Elon Musk is officially the new owner of Twitter. What’s next?
Twitter is very likely to look different under the world's wealthiest man's ownership, but the question is how different?
MORE IN THIS SECTION
After months of back and forth between the two parties, Elon Musk has officially completed the $44 billion purchase as the new owner of Twitter.
The world's wealthiest man. CEO of Tesla and founder/CEO of SpaceX has begun the latest endeavor of his career.
Since it became apparent that Musk would eventually become the new Twitter owner, many have speculated how the social media conglomerate would change.
On his first full day on the job earlier this week, among his first orders of business as Twitter’s new owner was firing its top three executives.
Former CEO Parag Agrawal, former CFO Ned Segal and former Chief Legal Officer Vijaya Gadde were all fired, as well as Twitter’s general counsel Sean Edgett.
According to CNN, the three top executives will be paid a total of about $187 million after their firings.
More layoffs as expected in the coming days, as Nov. 1 is the date in which several employees are set to receive stock grants, The Washington Post reported.
Musk has said that one his biggest motivations for buying the Twitter platform is to address concerns of censorship.
“The reason I acquired Twitter is because it is important to future of civilization to have a common digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence,” Musk wrote in a statement.
“Twitter obviously cannot become a free-for-all hellspace, where anything can be said with no consequences!” he further wrote.
To this end, Musk announced that he will be forming a content moderation council featuring individuals with widely diverse viewpoints.
Musk stated that no content-related decisions would be made until that council is put in place.
Nonetheless, this announcement undoubtedly begs the question of whether Musk will reinstate the account of former President Donald Trump, who was banned from the platform following the January 6 insurrection and Capitol attack.
Further questions have already risen about Kanye West, whose account privileges were limited after he posted antisemtic responses.
These two questions bring concern as to whether less regulation on tweets will lead to more hate speech and disinformation.
The bottom line is that Twitter is sure to be different with Musk now at the helm. Only time will tell just how different.