‘Let that sink in’-literally! Elon Musk and his Twitter

‘The bird is freed’ was Elon’s first tweet after acquiring Twitter for $44 Billion on the 27th of October making it one of the biggest deals to take a company private. After months of back and forth with Twitter and the court, the deal was finally complete and Twitter became a private company.

‘The Chief Twit’ took some drastic actions as soon as he got ownership of the company, firing the Chief Executive Parag Agrawal, the CFO Ned Segal, Legal affairs and policy chief Vijaya Gadde along with half of Twitter's 7500 workforce. In a companywide email, he said that it is crucial for the company’s success moving forward. If you think about this for a moment, you might think that laying off these employees is a bad thing but after all, Elon is a passionate man and I believe that if someone can make Twitter a freedom of speech, it is him. He added a subscription for $8 that gets you the blue checkmark which earlier was only given to notable and authentic accounts. It is expected that this service would eventually account for about half the company’s revenue. Mr Musk’s main motivation for buying Twitter is his quest for ‘Free Speech’. He loves humanity and says he bought twitter to help humanity, by making Twitter a platform for people to express themselves freely.

Elon is determined to make Twitter bot-free by suspending almost a million accounts per day and anticipates that Twitter would reach 931 million users by 2028 from 217 million today and quadruple its revenue from $5 billion to $26 billion. Mr Musk is also set to launch a mysterious product ‘X’ which is suspected to make Twitter an ad-free experience for its subscribers.

Mr Musk started his journey at the beginning of his year by buying Twitter shares. He became the largest shareholder of Twitter with a 9.2% stake and he was offered a seat by the board members which he took happily. But, frustrated by Parag’s slow approach, Elon rejected his seat and on the 14th of April made an offer to buy out Twitter and make it private for $43 billion. He revealed his sources of finance and was all set to buy the company. Twitter agreed on the deal for $44 billion along with a clause. $44 billion is no joke, Elon started facing buyer's remorse and put the deal on hold. He issued 3 termination letters giving reasons for his actions. Twitter filed a case against Elon for breaching the contract, but Elon was convinced that Twitter was not playing fair, so he filed a case against them. His lawyers finally convinced him that Twitter was in a better position and he had to go through with the deal. And so he did and bought Twitter.

Things won’t be so easy for Mr Musk though as he has a lot of work to do with Twitter- the $13 billion debt on Twitter along with it losing around $4 million a day. He recently sold $4 billion of Tesla stock to save Twitter.

Elon Musk thrives in chaos, which is the current Twitter situation. As of now, things look pretty well for Twitter as it hit its all-time high of active users but only time will tell if it remains on the same path.