According to a source close to the deal, Elon Musk has finalized his $44 billion purchase of Twitter, placing the world’s richest man in command of one of the world’s most powerful social media networks.
The transaction’s conclusion removes a cloud of uncertainty that had lingered over Twitter’s company, workers, and stockholders for much of the year. Musk attempted to back out of the transaction for months after agreeing to acquire the firm in April, claiming worries about the number of bots on the network and later charges brought by a corporate whistleblower.
Elon Musk has claimed that he plans to reconsider Twitter’s content filtering procedures in order to encourage a more maximalist interpretation of “free expression.” The billionaire has also expressed his displeasure with Twitter’s practice of permanently banning users who frequently break its rules, increasing the prospect that a number of previously banned, problematic individuals may reemerge on the network.
Musk met with staff members at Twitter’s San Francisco headquarters earlier this week. Additionally, he published an open letter to Twitter’s advertisers expressing his concern that the social media site does not turn into a “free-for-all hellscape where anything can be said with no consequences.”