Elon Musk Wants to Buy Twitter
The centibillionaire recently purchased a 9.2% stake in Twitter for an estimated $2.89 billion. After that, however, Elon Musk decided not to join the social media platform’s board of directors.
To implement free speech on Twitter, Musk offered to buy Twitter for about $43 billion in cash. The purchase will help Musk “go through the changes that need to be made” at Twitter.
Hoskinson Proposes to Build a Decentralized Twitter With Musk
The CEO of Tesla (NASDAQ:TSLA) had criticized Twitter for failing to adhere to the principles of free speech. Musk, who owns a 9.2% stake in Twitter, said he’ll need to reconsider his position as a shareholder if his bid is rejected.
Replying to Tesla’s boss’ offer to purchase, Hoskinson has offered to build a decentralized social media platform with him. He wrote on Twitter;
Hoskinson’s offer comes a few weeks after Musk’s poll on Twitter suggested that he favors launching a decentralized social media platform that adheres to free speech.
On The Flipside
Why You Should Care
Musk’s move for a Twitter that supports free speech has been met with mixed reactions, with some believing that his real motive is to get back at the SEC.
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