Who Is The Owner Of Twitter?
Elon Musk will soon be in charge of Twitter.
On Monday, the corporation stated that it had accepted Tesla CEO Elon Musk’s offer of $44 billion to take the company private. That means the world’s wealthiest individual, who enjoys theatrics and erratic conduct, will soon have the power to affect conversation on a social network utilised by more than 200 million people every day.
Now, the world’s richest man has a power over the social-media network.
Tesla’s CEO promised additional features and reaffirmed his call for Twitter’s content moderation policy to be loosened. “Free expression is the backbone of a functional democracy, and Twitter is the digital town square where issues critical to humanity’s future are debated,” he said in a statement announcing the partnership.
If approved, the acquisition would be one of the largest in tech history, with worldwide ramifications for years to come, including the potential to shape how billions of people use social media.
How Much Is Twitter’s Net Worth In 2022?
Twitter is worth $13.316 billion based on revenue and earnings over the last three years.
A company’s market cap can provide investors and prospectors a sense of its value, but market prices fluctuate daily, so a bad trading day can affect the company’s valuation. However, the GOBankingRates Net Worth Evaluation examines elements like profit and income. The result is more conservative but based on data.
What Is Musk’s Plan For Wielding That Power?
He’s made some Twitter proposals, which you can see below.
In The Interest Of Free Speech, Loosen Content Standards
Tesla and SpaceX CEO Elon Musk describes himself as a “free speech absolutist” who criticises online platforms for over-moderation.
In announcing the purchase, he said, “Twitter is the digital town square where matters critical to humanity’s future are debated, and free expression is the backbone of a functional democracy.”
Musk argues that social networks should not remove offensive but legal comments. “If it’s a grey area, let the tweet live,” he stated recently at a TED conference.
Harassment, abuse, and threats of bodily violence are now prohibited on Twitter. Disinformation concerning COVID-19 is also prohibited on the site.
Musk’s move to loosen Twitter’s interaction limits has social media professionals concerned. It allows harassers, trolls, and others to target people, they allege.
They are concerned that easing Twitter’s rules may encourage people who want to abuse the platform by distributing false information about political events, government officials, and public health and safety.
Create A Button That Allows People To Update Their Tweets
One of Twitter’s most desired features is an edit button.
Unlike Facebook, Instagram, and other social networking apps, Twitter does not allow editing of published information.
Musk’s support for allowing users to alter their tweets has been criticised by professors, journalists, and other regular tweeters.
Experts think that giving an edit option will be used as a weapon by unscrupulous individuals to cover up abuse or harassment, or to deceive or manipulate others.
Others say that controls might be implemented to allow tweets to be edited to correct typos while keeping the original message intact.
Allow The Public To See Twitter’s Algorithm
Musk feels that Twitter’s algorithms should be made publicly available. He likes to share Twitter’s algorithm on GitHub, a popular code-sharing site for programmers.
Some social media transparency activists believe that revealing Twitter’s complex algorithm will achieve little.
Every day, Twitter processes billions of bits of data. The rationale behind Twitter’s recommendation algorithm and how tweets become viral is so complex that even the company’s software developers struggle to understand it.
Launch A War On ‘BOT ARMIES’
Musk also believes that the usage of Twitter bots, which are automated accounts that reply to specified themes, should be limited.
Musk’s business empire has a history of attracting bots, notably Tesla-supporting bots that go after Musk critics.
He hasn’t said how he’ll deal with those bots, but he has advocated for tightening down on bots that advertise bitcoin frauds.
“We’re either going to fight the spam bots or we’re going to perish trying!” Musk declared last week that his goal is to “authenticate all real persons.”
Advertising presently accounts for about 90% of Twitter’s revenue, but the network has struggled to attract advertisers as it devolves into political firestorms and violent online confrontations.
Shareholders will no longer put pressure on the company to increase advertising revenue. Musk believes it should be a subscription-based service.
Last year, Twitter unveiled Twitter Blue, a $2.99-per-month premium service that offers features such as an undo button that allows users to recall tweets before they are published.
Musk claims that Twitter Blue should be less expensive, that paid subscribers should be able to avoid seeing advertisements, and that the satirical cryptocurrency Dogecoin should be accepted as payment for a Twitter subscription.
There’s The Big Question: Will Donald Trump Be Reinstated?
Musk hasn’t stated whether he’ll reinstate former President Donald Trump after the business permanently banned him for violating its rules and inciting the Capitol siege on Jan. 6.
Trump praised Musk as a “terrific individual” and expressed satisfaction with the billionaire’s purchase, but stated that he had no plans to return to Twitter. Trump has indicated that he will instead focus on his alternative social network, Truth Social.
The question came up during a Monday afternoon all-hands meeting. Agrawal said it was for Musk.
“Once the deal complete, we don’t know where the platform will go,” he said.