On Monday, the Twitter board agreed to a $44 billion buyout from SpaceX and Tesla CEO.
Employees, users uncertain on future of Twitter.
Many Questions Go Unanswered, as Elon Musk Offers A Deal to Buy Twitter.
The Twitter board has received a staggering offer from the ambitious billionaire Elon Musk to buy out the company. On Monday, the Twitter board agreed to a $44 billion buyout from SpaceX and Tesla CEO. However, the additional details are still unknown about the deal, leaving employees and users uncertain about the future of the social networking service. Even Elon himself has not shared many details about in which direction he wants to steer Twitter once he takes up the company despite many criticisms offered by him in the past. Neither it is clear who will head the company.
The Twitter board has agreed to accept Tesla CEO’s offer to buy the social media site. Under the terms of the buyout deal, the ambitious billionaires will be paying $54.20 per share in cash stating it as the “best and final offer” for Twitter’s officials. On Monday, Twitter released some details regarding the deal stating that Elon Musk is providing a sum of $21 billion in cash while securing $25.5 billion of debt and margin loan financing. So far, the only certain details are Elon’s clear intentions to buy one of the most popular social media platforms. Users, investors, employees, and politicians are impatiently waiting for what the future hold for Twitter.
This uncertainty will be raising some important questions for sure:
Who Will Be the Captain of The Ship?
One of the prime questions is who will Musk appoint to lead as the new CEO. The current CEO Parag Agrawal has only been leading the company for five months succeeding the co-founder Jack Dorsey. Shortly after joining, he had to deal with Musk, who got the stocks up about 9% and agreed to join the board briefly. Musk, then scrapped the agreement and chose to acquire the entire company. It seems to dislike for the pair to continue forging a future ahead. Agarwal said in his statement. “Twitter has a purpose and relevance that impacts the entire world. I am deeply proud of our teams and inspired by the work that has never been more important.”
Who Will Board the Ship?
The board, which is led by Bret Taylor, Co-CEO Salesforce tried to overcome a potential hostile takeover from Elon Musk that came in after Musk broke his commitment to his agreement to get on board of the directors. Musk is likely getting a chance to wipe the slate clean and find a list of candidates that might help him in this long journey. The question still stands, could Musk join forces with his fellow billionaires?
How much control will Musk have on Twitter?
Twitter has only stated that the company is being acquired by Elon Musk nowhere clears how much control the multi-billionaire will exert.
Musk currently owns Tesla, which has a market cap value of $1 trillion, and SpaceX, which has a private market value of $100 billion. While he has start-ups like the Boring Company and Neuralink in his bag as well.
Will Musk take a page out of the diary of Jeff Bezos when he acquired the Washington Post and allow independent management to run the company or will he run a one-man show? While it may take some time to see how the content of the site will progress and whether high profile people kicked out by the site will return or not.
What Will the New Twitter Look Like?
Musk has gathered opinions on Twitter features from 83 million followers on what changes they want to see on Twitter including the addition of features like an edit button. Does this leave everyone thinking is this the way new changes in Twitter be introduced? In the release, he said that Free speech is the base of an operational democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated. Twitter has tremendous potential — I look forward to working with the company and the community of users to unlock it.”
What does Musk mean by free speech? In a tweet on Monday, he wrote, “I hope that even my worst critics remain on Twitter because that is what free speech means.”
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What Will Be the Future of Twitter Employees?
By taking over Twitter, Musk will have to devise an extensive plan and a completely new structure for Twitter’s employees as existing rewards and stock grants are no longer applicable. The tech industry is already under pressure and have become more competitive than ever. If Musk decides to remove content-moderation practices, many employees will become irrelevant.
