Elon Musk news - latest: Twitter reveals results days after takeover announced
Twitter founder Jack Dorsey hails purchase as solution to all its problems
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Your support makes all the difference.Elon Musk has suggested a new name for Donald Trump’s Truth Social app as he accused Twitter, which has just agreed to buy for $44bn, of censorship.
The Tesla boss, whose takeover of the San Francisco-based platform was announced earlier this week, took to Twitter to compare it to to the former president’s own social media company.
“Truth Social (terrible name) exists because Twitter censored free speech,” Mr Musk tweeted. “Should be called Trumpet instead!”
]Musk will pay $54.20 cash per share for the San Francisco-based company, which will now be taken private after days of intense negotiations between the entrepreneur and the platform’s board.
The board announced it had reached a deal with Musk on Monday, and that it represented a 38 per cent premium from Twitter’s closing price on 1 April, the day before the world’s richest person made his move for the company by announcing his nine per cent stake.
Musk will likely make some significant changes to the social media platform, having made several hints in recent months about what his intentions are. It comes after Musk’s friend Dorsey stepped down as CEO and Parag Agrawal took over.
Tesla boss slams critics who ‘fear free speech’ after $44bn Twitter bid accepted
Elon Musk has slammed those critics who ‘fear free speech’ after having his $44bn Twitter bid accepted by the social media company.
The Tesla CEO took to Twitter after staying off the platform for almost 24 hours in the wake of his takeover of the company being announced on Monday.
“The extreme antibody reaction from those who fear free speech says it all,” he tweeted.
Will Donald Trump come back?
When asked if former US president Donald Trump would be allowed back on Twitter following Elon Musk’s deal to buy the platform, the company’s chief executive Parag Agrawal said the question should be directed to the billionaire himself.
“Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important,” Mr Agrawal said.
Speaking at a company-wide meeting following the announcement, Mr Agrawal told Twitter staff that the future of the social media firm is uncertain after the deal with the Tesla chief closes, according to Reuters.
At the meeting, he was reportedly asked whether Mr Trump – who was banned from Twitter last year in the aftermath of the 6 January 2021 Capitol riots – would be allowed to return.
“Once the deal closes, we don’t know which direction the platform will go. It’s a question we should address with him [Musk],” Mr Agrawal replied.
Tesla share price slumps day after Musk buys Twitter
Tesla saw more than $100bn wiped offits market cap as the share price of the electic vehicle company slumped more than 10 per cent the day after Elon Musk bought Twitter.
At the time of this post on Tuesday, Tesla shares were down 11.5 per cent, or $114.82 to $883.20 per share.
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