Why was Elon Musk interested in Twitter, and What are his plans for Twitter in the future?

Why was Elon Musk interested in Twitter, and What are his plans for Twitter in the future?

The majority of the world that I see around me and that we all see is tied to screens. You could eventually get the impression that there are more screens in our world than real-life things. These displays have a certain too-addictive quality. In actuality, we all know what that compulsive component is! It’s most likely social media.

We live in a culture where we don’t truly live in a society; instead, we hop from one kind of media to another on social media. For a brief period, we could be sharing amusing pictures on Instagram, selecting captions for the posts on Facebook, and then tweeting our feelings. We now have the enormous task of maintaining each social media platform while still having a fulfilling social life.

It is imperative that social media prioritizes privacy and serves as an ethical and moral communication platform due to the number of people who use it. The principles of democracy, such as the freedom of expression, should be present and more democratic. It should also be open to all features with stringent rules against the hatred and misbehaviour we have all seen online. This conversation about managing social media has dominated recent years—perhaps for the past ten years. Influential parties are engaged in this choice, and our daily social media platforms are improving.

This article discusses Twitter as one such social medium. A primary social networking site on the internet is Twitter. We’ll discuss how it’s evolving, the latest news about Elon Musk’s decision to buy out all of Twitter’s interests, the likelihood that he’ll acquire the firm as a whole, and how the two sides’ legal battle over the termination of the purchase contract has been dragged out in the open. The decision by Elon Musk to acquire Twitter was the subject of several updates. Let’s examine each frame of the occurrences separately before determining the firm’s status and direction. Let’s find out who the main character in this story is and why he is making such a splash first.

 

Who is Elon Musk?

If you’ve never heard of Elon Musk, you must be living under a rock! He is likely the most illustrious and excellent businessman and entrepreneur (at least in the twenty-first century). His Twitter account shows that he is funny, brilliant, and possesses all the necessary abilities to produce anything in the sciences and technology.

He founded SpaceX, a company that builds and launches rockets into space, The Boring Company, which produces tunnels for more modern and future transportation, and the storied Tesla Motors (an intelligent car manufacturer). Everything that most technologists across the world had prophesied would soon be impracticable is now possible thanks to this individual. Elon Musk, who has a net worth of $220 billion, will be the wealthiest person in the world in June 2022. Along with these large corporations, Elon Musk also owns and operates a sizable number of other enterprises.

In addition, the great majority of investors and people throughout the world adore and appreciate him. There is Elon Musk involved, so with tremendous power comes great responsibility. He has such sway that once, with only a tweet, he dramatically increased the price of Bitcoin. He is the creator of the internet meme that uses the term “to the moon” and the funny cryptocurrency, Dogecoin.

Probably not Elon’s Wikipedia, but his Twitter account, which is the most fabulous place to learn more about him. I’m joking when I say that he is the most open and himself on Twitter. Aside from memes, more burning jokes, and facts, he sometimes shares odd insights. Not to add that, among all social media sites, Twitter appears to be his favourite. Maybe this is why Musk first intended to buy the land but then changed his mind.

The creator of the Tesla corporation devotes a disproportionate amount of time to it. In this case, they were making the purchase announcement for Twitter would be acceptable. It would help if you first comprehended why Musk took that decision and how he was close to making the same but abandoned it before disclosing the news that Musk opted not to buy Twitter and was sued.

Elon Musk responded the purchasing a 9.13 per cent stake in Twitter.

Twitter was shaken by the news that broke on April 4, 2022. not just Twitter but every firm stakeholder. 9.13 Elon Musk purchased per cent of the company’s shares. This move had the effect of elevating him to the position of largest Twitter shareholder. Having purchased the most significant stake in the firm, he now has more power than any other shareholder. Numerous effects followed the revelation that Elon had acquired a 9.13 per cent ownership stake in the firm.

