The Twitter logo and a photo of Elon Musk on a smartphone screen, October 4, 2022 in Washington (AFP / OLIVIER DOULIERY)
Elon Musk has officially taken control of Twitter for $44 billion, ushering in an uncertain new era for this major influencer platform, under the leadership of one of its staunchest critics.
“The bird is released,” tweeted the boss of Tesla (electric vehicles) and SpaceX (spaceflight) on Thursday evening.
“Let the party begin”, added Friday the whimsical leader, whose provocations arouse the admiration of some and the disgust of others.
He then announced that he intended to provide the social network with a “content moderation council with very diverse points of view”.
“No major decision on content or account reactivation will take place without the intervention of the council,” said the multi-billionaire, who has set himself up as the ultimate defender of freedom of expression.
Elon Musk now has all the power, since he has decided to take Twitter out of the stock market.
“The merger between Twitter and X Holdings II”, a company “controlled by Elon Musk, was finalized on October 27”, notified the New York Stock Exchange (NYSE) on Friday morning. “All shares of Twitter were exchanged for $54.20 in cash,” she said.
As of Thursday evening, the new owner fired the platform’s boss, Parag Agrawal, and two other executives, chief financial officer Ned Segal and head of legal affairs Vijaya Gadde, according to unnamed sources from CNBC and the Washington Post.
Asked by AFP, Twitter did not confirm the information.
But Ned Segal thanked his former colleagues on Twitter on Friday for the “most fulfilling” period of his career.
Twitter is capable of “democratizing communication and knowledge”, he tweeted. “It is a huge responsibility for all who work in this direction. I wish them strength, wisdom and foresight,” he wrote.
– “Helping humanity” –
Elon Musk
had until Friday to complete the acquisition of the social network, failing which a trial would have taken place in November.
Twitter share price on the New York Stock Exchange since March 2022, and the latest developments (AFP/)
The operation had been dragging on since the announcement at the end of April of a $44 billion acquisition offer, reluctantly accepted by Twitter. The entrepreneur sought to get out of it unilaterally in early July, accusing Twitter of having lied to him, but the company’s board of directors had taken legal action.
At the beginning of the month, a few days before the opening of a lawsuit that Twitter seemed on track to win, Elon Musk finally offered to close the transaction at the price initially agreed.
His arrival at the head of Twitter divides.
His supporters, especially the American right, approve of his absolutist vision of freedom of expression. But many employees, users, NGOs and elected officials fear that the platform will be even more invaded than it already is by abuse, from harassment to misinformation.
Photo montage of Twitter executive director Parag Agrawal (g) and network founder Jack Dorsey (d) ( TWITTER / – )
Elon Musk has opened the door to a return for Donald Trump, ousted from Twitter after supporting his supporters who took part in the storming of the Capitol in January 2021.
On Thursday, Elon Musk tried to reassure advertisers – who prefer to back their ads with consensual content – by saying he wanted to allow all opinions to be expressed on the site, without making it an “infernal” platform where everything would be allowed.
It is “important for the future of civilization to have an online public square where a wide variety of opinions can debate in a healthy way, without resorting to violence”, he wrote in a message specifically addressed to brands, which bring in the bulk of Twitter’s revenue.
He also assures that he did not undertake this acquisition because it was “easy” or “to make money”, but to “try to help humanity”.
– Dismissals? –
EU Internal Market Commissioner Thierry Breton has warned the billionaire that Twitter will have to comply with new EU digital regulations that force major platforms to moderate their content.
“In Europe the bird will fly according to our European rules,” Mr Breton tweeted.
Elon Musk at the inauguration of Tesla’s “mega-factory” in Grünheide, southeast of Berlin, on March 22, 2022 (POOL/Patrick Pleul)
Twitter, which had 238 million so-called “active” daily users at the end of June, attracts a smaller audience than a giant like Facebook, but many policymakers, businesses and the media.
Financially, the game looks tight for a company that has always struggled to generate profits and will also have to repay the $ 13 billion loan taken out by Elon Musk for its takeover.
The release of the Twitter rating gives him full latitude. He plans to lay off thousands of group employees, according to several American media.
Earlier this month, however, he said it was “essential” that his flagship Tesla be listed on Wall Street, “because if the public doesn’t like what Tesla is doing, the public can buy shares and vote differently. “, adding, hilariously: “It’s very important that I can’t just do what I want.