Tesla CEO Elon Musk said to a Discussion Board audience in Vancouver, “If I had a Dogecoin for every cryptocurrency scam I witnessed…” Elon Musk, the CEO of Tesla and SpaceX, stated he might “essentially spend” to buy Twitter fully and has plans to improve the leading social media platform’s experience for users. Musk has reported a combined wealth of far more than $300 billion.
Musk informed presenter Chris Anderson at a TED Talks on Thursday that if his proposal to acquire Twitter is accepted, he will explore modifying the manner the network manages sensitive information by not boosting particular tweets and providing the option to modify tweets as much as he sees the history of those edits. According to the Tesla CEO, Twitter should be “disinclined to remove stuff” and ban people users under his leadership. Still, he would work to promote free expression in accordance with local regulations.
“A prime concern for me would be to eliminate the trash and fraud bots and the bot legions on Twitter,” Musk stated. “They wreak havoc on the economy.” We’d have 100 billion Dogecoin if I had a Dogecoin per each cryptocurrency fraud I observed.”
Musk proposed to buy Twitter’s shares — except for the nearly 9% that he currently holds — for $54.20 per share, a 38 percent profit over the stock’s current share price on April 1st, according to a Wednesday filing with the US Securities & Exchange Board. Twitter’s stock was trading at $45.08 at publishing, up more than 30% in the previous 30 days.
The possibility of the Tesla CEO owning the famous social platform drew varied reactions. Many applauded the decision as a step forward for free expression, whereas others criticized Musk’s apparent immaturity on Twitter and his enormous riches.
“It needs some pretty incredible mental contortions to link any kind of ‘freedom’ with the wealthiest man conducting a takeover attempt and taking one of its biggest public social networking sites private,” Dogecoin’s founder Jackson Palmer.
Both Musk’s Twitter stock option and his bid to take over the company had no impact on the value of Dogecoin (DOGE). Musk was the top corporate shareholder as of April 4, but Vanguard Organization apparently overtook him on Thursday, increasing its stakes to even more than 10% of Twitter’s equities.
Leave a Reply