Musk Takeover 🤝

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Musk Takeover

Elon Musk can’t seem to get bored in life, already owning and making business decisions for Tesla, SpaceX, The Boring Company, and Neuralink. His next objective is Twitter, one of the most iconic social media platforms in history, and the saga has been remarkably interesting. To review, he first disclosed a 9.1% majority stake in the company and joined the board before abruptly leaving the board. Then, in what many considered a hostile takeover, Musk offered a $44 billion bid to buy the company as a whole. In response, Twitter announced a poison pill strategy as they were skeptical of how Musk would finance this, but Musk got his funding lined up and ready just a few days ago.

Now, it has become official, with Twitter accepting Musk’s bid in a landmark decision. The deal values Twitter at $54.20 per share, which is a massive premium to the $39.31 Twitter was at before this started. Musk plans to take the company private, and he has many decisions to make. One thing Musk has stressed is his support of free speech, and one victim of this has been former president Donald Trump, who was permanently suspended at the beginning of 2021. Many will look to see if Musk revokes that decision, which will be a polarizing one, as he has stated multiple times that he is more in favor of things like temporary suspensions. Other things include an edit button for tweets and making Twitter’s algorithm open source, which would definitely give it an edge over Facebook in the view of the public. However, anything is possible as it’s Elon Musk we are talking about, and current Twitter CEO Parag Agrawal even admitted he has no idea where the company will go from here.

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

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