This was the unexpected and unpredictable choice of a man with tremendous worldwide authority. A man of tremendous authority in the world suddenly and unexpectedly decided to do this. Elon has consistently shown that he is completely unpredictable. He tweets and conducts himself similarly, doing whatever makes him happy. Remember that at the time, Elon held almost four times Dorsey’s share in the company. In addition to being a co-founder and a key player in the establishment of the business, Jack Dorsey eventually left his positions as CEO and on the board of directors of Twitter. With this investment, Elon outpaced Jack and amassed a larger share of the firm.

After the stakeholding, the share price of the company increased as well. Because the social media giant is a sizable organization, it is listed as a corporation. We can only speculate what purchasing 9.13 per cent of shares in a corporation the size of Twitter might entail as someone who has the power to shift the price of bitcoin with only a tweet instantly. Following the news’s announcement on April 4, 2022, the Twitter stock increased by 27%. This has also been recognized as the company’s shares’ single-largest increase.

Elon Musk broke US security regulations by failing to notify the SEC when his stake in Twitter exceeded 5%. Due to his acquisition of nearly 9 per cent of Twitter shares via the 13G filing of the SEC on April 4, 2022, Twitter’s shares enjoyed their most significant intraday increase since its 2013 IPO.

With a 9.7 per cent interest in Twitter, Elon was given the ability to influence corporate choices and, in turn, the company’s reputation in the market. Elon was expected to join the firm’s board of directors, which would have given him the power to run the company, according to many press stories. This is one of the most significant advantages for a company’s largest shareholder. However, Elon first delayed the same till April 9, when it took effect.

The results or replies mentioned above were only a tiny part of the story, but they also reflected the most significant changes on the outside and inside. There were, however, other effects and implications at the time that were not yet known to the public. When the proposed Twitter transaction is authorized, Elon will take over ownership of the firm, but first, we must wait and watch what changes he will make. We need to go to his Twitter account to find this information.

His Twitter account has dependably been a treasure trove of knowledge nuggets that show us in the direction of the route that he wishes to take with his account. Let’s examine a few of his most recent tweets in the context of the claims that he has acquired the most Twitter stock.

 

Elon Musk was replaced as Twitter’s biggest shareholder

The story has been uncomplicated up to this point, but something unexpected changes everything. The tale of “Elon and the aggressive takeover of Twitter” has yet another update. Let us first let you know that Twitter has five significant shareholders before we give you the narrative. The five companies listed based on their shares are Tesla, Vanguard, Morgan Stanley, BlackRock, and State Street. These five Investors/Firms are collectively on Twitter. These top five Twitter investors collectively control over 37% of the company.

Other investors considered entering the stage as Elon attempted to purchase the entire business under some hasty terms, such as rethinking his existing most significant investment in the industry. Next to Elon, The Vanguard Group, the largest shareholder, decided to participate. Vanguard boosted its market share on Twitter, forcing Elon to leave his throne. The asset management company, The Vanguard Group, increased its ownership in Twitter, a leader in social media, to 10.3% of the business.

In contrast to Elon’s 9.13 per cent stake in the firm, the group then held 82.4 million shares of Twitter, making them the company’s largest shareholder. The Vanguard Group surpassed Elon Musk as Twitter’s top shareholder. Elon attempted to take the corporation into his own hands before deciding. This was described as an aggressive takeover of Twitter by experts. Following Elon’s move, the “Twitter Takeover” hashtag quickly gained popularity as hundreds of Twitter users responded to it and shared their opinions.

To counteract what Elon was doing, Vanguard decided to purchase and control the most significant interest in the firm. Elon, who gave off the impression of being a fervent supporter of free speech, claims that Twitter is not doing enough to advance free expression. From a publicly traded firm, Musk intended to turn it into a private one because he believed he could maximize its potential. There is no doubt that the Twitter corporate offices were burning at the time.

