Elon Musk, the world's richest person, has bought Twitter for $44 billion (£34.5m billion) – and the jokes came rolling in.
Twitter founder Jack Dorsey welcomed the Tesla CEO with open arms, saying Musk's takeover of his company is “the singular solution I trust”.
In a string of tweets, Dorsey hailed the decision to let the tech mogul take the social media platform into private ownership and away from the ad model and Wall Street. He said it's "the right path."
“In principle, I don’t believe anyone should own or run Twitter,” he penned.
“It wants to be a public good at a protocol level, not a company.
“Solving for the problem of it being a company, however, Elon is the singular solution I trust. I trust his mission to extend the light of consciousness.”
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He agreed with Musk's aim to create a “maximally trusted and broadly inclusive” platform.
“I’m so happy Twitter will continue to serve the public conversation,” he said.
“Around the world and into the stars!”
Critics have since raised concerns regarding his stance as a “free speech absolutist”. There have also been speculations that he could relax Twitter's content moderation rules and allow the return of certain suspended accounts.
News of Musk's takeover soon spread to Twitter, and well, the internet did what it does best...
elon musk spending $43 billion to stop getting bullied on twitter when he could\u2019ve simply been less annoying is insane— first-mate prance (@first-mate prance) 1650897514
Lol, it\u2019s just such an obviously bad investment though, isn\u2019t it. That\u2019s the bit I can\u2019t get past.— Mike Bithell (@Mike Bithell) 1650915148
Some men go to therapy after a break up, others spend $44bn on a social media platform— Craham Gorking (@Craham Gorking) 1650914646
I buy a the Twitter for 41 a billion! I don't pay a the taxes!! Oh!!!— Posting Italian Elon Musk until he sells this site (@Posting Italian Elon Musk until he sells this site) 1650904498
$44bn? What's he bought, an anytime return to Euston?pic.twitter.com/s18ATBEib4— Dave Maclean (@Dave Maclean) 1650915638
the minds behind "the subway but with traffic jams" can now revolutionize twitterpic.twitter.com/hsniFoIBqj— The Gregory Brothers (@The Gregory Brothers) 1650915275
Sooo\u2026\u2026https://twitter.com/tombrady/status/1514633494902808585\u00a0\u2026— Tom Brady (@Tom Brady) 1650915032
Twitter: We will not sell to Elon Musk.\n\nAlso Twitter: We will sell to Elon Musk.— Douglas A. Boneparth (@Douglas A. Boneparth) 1650887721
I hope Elon Musk does what he does best and launches Twitter into fucking space— Charlie (@Charlie) 1650917994
Everyone who has been on Twitter before Elon Musk bought it now has this official and authentic badge. \n\n\u2026assuming this platform lasts long enough to make us veterans.pic.twitter.com/Q6LG6tsHA1— Sir Simon A. \uea00 (@Sir Simon A. \uea00) 1650917951
Elon Musk buys Twitter!\nSuspended accounts coming back be like - \n#TwitterTakeover #ElonMuskBuyTwitterpic.twitter.com/a68zy6JiPk— Rudraksh Roy (@Rudraksh Roy) 1650918287
Now all that\u2019s left is for Elon Musk to recreate this photo #TwitterTakeoverpic.twitter.com/RDp1ANpP2e— Ollie Efesopoulos \u2022 Filmshape (@Ollie Efesopoulos \u2022 Filmshape) 1650918232
Lol, it\u2019s just such an obviously bad investment though, isn\u2019t it. That\u2019s the bit I can\u2019t get past.— Mike Bithell (@Mike Bithell) 1650915148
Reader, he bought this website for $44 billion instead.pic.twitter.com/4kFkymO6lu— Working Families Party \ud83d\udc3a (@Working Families Party \ud83d\udc3a) 1650916766
Really puts the Harry Maguire fee into perspective.https://twitter.com/WIRED/status/1518677069944737793\u00a0\u2026— Jonny Sharples (@Jonny Sharples) 1650918215
If Elon Musk buys Twitter, I\u2019m never signing in again until five minutes later when I\u2019m bored and open the app without thinking— Mike Drucker (@Mike Drucker) 1650902847
elon musk\u2019s posts are funny and epicpic.twitter.com/TCABJnZi3w— raandy (@raandy) 1650892473
I hope a weird guy doesn't buy Email— Brooks Otterlake (@Brooks Otterlake) 1650927792
Remember like two weeks ago when Elon was like \u201ctell me how to end world hunger and I\u2019ll do it\u201d and then he bought twitter for $44 billion instead— river butcher \ud83e\udd20 (@river butcher \ud83e\udd20) 1650916107
elon musk really bought twitter for $45 billion when i got that sh\u0456t for free on the app store— kira \ud83d\udc7e (@kira \ud83d\udc7e) 1650905380
Musk's offer came after buying a nine per cent stake in the company and joining its board. He then decided he wanted to "unlock the potential" of the platform and offered his takeover bid.
Twitter initially resisted and enacted an anti-takeover measure known as a "poison pill" to make it more difficult and expensive to acquire. The board later opted to negotiate after Musk updated his proposal.
Following the agreement, Musk described Twitter as “the digital town square” in a joint statement with the social media platform.
"Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” he said, adding that he wants to make Twitter "better than ever."
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