Capitol attack by his supporters, Musk tweeted: "A lot of people are going to be super unhappy with West Coast high tech as the de facto arbiter of free speech." Capitol.Īfter Twitter banned Trump over concerns around incitement of violence following the U.S. No regulatory hurdles are expected, analysts said.ĭaniel Ives, an analyst at Wedbush, said the company's board of directors had its back "against the wall" once Musk detailed his financing package and no other bidders emerged.Īlthough it is only about a 10th of the size of far larger social media platforms like Meta Platforms Inc's (FB.O) Facebook, Twitter has been credited with helping spawn the Arab Spring uprising and accused of playing a role in the Jan. ![]() The Twitter transaction was approved by the company's board and is now subject to a shareholder vote. Still, Musk's 84 million-strong Twitter account is seen as an important, free public relations and marketing tool for Tesla. ![]() read moreĮdward Moya, an analyst at currency broker OANDA, said in an email to clients the deal was "great news for Twitter shareholders as it doesn’t seem like the company was going to get things right anytime soon."īut he also said: "Tesla shareholders can’t be happy that Musk will have to divert even more attention away from winning the EV (electric vehicle) race." "Once the deal closes, we don't know which direction the platform will go," Agrawal told employees on Monday. Musk is chief executive of both electric car maker Tesla Inc (TSLA.O) and aerospace company SpaceX, and it is not clear how much time he will devote to Twitter or what he will do. I don't care about the economics at all," he said in a recent public talk. "Having a public platform that is maximally trusted and broadly inclusive is extremely important to the future of civilization. ![]() Musk, who is worth $268 billion according to Forbes, has said he is not primarily concerned with the economics of Twitter. Twitter said Musk secured $25.5 billion of debt and margin loan financing and is providing a $21 billion equity commitment.
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