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A 9 per cent stake in Twitter is not enough for bong-ripping billionaire Elon Musk. The Tesla CEO has launched an audacious bid to buy the entire social media behemoth for $40 billion to release its “extraordinary potential”.
The 50-year-old was offered a seat on the company’s board but refused to take the position as he feels the site “needs to be transformed as a private company” and that he has no “confidence in [Twitter’s current] management”.
Instead, he has filed a request from the US Securities and Exchange Commission (SEC) to buy all of Twitter’s 736 million shares, stating: “I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy.”
Musk, the richest man in the world, appears to be taking the Game of Thrones-like buyout very seriously. He has even hired Morgan Stanley to advise him on the potential takeover.
With Elon ready to take the helm of one of the biggest platforms in the world, what features could we expect? An edit buttons? A Bitcoin tip jar? Or a reinstatement of Donald Trump?
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It may not be as groundbreaking as colonising Mars. But Elon Musk purchasing Twitter could mark a big change to Big Tech.