How the world reacted to $43 billion Twitter bid by Musk: ‘frightened by the…’

  • Tesla chief Elon Musk launched a hostile takeover effort for Twitter on Thursday, insisting the platform needs to be transformed but acknowledging his $43-billion bid may fail.
Tesla chief Elon Musk waving onstage at the TED2022.(AFP)
Tesla chief Elon Musk waving onstage at the TED2022.(AFP)
Published on Apr 15, 2022 10:36 AM IST
Copy Link
By | Edited by Kunal Gaurav

The speculation about the Tesla CEO Elon Musk's interest in taking over Twitter was always there once the billionaire investor refused a seat on the board, but not many had expected that the offer would come this soon. Musk's shock offer to buy Twitter and take it private drew mixed reactions as the executive, who describes himself as a free-speech absolutist, advocates fewer limits on the type of content posted on the micro-blogging platform.

Many fear a possible lack of accountability and the impact of the social media giant on democracies in case of minimal moderation as they have been struggling to contain hate speech.

"Twitter is too important to be owned and controlled by a single person," tweeted venture capitalist Fred Wilson. "The opposite should be happening. Twitter should be decentralized."

"I am frightened by the impact on society and politics if Elon Musk acquires Twitter," tweeted Max Boot, a Washington Post columnist.

"He seems to believe that on social media anything goes. For democracy to survive, we need more content moderation, not less," Boot added.

Does Elon Musk have the funds to buy Twitter? What's next for social media firm?

There has been a lack of clarity on how Elon Musk would fund the all-cash offer given much of his money is tied up in Tesla stock and SpaceX. While reports suggest that Twitter is evaluating the offer, resistance from shareholders or board members can put Musk's offer in cold storage.

Saudi Prince Alwaleed bin Talal has already tweeted against the proposal, saying it's too low.

"I don't believe that the proposed offer by @elonmusk ($54.20) comes close to the intrinsic value of @Twitter given its growth prospects," he tweeted.

The tweet drew a sharp reply from Musk questioning Saudi Arabia's "views on journalistic freedom of speech."

Musk's stance on the approach to policing the platform's content, especially for the highest-profile instances of violations of its terms of services, has been contentious. Former US President Donald Trump has been permanently banned from the platform after his tweets and videos were followed by an insurrection at the US Capitol.

But Trump's supporters have been voicing their outrage over the company's decision.

Without naming the former US President, Musk said he doesn't think "we want to be just very reluctant to delete things and just be very cautious with permanent bans. Timeouts, I think are better."

The supporters of Musk's hostile takeover bid called it the "best news for free speech in years!"

Republican Senator Ted Cruz voiced his backing for less moderation.

"If the left thinks they're right, why are they so terrified of free speech?" he tweeted in reply to Boot's criticism.

(With AFP inputs)

Close Story

Less time to read?

Try Quickreads

  • (File/Reuters)

    Curious case of Pakistan's Sajid Mir, mastermind of 26/11 Mumbai terror attacks

    "Wanted: Dead or Alive" is the usual demand in the world of crime anywhere. But the living is declared dead in Pakistan's world of criminals and terrorists. This is the curious case of Sajid Mir, one of the masterminds of the 26/11 terror attacks in Mumbai, India, in 2008. This is why, and how, Sajid Majeed Mir has surfaced. The now ailing and exiled military ruler, General Pervez Musharraf would ridicule any talk of Pakistan hiding Osama Bin Laden.

  • (Representative Photo)

    South Africa makeshift nightclub death toll climbs to 20: Safety official

    The number of young people who have died at a makeshift nightclub in a township in South Africa's southern city of East London has risen to 20, a senior safety official said Sunday. "The number has increased to 20, three have died in hospital. But there are still two who are very critical," head of the provincial government safety department Weziwe Tikana-Gxothiwe said on local TV.

  • US president Joe Biden says ‘G-7 to ban Russian gold in response to Ukraine war’

    US president Joe Biden says ‘G-7 to ban Russian gold in response to Ukraine war’

    President Joe Biden said Sunday that the United States and other Group of Seven leading economies will ban imports of gold from Russia, the latest in a series of sanctions that the club of democracies hopes will further isolate Russia economically over its invasion of Ukraine. A formal announcement was expected Tuesday as the leaders meet for their annual summit.

  • US First Lady Jill Biden looks on as US President Joe Biden signs the Bipartisan Safer Communities Act into law, in the Roosevelt Room of the White House in Washington, DC, on Saturday. (AFP)

    ‘Do something’: Joe Biden signs rare bipartisan gun control legislation

    United States President Joe Biden signed a rare bipartisan bill which institutionalises a set of limited gun safety measures on Saturday into law. The first legislative reform in three decades on the issue was sparked by a recent spike in mass shoutings across the country, especially a hate crime in Buffalo that killed ten people and a school shooting in Texas that killed 19 children and two teachers.

  • People wait in a long queues to buy fuel for their vehicles at a filling station in Colombo, Sri Lanka.

    Sri Lanka hikes fuel prices as US delegation arrives

    Sri Lanka hiked fuel prices on Sunday, creating further pain for ordinary people as officials from the United States arrived for talks aimed at alleviating the island's dire economic crisis. Ceylon Petroleum Corporation said it raised the price of diesel, used widely in public transport, by 15 percent to 460 rupees ($1.27) a litre while upping petrol 22 percent to 550 rupees ($1.52).

Story Saved
Saved Articles
My Reads
Sign out
New Delhi 0C
Sunday, June 26, 2022