Elon Musk and Twitter takeover flooded the media enterprises. Generally, big shots try to take over different media platforms, But Elon Musk turns out to be the first CEO to gain a social media platform.
Initially, Elon Musk bought 9.2% of Twitter stakes worth $2.8 billion. He emerges to be the highest external shareholder of Twitter compared to others.
Later, he conducted a poll among 80 million followers stating whether the company adhered to the principle of free speech. He also added that the consequences are prominent.

Elon’s Twitter poll

On 14th April 2022, Elon Musk placed a deal to acquire Twitter for $44 billion. Twitter threw a roadblock to a limited-duration shareholder rights plan known as the poison pill. However, once Musk announced that he had secured funding, the board went into negotiations with the co-founder of Tesla.

Why Elon Musk needs Twitter?

His motive for buying Twitter is not for money but to promote free and open speech. “It is important that people have both reality and the perception that they can speak freely within the bounds of the law,” says Musk in a TEDx interview.

What will be the new changes in Twitter?
The changes will not happen as quickly as expected. The first advancement would be the addition of an edit button. Twitter does not allow the user to edit the tweets after posting.

On 1st April, Twitter said it was working on the edit button, but the users painted it up as an April fool’s joke – the CEO of Tesla tweeted a poll over this subject. Over 4.4 million people suggested they require an edit button. The next day Jay Sullivan, head of consumer product, tweeted that the works on this feature are geared up, and that testing is carried out in the Twitter blue.

The ad removal will be sped up, adhering to the first transformation as it discourages the user activeness in the application.

The open algorithm is the most expected operation to be done by the great Elon Musk. He states that through this, the user will be able to view and offer improvements in the algorithm to make it more user-friendly. We all know that Twitter is the perfect space to convey our thoughts to reach a maximum audience. All these changes have both pros and cons. It is all in the hands of Musk to decide the future of Twitter.

Elon’s tweet on free speech

Economical impact on Twitter:

Advertising services generate the majority of revenue for Twitter. Over 89% or $4.5 billion is engendered through this ad service. Removing ads and ad bots might slash down the bulk income of Twitter Inc. Subsequently, the data licensing and other resources produce $571.8 million. Twitter sells its data license to its clients for analyzing historical and real-time data on the company platform to value their business. It is found that changes may interrupt these revenue aspects when the above changes are implemented.

Twitter’s take over is asymmetric trade fashion. The possibility of loss is less when compared to profit. Despite the downgrading share values of Tesla, a successful Twitter takeover would also dump another substantial challenge on top of the billionaire’s growing leadership portfolio, which includes SpaceX, The Boring Company construction company, and neurotechnology specialists Neuralink Corp.

The walk-in of Elon Musk on Twitter has boosted the performance and usage of Twitter and other social media. Without no point of doubt, the value of Twitter will continue to ace up with new changes.