The CEO of Tesla and founder of Space X, Elon Musk has added another company to his already loaded resumé. It was revealed this week that Musk purchased the highly popular brand Twitter for $44 billion dollars in cash. The world’s richest man is estimated to be worth $74 billion dollars more than the world’s second-richest man Jeff Bezos according to Forbes. The new purchase of the social media platform has Tesla stockholders shaking as worry grows over where his heart is truly at. Musk has just over 85 million followers on the platform which is good for the fifth-highest in the world. Many people believe that Musk bought the platform for an emphasis on free speech as there seems to be a disconnect on what he called “the bedrock of society”. This comes after many are accusing the purchase stemmed from Musk simply being sick of those “cyberbullying” the billionaire on the platform, so he simply took it over.
Twitter has not made the deal official yet and when it does later this year, the social media platform is rumored to become a private company. A new “subscription-style service” will limit the ads seen across the app and give those who use the platform frequently an opportunity for its best quality. Other potential changes could include a relocation of the Twitter offices in San Francisco and moving to Austin. Musk has been very open with his love for Texas when it comes to business. Tesla has already done a move like this where their headquarters also made the move from the west coast to the Lone Star state, as he also plans to expand Space X business there as well. The strong economy, vast workforce, and low cost of doing business had made this state a destination for entrepreneurs.
The new ownership of Twitter has also sparked the question “Will Donald Trump return to Twitter?” Answers to that question came quickly as Trump released his own platform called “Truth Social” which launched on Presidents Day. The creation of the platform comes after Trump was banned on both Twitter and Facebook following the January 6th storming of the Capitol Building. It will be very interesting to see how the platform stands in comparison to other social media giants.
Elon Musk’s purchase of Twitter will certainly change the platform in the long run and despite mixed feelings across the media world, users are excited about the future.