Mega billionaire narcissist and emerging cartoon villain Elon Musk is close to purchasing Twitter for $54.20 per share of stock:
"Reports that a deal is imminent come after Musk revealed last week he had lined up $46.5 billion in financing to acquire the company. Twitter’s board met Sunday to evaluate Musk’s offer to buy all the shares of the company he does not currently own for $54.20 a piece, a source familiar with the deal confirmed to CNN. The source said that discussions about Musk’s bid have turned serious. [snip]
If approved, the deal would put the world’s richest man in charge of one of the world’s most influential social media platforms. Musk has repeatedly stressed in recent days that his goal is to bolster free speech on the platform and work to “unlock” Twitter’s 'extraordinary potential.'”It wouldn't surprise many if Musk re-opened the platform to a multitude of anti-vaxx conspiracy theorists, QAnon cultists, right-wing insurrectionists and the Malignant Loser himself. Musk himself has chafed under the restrictions of Twitter, as Jessica J. González noted in a recent opinion piece arguing against his acquisition of Twitter:
"For one thing, he has a poor track record of protecting other Twitter users and respecting their free speech. He has used the platform to discredit and disparage those who disagree with him, and he has lashed out at journalists who have written or produced things he didn’t like.
Further, he has used the platform to sow doubt about Covid-19 vaccines. And he has been accused of making false statements about Tesla on Twitter, an allegation that resulted in a $40 million settlement with the SEC that required Musk and Tesla to pay $20 million each and Musk to step down as the company’s chairman. Musk accepted the deal with the SEC 'without admitting or denying the allegations of the complaint,' according to a court document.
If Musk’s incendiary past is Twitter’s future, users are right to be worried about the ways the multibillionaire would attempt to transform the platform should he become its owner." (our emphasis)
In a world where the accumulation and concentration of wealth (equals power) represents a threat to our democratic institutions, having the world's wealthiest person own and rule over a social media platform used by hundreds of millions of people globally is ominous and chilling, particularly by a right- libertarian who exhibits signs of megalomania. Sadly, it appears that the greed of Twitter's board and investors will hand the company over to Musk.
UPDATE: The NAACP appeals to the new owner --
"Mr. Musk: free speech is wonderful, hate speech is unacceptable. Disinformation, misinformation and hate speech have NO PLACE on Twitter. Do not allow 45 to return to the platform. Do not allow Twitter to become a petri dish for hate speech, or falsehoods that subvert our democracy. Protecting our democracy is of utmost importance, especially as the midterm elections approach. Mr. Musk: lives are at risk, and so is American democracy."
(photo: Mark Mahaney / TIME)
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