Board of Twitter approves Elon Musk’s $44 billion deal
The $44 billion sale of Twitter to Tesla CEO and billionaire Elon Musk has received board approval.
According to ABC News, this was stated in a regulatory filing on Tuesday.
However, Musk was quoted by AFP as stating on Tuesday that “extremely big” concerns over the number of fraudulent users on the social network were still holding up his $44 billion acquisition of Twitter.
When questioned about the agreement at the Qatar Economic Forum, Musk declined to comment, claiming it was a “sensitive” issue.
By video link, Musk stated that “there are still a few outstanding issues.”
Included in this is the question of whether “the amount of bogus and spam users on the system is less than 5% as per their statements, which I think is definitely not what most people’s experience while using Twitter.
The executive in charge of exploration at SpaceX and Tesla cars said, “So we are still expecting resolution on that topic and that is a very significant matter.
Regarding Twitter’s debt and whether shareholders will approve the purchase, Musk said there were other concerns.
In order for the transaction to go through, “I believe these are the three issues that need to be overcome.”
80% of people in North America and 50% of people worldwide, according to Musk, should be using Twitter.
That implies that it must be something that appeals to people; it can’t, of course, be a place where they feel harassed or uncomfortable, or then they won’t use it.
Musk continued, “I think there is a significant difference between freedom of speech and freedom of reach.
More or less, you have the right to yell whatever you want in a public place. But whatever you say, regardless of how contentious, doesn’t have to be aired to the entire nation.
So, in my opinion, Twitter should typically take the stance of allowing users to express themselves freely within the bounds of the law but limiting who can view those statements in accordance with the wishes of individual users.
As he did at Tesla and SpaceX, he claimed that if the deal went through, his role would be to “drive the product.”
Musk predicted that Tesla’s workforce will decrease by around 3.5 percent during the following three months, but that it would then begin to increase once more after a year.
When asked about the 2024 US presidential election, Musk replied that he had not yet chosen a candidate but was willing to contribute $20–$25 million to their campaign.
He has previously said he could back Ron DeSantis, the Republican candidate for governor of Florida.
