Twitter has confirmed that the company is being acquired by its latest, most significant board member, Elon Musk, after Musk made a $44 billion offer to purchase the company.
As far as Musk’s vision for Twitter goes, he plans to “privatize” Twitter, reduce its reliance on ads, and make it a platform for free speech. This means that Twitter could soon go through some major transformation under Musk’s reign.
Will endeavor to keep as many shareholders in privatized Twitter as allowed by law— Elon Musk (@elonmusk) April 14, 2022
I hope that even my worst critics remain on Twitter, because that is what free speech means— Elon Musk (@elonmusk) April 25, 2022
The news that Twitter may go private is also raising concerns about the potential disproportionate power of the elite class taking over the platform; whether users will be convinced to sign up for Twitter Blue and will those who can not afford it be locked out.
Nobody really knows what Musk’s plans exactly are, except that whatever will happen will change the way Twitter works big time.