 

Analysis of a Tweet by Elon Musk

Most famous people dislike controversy. To put it another way, most celebrities attempt to avoid any form of discussion. Most people around the globe enjoy contentious issues and stories with lots of spice. Contrary to common belief, most famous people strive to avoid confrontational situations, at least in public. Elon falls within the group of influencers or famous people who adore controversy. Musk is a very open person who expresses his opinions openly, even in front of the public. He is not concerned about the effects of his ideas or how others will respond to them. He only does.

His Twitter account displays the information from the previous sentence. On social media, he is his genuine self and simply posts without giving it any attention. That is one of the leading causes of his enormous Twitter following.

Elon Musk was on Twitter as usual shortly after it was reported that he had purchased a 9.13 per cent interest in the company. The incident occurred on April 4, and he has tweeted several times since then. Let’s decode his tweets, polls, and images to discover what he’s been up to. This is it:

After taking a significant ownership position in the business, he shared a meme as one of his first tweets. On his Twitter account, he published a meme, which is a widespread post, and his followers responded in kind.

Fans spread the post like wildfire by pressing the retweet button a million times. Elon Musk was shown smoking marijuana in the meme. Yes, when we talk about it more, it does get strange. Let’s link the tweeted image here so you can understand it.

The image shows Elon with Joe Rogan from a previous episode. Now is the time to emphasize that Joe Rogan is a well-known podcaster with a sizable fan base. As was previously indicated, Elon is on Twitter being himself as usual, contrary to popular belief and what is readily apparent online. This contentious episode impacted even Tesla’s share.

Returning to the tweet, he posted this picture of himself smoking marijuana. The image also has the statement “Twitter’s next board meeting is going to be lighted” at the top. The post is funny and titled NOT GONNA LIE. It demonstrates how laid-back this individual is and raises concerns about Twitter’s future as a social media platform that is increasingly open.

Elon Musk’s subsequent tweet, which we will highlight below, was well-received and received positive feedback from viewers worldwide. This time, Elon addressed the well-known problem that Twitter has been experiencing for a while. The edit key. Do you want an edit button? He questioned his 81 million followers in a poll he included in a tweet. He also added two creative typos to his Twitter poll, misspelling “Yes” as “yse” and “No” as “on,” which was not a careless error but rather an intentional one. Thus, the old are marked.

 

Elon’s Twitter poll was shared by Parag Agrawal, who added a comment asking poll respondents to think carefully since their decisions will impact the future. Later, Twitter formally announced that they were developing an edit button. Back then, Elon’s tweets were well-known, and now that he is the company’s largest shareholder, he must choose what authority he will have.

The subsequent tweet that we want to discuss was sent not long after he became the company’s top shareholder. This was a remark he authored that was retweeted. He retweeted specific tweets that listed “the top Twitter accounts that are followed.”

 

Among the celebrities mentioned in the first post were Obama, Justin Bieber, Taylor Swift, and others. The majority of these top accounts tweet infrequently and publish very little substance, Elon said in his retweet. In addition, he asked, “Is Twitter dying?” It was highlighted that Twitter was less widely used and that super users posted less content than on other social media networks like Instagram. This calls into doubt the social media titan’s level of popularity.

 

By identifying some of the most popular accounts, he also added a few additional answers to the tweet that was initially quoted. He said famous statements like those of Taylor Swift and Justin Bieber posted very little to nothing in the previous year. Everyone who responded to the tweet had numerous reactions, resulting in a decline in Twitter’s most significant accounts’ follower counts.

A subsequent tweet by Elon Musk included, “Convert Twitter SF HQ to a homeless shelter because nobody shows up there anyway.”. The tweet contained a poll, and many respondents approved the suggestion. Amazon’s Jeff Bezos, the wealthiest person on earth, was one of the poll’s participants. He agreed to the tweet, saying that his Amazon team had done a similar action. One area of Jeff and his team’s corporate headquarters was converted into a homeless refuge.

Elon tweeted about turning the Twitter building into a homeless shelter after noticing that the staff wasn’t showing up for work. So, the purpose of this poll was to punish the workers there. However, we believe that Twitter’s employees do an excellent job at their tasks.

