Elon Musk officially takes control of Twitter. What’s next?
Global News
Elon Musk has taken control of Twitter after a protracted legal battle and months of uncertainty.
Elon Musk has taken control of Twitter after a protracted legal battle and months of uncertainty. The question now is what the billionaire Tesla CEO will actually do with the social media platform.
The New York Stock Exchange began the process Friday to delist Twitter. That means everyday investors will no longer be able to buy and sell stock in the company and Twitter would no longer be required to publicly reveal details of its quarterly or annual financial performance with U.S. regulators.
Musk ousted three top Twitter executives on Thursday, according to two people familiar with the deal. Such a shakeup was widely expected, but Musk has otherwise made contradictory statements about his vision for the company – and shared few concrete plans for how he will run it.
That has left Twitter’s users, advertisers and employees to parse his every move in an effort to guess where he might take the company. Many are looking to see if he will welcome back a number of influential conservative figures banned for violating Twitter’s rules – speculation that is only heightened by upcoming elections in Brazil, the U.S. and elsewhere.
“I will be digging in more today,” he tweeted early Friday, in response to a conservative political podcaster who has complained that the platform favors liberals and secretively downgrades conservative voices. Former President Donald Trump is among those who have been banned. As is his ally Roger Stone, who wrote on Telegram that he was “waiting patiently to regain my voice.”
The mercurial Musk has not made it easy to anticipate his moves.
Musk has criticized Twitter’s dependence on advertisers, but made a statement Thursday that seemed aimed at soothing their fears. He has complained about restrictions on speech on the platform – but then vowed he wouldn’t let it become a “hellscape.” And for months it wasn’t even clear if he wanted to control the company at all.
After Musk signed a deal to acquire Twitter in April, he tried to back out of it, leading the company to sue him to force him to go through with the acquisition. A Delaware judge had ordered that the deal, originally valued at US$44 billion, be finalized by Friday.
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