Elon Musk purchases Social Media platform Twitter for $44B
By now, everyone knows the news that Elon Musk purchased Social Media platform twitter for 44 Billion dollars. The sale which seemed to happen overnight saw Musk, basically purchasing about 9 percent of Twitter stock, to rejected to join Twitter’s board of directors to moving to purchase the platform. In hopes to “allow free speech to reign” and “bring new features to the platform” as well as “verifying all humans” said Elon Musk in a press release.
So what now? What does it mean? What happens to Twitter now? Also, how does this effect the social media space — especially after seeing Facebook’s shift to Meta, and the swift shift in Instagram no longer showcasing user’s following, as a feed but opting for the sponsored posts and “you may like” feed. While the story unravels it does open up the dialogue and think pieces around the current news. With tweets pointing out Musk’s recent offer to the UN of providing 6 Billion if they could provide steps that could end world hunger and others stating how the possibilities could exists for everyone if they received the same treatment as Musk, as banks were willing to put together 44 billion dollars just for him to purchase Twitter.
Opportunities like this don’t really exist for those with plans to start a business. Loan options are difficult to obtain for some, even if there is dream and a plan to make the money grow, banks will still deny a loan that could possibly make the next million/billion dollar idea. Interestingly enough, as the man with a $260 billion+ network, its nothing for a bank to magically pull together 44 billion for him to use.
“Black Twitter ran the value up on all this social media shit,” - Comedian Karlous Miller tweeted.