EXPLAINER: What is Musk really doing as he guns for Twitter?
Mercurial billionaire Elon Musk now says he wants to buy Twitter outright, taking it private to restore its commitment to what he terms “free speech.” But his offer, which seemed to fall flat with investors on Thursday, raises as many questions as it answers.
Among them: Is he serious? Can he get the money together? Would a sale make shareholders happy? And what would the social platform look like if he succeeds?
WHY IS MUSK INTERESTED IN TWITTER?
Ostensibly because the service, he says, isn't living up to its potential as a “platform for free speech.” Musk insists that he's not interested in making money off Twitter and on Thursday said his motivation sprang from the realization that “having a public platform that is maximally trusted and broadly inclusive is extremely important to the future of civilization.”
Twitter, like other social media platforms, suspends accounts for violating content standards, including on violence, hate speech or harmful misinformation. Its suspension of Donald Trump angered the former president's followers.
Musk has described himself as a “free speech absolutist" — but he has blocked Twitter users who question or disagree with him. Regulators have also accused his car company, Tesla, of retaliating against Black workers who spoke up about discrimination.
HAS MUSK SAID WHERE HE WILL GET THE FUNDS TO BUY TWITTER?
No. And his regulatory filing says the offer is subject to “completion of anticipated financing.”
During a Thursday on-stage interview at the TED 2022 conference, Musk noted vaguely that he has “sufficient assets” to complete the deal, adding: “I can do it if possible.”
CAN HE JUST BUY TWITTER OUTRIGHT FROM HIS PERSONAL WEALTH?
Musk is the world's wealthiest man, according to...