Musk, the richest man on the planet, and one of the craziest, too. He is known for his various companies such as Tesla, Space X and PayPal. Over the years, Elon has amassed a fortune of over 260 billion USD, most of it through "smart" investments. All his power and influence have us constantly wondering what he is going to do next, and his latest move was the surprising purchase of Twitter.
As you might know, Twitter is an extremely popular social media platform. Many countries' governments and important companies are now present on Twitter, and make numerous announcements through it. This makes it necessary for people to download and keep up with the news on Twitter. In addition, this gives Elon an immense amount of control over worldwide news.
Despite that, this is not why he bought it, according to him. He said he wanted to make sure the principles of value of speech were followed, and to do this he wanted to make changes that can only be done to the platform once it’s a private company.
Jack Dorsey, the founder and previous owner of Twitter, stated that Elon's purchase of twitter was "the right path" for the company. In fact, they have been friends for a long time since they share similar interests regarding Bitcoin and cryptocurrency, so it is no surprise Elon is the one who Dorsey would chose to take over his company. However, many people are wondering just how much nepotism was involved, and whether Dorsey was promised any benefits in exchange.
Some say that Elon has bought Twitter to control the amount of criticism he gets on there. In the past he has published tweets with private details of his companies, often leading to variations in the share prices of his companies. After doing so, he has often experienced a harsh backlash. Owning the company may be an extreme measure to get rid of haters, but Elon has money and the right to spend it.
The big question is: was this a waste of money? Yes, absolutely. Freedom of speech is out of Elon's control; even though it is a good goal, it is not achievable. And buying a company from a friend because you were lightly bullied seems a bit excessive.
What is clear is that it was unnecessary and childish for Elon to buy Twitter and he shouldn’t have done it. It was a waste of money and he is going to get hate on Twitter regardless of who owns it.