at will. No longer a public company, Twitter is no longer required to file regular financial statements and is less subject to U.S. regulation.

Twitter users currently have no way to edit tweets other than deleting and reposting. Earlier this April, right at the start of his acquisition of Twitter, the US billionaire asked his more than 80 million followers if they wanted an edit button. 73.6% of more than 4 million people chose “Yes”. A day later, the Twitter communications team confirmed that the company was adding the feature to the platform.

Observers say that, when holding a large amount of user data in his hand, it is not excluded that billionaire Elon Musk will break the ban on cryptocurrency on Twitter’s system.

It’s still unclear if Musk has made any changes to Twitter’s privacy policy. This is an area of ​​great interest because, in fact, owning Twitter gives Musk more control over sensitive user data than other companies he runs like Tesla and SpaceX.

Observers comment on Elon Musk’s acquisition of Twitter

Elon Musk’s acquisition of Twitter not only attracted attention throughout the business world because of its great value, but it also attracted many opinions from experts and lawmakers. The reason is because the purchased product is one of the social networking platform most popular in the world, especially in North America and Europe. Elon Musk will have to be careful in this new game with this social networking field.

It can be said with Twitter, that Elon Musk’s already strong empire is now expanding. The conversion of a 16-year-old social media platform with hundreds of millions of regular users from a public company to one owned by a single individual promises to create remarkable stories in a time. next.

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