After reviewing several tweets from the Tesla CEO, it’s time to examine the platform and its most well-known problem. The edit button has long been controversial on this social networking platform. Here, we’ll discuss both its current state and its projected future.

 

Twitter Edit Button Foray

Twitter is a social networking platform that primarily relies on written text. The majority of posts are written texts with a 140-character character restriction. This character limit was once significantly lower; however, it was later extended in response to the overwhelming demand from Twitter users. This is an illustration of how Twitter satisfies user requests.

However, there is still another issue that Twitter users struggle with. The lack of an edit button is that thing. Since Twitter’s conception, there has never been an edit button, and users are furious about it. They have been requesting it for a while, and Elon’s appearance has given these folks some optimism.

According to a previous Twitter assertion, the lack of an edit option motivates users to type carefully and sensibly. Twitter also wryly remarked, “Your typos make it original,” It is a great technique to get out of the situation. The problem was fewer characters for tweets even before this editing tool existed. By claiming fewer characters promote originality, Twitter used to downplay it.

It turns out that everyone using Twitter has a problem with the edit button. Thus this has to be made a feature on both the website and the app. There was optimism in Twitter users’ eyes when Elon entered the scene with the most significant stake in the business. Twitter recently stated, “We are working on an edit button,” in a tweet. This tweet was posted on April 1, or April Fools’ Day. We cannot say whether this is a joke or an actual event. If Twitter will indeed introduce an edit option or if it was a colossal hoax, only time will tell. However, it is no longer amusing.

 

Elon Musk won’t be a part of the Twitter board

It was a big deal across the world when this information was released at the same time as everyone was waiting for Elon to join the Twitter board. In order to ascertain what occurred, let’s look at what was said in the article that Parag posted. Parag forwarded a snapshot to his coworkers rather than posting the message on Twitter. Elon Musk has chosen not to join our board of directors, the article said before going into further detail.

Elon Musk and the Twitter board, according to him, have spoken directly on several occasions regarding various topics. The board of directors was pleased that Elon joined Twitter, but they also wanted to be informed of the risks. According to the rumour, the company wished for Elon to operate in its and its shareholders’ best interests as a bonafide board member. With all these customer requirements that any company would expect from a board member, the Twitter board was glad to offer Elon a position. This was brought up in the article. Elon will be nominated as a board member of Twitter, the company said in an official statement on Tuesday. After a brief background check.

 Elon said the next day that he would not join the Twitter board just as the work was about to be finished. According to Parag, they have always considered the shareholders’ views and believe this choice is the best. Elon Musk is now the company’s most excellent stakeholder and owner and will continue to be so. The business will always be available for his involvement. By not joining Twitter’s board of directors, the Tesla CEO is indicating that they will keep their position as the company’s largest shareholder and all of the privileges that come with it.

The future of Twitter, according to Parag, will be full of distractions, and everyone working there will need to prioritize their goals and successes.

All of these occurrences on Twitter show Elon to be a wholly unpredictable, irrational person. Not to add that Twitter is his favoured social networking site and that he currently works for this company. Elon is anticipated to treat the board deference and avoid causing any pointless commotion. Again, Elon is unpredictable, so Twitter will profit from focusing on its goals if it rejects the opportunity to continue serving on the board of directors.

As soon as the word started to get out, it was clear to see an immediate impact. Twitter’s share price dropped because stock exchanges only reflect investor opinion. Investors began to remove money from Twitter from their portfolios and stocks due to this action, which damaged investors. As previously noted, Elon is his regular self and doesn’t care about the controversy. Therefore, this was the result of the news. Just one tweet will cause a stock to fall.

 

Does Elon Musk Own Twitter?

