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Elon Musk Owns Twitter Now, Makes Official Announcement

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Elon Musk

(CTN News) – Elon Musk currently owns Twitter after a $44 billion acquisition agreement was finalized on Thursday, October 27, 2022.

On October 27, Elon Musk, the 51-year-old CEO of Tesla and SpaceX, said that he was the new owner of Twitter.

“There is now a tremendous risk that social media could split into far right-wing and far left-wing echo chambers that produce more hate and divide in our society,” Elon said in the shared statement, outlining his motivations for purchasing the business.

He adds, “Many conventional media outlets have fueled and catered to those polarised extremes in the continuous search of clicks, as they feel that is what brings in the money, but in doing so, the chance for discourse is lost.”

he added, “That is the reason I purchased Twitter. Because it would be simple, I chose not to do it. I didn’t do it to increase my earnings. I did it to support mankind, which I adore.

And I do it with humility, aware that, despite our best efforts, there is a very real chance that we won’t be successful in achieving this objective.”

Elon Musk’s Twitter profile, which says “Chief Twit,” also refers to his new acquisition. Recently, a video that showed him pacing the offices with boxes went viral.

Elon Musk’s difficulty is shown by the fact that on Wednesday, he visited Twitter’s San Francisco headquarters and hinted at leading the organization by changing the title of his profile to “Chief Twit.”

Elon Musk also wished for Twitter to be “a shared digital town square, where a broad variety of opinions may be argued healthily, without resorting to violence” in his tweets from Thursday.

The so-called “free speech absolutist” said in May that he would overturn Twitter’s decision to ban former US President Donald Trump from the platform in January of last year due to the potential for future instigation of violence of the storming of the US Capitol.

Even though Trump himself has declared he won’t return, the issue of Trump’s reinstatement on the social media site has been seen as a yardstick for how far Musk will go in changing things.

The conclusion of the Twitter contract would put an end to a six-month-long drama. The trading of the company’s shares will be halted on Friday, according to the New York Stock Exchange website.

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Arsi Mughal is a staff writer at CTN News, delivering insightful and engaging content on a wide range of topics. With a knack for clear and concise writing, he crafts articles that resonate with readers. Arsi's pieces are well-researched, informative, and presented in a straightforward manner, making complex subjects accessible to a broad audience. His writing style strikes the perfect balance between professionalism and casual approachability, ensuring an enjoyable reading experience.

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