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Elon Musk + Twitter

Twitter will be acquired by an entity wholly owned by Elon Musk for $54.20 per share in cash in a $44 billion transaction; once complete, Twitter will be a privately held corporation.

The notably litigious Musk says the vast investment supports his interest in “free speech.” The Washington Post, owned by the world’s second richest man, reports that the deal will “put Twitter in the hands of the world’s richest man and one of its most popular users, with more than 83 million followers.” MSNBC’s Chris Hayes: “Become pretty clear over the past few years that Musk, like Trump, has one true gift perfectly suited for the age: getting attention. The Twitter acquisition makes a lot of sense.” CNN: “Musk has repeatedly stressed in recent days that his goal is to bolster free speech on the platform and work to ‘unlock’ Twitter’s ‘extraordinary potential.'” Economics blogger Joseph Politano: “The clear financial benefit for Elon Musk doesn’t come from Twitter’s returns per se but from his ability to leverage social media to get retail investors to pile into Tesla and his other holdings.” Bloomberg Opinion’s Tim O’Brien: “Musk’s Twitter deal math is sketchy—he’s going to saddle it with billions of dollars of debt, possibly suffocating it. More important: He isn’t up to the task of running a social media company in an era of dangerous and divisive viral propaganda.” 

Robert Reich: “Musk’s real goal has nothing to do with the freedom of others. His goal is his own unconstrained freedom–the freedom to wield enormous power without having to be accountable to laws and regulations, to shareholders, or to market competition.” Journalist Judd Legum of Popular Information: “I have no idea if Musk will be able to buy Twitter and, if he does, how Twitter might change. But it underscores the importance of making sure you do not rely exclusively on algorithms controlled by tech companies to get your news. Take control of your information flow now.”

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