Yes, you did hear it somewhat right! Elon Musk won’t buy out Twitter on April 26, 2022, by buying up all of the stock; instead, Musk is ecstatic about the arrangement and eagerly awaiting approval. Now the “is excited” is “was enthusiastic.” Yes, Elon Musk has given up on the Twitter buyout and no longer wants to pursue it, according to sources dated July 9, 2022. In reaction to Musk’s choice, Twitter has stated that it would sue the Tesla CEO and compel the transaction to go through.

As previously stated, this article needs to be updated with the most recent information. We learned through another update in our study that Elon intended to purchase the entire business. Although it was clear from his conduct, this was nevertheless major news.

Elon Musk requested the board to sell the business to him. He said the industry has much potential as a Twitter supporter and the company’s largest shareholder. Despite that potential, he said he might unleash that potential.

Tesla’s CEO made a seemingly impossible offer to the company. The company will be valued at $43 billion after he purchases each share for 54.20 dollars. The financial markets responded favourably when it was revealed that the world’s wealthiest individual was attempting to acquire the dominant social media company. Shares of Twitter increased 5.3 per cent and were now trading at 48.2 dollars.

 

Twitter stated that after reviewing the proposal, its board will decide how to respond in a way that would benefit “all Twitter investors.”

 

It all began on April 4, 2022, when Musk consented to an agreement that would assign him to the Twitter Board of Directors on that day and forbid him from owning more than 14.9 per cent of the firm. But before his nomination took effect on April 9, Elon decided not to join the board.

Elon Musk finally made a $44 billion offer to purchase all outstanding Twitter shares for $54.20 on April 13, 2022. This was motivated by his ambition to sell the company. Twitter “neither thrives nor serves [its free speech] social imperative in its current form,” according to Musk, who added that it “has to be reinvented as a private corporation.” On April 25, 2022, Twitter’s board finally authorized Musk’s offer. Prior to that, Twitter had vowed that every decision it took would be made with the growth of the company and its stakeholders in mind.

The current state of Elon’s life seemed too uncertain and chaotic for rational contemplation. Despite Elon’s fantastic offer, the board was unable to establish if he was competent to hold the most essential figurehead role in the company. The panel argued that since Elon would have total authority if he bought Twitter, the company would be required to comply with his directives. To be in charge of the entire corporation, Elon was undoubtedly too erratic and unreliable.

 

“If the deal doesn’t work, given that I don’t have faith in management nor do I feel I can force the required change in the public market, I would need to reevaluate my position as a shareholder,” added Musk.

Elon’s admission that his stake was 9% rather than the previously stated 9.13% made this reaction notable. Again, this enraged the company’s investors. It was expected that Elon would hostilely purchase Twitter if his excessive power weren’t curtailed. If the company turned down Elon’s offer, it would indicate that he would not invest in it. Hence we use the word unfriendly in this situation.

Without a doubt, this suggested that the stock market would decline. The corporation was jailed in this situation, and what followed appeared to be a quarrel between Elon Musk and Twitter. Even though everyone thought that Twitter and Elon Musk’s reconciliation had ended, they still planned to complete his full acquisition of Twitter on April 26, 2022, by buying all of its shares, valued at $44 billion. However, this hasn’t occurred yet.

As a result of Twitter’s failure to offer accurate information on the bogus accounts that are present in it, Elon Musk has not yet bought Twitter and has instead walked away from the agreement. The administration of Twitter responded by threatening to sue the wealthiest person in the world when Twitter caught fire after hearing this. Additionally, if one party violates the $1 billion fee mutually agreed upon, that party will pay it.

 

Elon Musk filed a lawsuit against Twitter at the Delaware Chancery Court on July 12, 2022, after Twitter requested that the transaction be terminated. Musk allegedly faced accusations of hypocrisy in the case. Musk promptly returned to Twitter and said, “Oh, the irony, lol.” Even though Musk did not mention the acquisition transaction in his tweet, it was clear that it was a response to the lawsuit, given that Twitter hadn’t even given the acquisition deal any attention in April 2022.

