Does Elon Musk buy Twitter? That’s a question that many have been asking lately. The world’s most well-known entrepreneur, founder and CEO of Tesla Inc., and co-founder of the non-profit organization OpenAI, Elon Musk has been growing his business empire for a long time. Recently, he’s expressed interest in a potential investment in Twitter – which only added fuel to the speculation.
In case you’re wondering, yes Twitter is for sale and is on the hunt for potential buyers. Bloomberg reported that the social media giant has asked potential suitors to submit preliminary bids by end of April. The asking price? Anywhere between $15 billion and $20 billion according to sources.
Elon Musk hasn’t revealed any pieces of information regarding his intention to make an offer on the social media platform. But, ever since his comment on how he wants to “upgrade” Twitter, people all around the world have been speculating – and hoping – that he will buy it.
Financially speaking, Musk has the resources to purchase Twitter (despite the fact that he’s facing a cash crunch). On the balance sheet, Musk had close to $3 billion of cash and short-term investments on December of 2020, in addition to his estimated $39.6 billion net worth.
Still, it is important to consider that in 2018 Musk suffered a setback – he was sued by the SEC for his tweets about taking Tesla public. Later, the SEC and Tesla settled this case with the firm agreeing to pay $20 million and Musk stepping down from his role as chairman.
The juicy speculation surrounding a potential purchase by Elon Musk has been going on for weeks, and the world is watching with anticipation. While it’s almost certain that he has the financial means to do it, whether or not he will actually follow through is still a mystery.
Social Media Impact
It does not come as a surprise that the news of a potential deal between Musk and Twitter stirred the world of social media frenzy. His millions of followers and fans hope that the deal comes through and social media will be significantly safer, both from trolling and fake news.
Twitter only requires users to be 13 years and older, as opposed to other major platforms such as Snapchat and Instagram who require users to be at least 16 years old. There is ongoing debate over how altering the age requirement would impact the social media giant and its user base.
If Musk were to purchase Twitter, it is yet to be seen what changes he would implement. But either way, the impact would be enormous.
At the same time, it should not be forgotten that social media giants, such as Twitter, have had far-reaching impacts on all aspects of life, from business to politics. A new owner of Twitter would undoubtedly have the power to shape both the platform and its users.
Competition and Privacy Concerns
It is arguable that Twitter could have a more direct impact on Elon Musk’s existing businesses, potentially competing with them. Tesla, for example, will be developing its own proprietary electric vehicle battery technology. At this point, the technology is still in its early stages. It will be interesting to see how it could be incorporated into the Twitter platform should it come under the ownership of Musk.
At the same time, privacy and data security concerns are also likely to be raised. For example, if Musk were to buy the network, he could gain access to the personal data and browsing habits of hundreds of millions of users. This could potentially be used to target ads to groups of users or to use their data in any other way Musk sees fit.
Conclusion
Overall, buying Twitter is an attractive prospect for Elon Musk and presents the potential to acquire an enormous user base. But whether the deal comes through is still unclear. It remains to be seen what changes might be made to the platform, and the implications for both privacy and competition.