Musk’s forced acquisition of Twitter was settled upon by Kathaleen McCormick, who was given the Twitter contract and pretended to be the Chancellor or Chief Judge of the Court of Chancery. Even in this instance, McCormick’s reputation as a “serious, no-nonsense judge” was confirmed.

What comes next? Yes, the enormous agreement has changed and is now significantly heading into a judicial confrontation. The Chancery court ruled in favour of Twitter, meaning Musk must now finish the acquisition. The agreement must now be completed, or it may be taken to higher courts. The approval of Elon Musk’s $44 billion purchase of Twitter, effective as of July 27, 2022, will be decided during a shareholder’s meeting that Twitter has scheduled for September 13, 2022.

But all we can do is wait and make educated guesses about how the Twitter-Musk transaction will pan out.

 

The Present State of Twitter

The social media platform Twitter is very well known. People adore it because it is easy to use, has excellent applications, and has significant ramifications. In addition to sharing news, it is a fantastic blog site for expressing thoughts succinctly. Building a platform that would enable users to type out their ideas and post them on a social wall that can be accessed from anywhere was a great idea that worked well.

This social site is very different from other well-known platforms like Instagram, as we shall see when we compare it. Instagram only prioritizes images and videos (primarily tiny). On the other hand, Twitter is a specialized website categorized as a microblogging platform. Here, it’s the words that matter. Of course, posting photos and videos on Twitter is still primarily verbal and non-central, even though there are possibilities for doing so. Instagram is more aesthetically attractive than Twitter, which functions more as a gathering place for people with similar views and interests.

There is room for it, too, if we see Twitter from a commercial standpoint. The most popular uses of Twitter are for community management and customer support. Most businesses manage their community services on Twitter and are receptive to client questions. Elon Musk is close to purchasing this well-known social media network, making him the only private owner of Twitter.

Elon Musk had initially vowed to sabotage the $44 billion takeover of Twitter. In response, a Twitter user allegedly indicated the requirement for a court, which would ultimately force the microblogging platform to give over internal documents about the spam and bogus accounts. According to sources from June 21, 2022, the Twitter board accepted Elon Musk’s $44 billion Twitter acquisition.

The price of Twitter shares dropped far below the amount Musk proposed, raising questions about the deal’s viability. Elon Musk also expressed grave concerns about the debts, spam, and phoney Twitter accounts that Twitter claims to have identified. Musk opted to end the agreement in the first week of July 2022, alleging several contract violations, because none of these was satisfactory. Now that the Court of Chancery has requested to finalize the acquisition by force, Musk may purchase Twitter before anybody else.

 

The Prognosis for Twitter

With Elon Musk’s purchase of Twitter, the chain of events has already passed its turning point but has not yet ended. As a result, there will undoubtedly be more. If the purchase is approved, Elon Musk, a titanic businessman and computer mogul, might shift the likely course of Twitter. Change implies at least some change, if not a significant one. The first such alteration, the approval of Musk’s proposal for installing the “Edit button” on Twitter, was apparent even before Musk offered to purchase Twitter in full.

The edit button, which is now under testing, will soon be added, according to Twitter. However, Musk’s decision to back out of the acquisition agreement would likely result in a less-than-expected court struggle. Be prepared since the deal might now go either way. The preliminary judge’s decision in favour of Twitter in the lengthy legal case over the acquisition of Musk by Twitter!

 

Conclusion

Twitter is a popular platform for verbally expressing thoughts and opinions. It is well-known worldwide for only this one reason. Concise wordsmiths adore it and are devoted app users. That Elon enjoys it as well is not surprising. Elon even claimed in a tweet that he writes half of his tweets from his porcelain throne, which is amusing and perhaps accurate.

The toilet seat is a porcelain throne in slang for those curious. This CEO of Tesla, who is also quite unpredictable, is now vying to become the owner of Twitter after acquiring the largest share in the business. This raises people’s expectations on Twitter to the moon, or perhaps the roof. Elon is erratic and frequently at the centre of disputes. Twitter’s future is undoubtedly uncertain, but it will also be exciting.