Elon Musk Says He Bought Twitter To Save Humanity
Elon Musk claims the "the future of civilization" depends on his purchase of Twitter.
Tech billionaire Elon Musk recently stated that he purchased Twitter “because it is important to the future of civilization.” Musk’s post indicates that the deal is expected to be finalized before e its 5 pm deadline in Delaware on Friday. He added that while the purchase wasn’t easy, he ultimately did it to “help humanity.”
We reported a couple of weeks ago that Elon Musk was so desperate to seal the Twitter deal that he even began a hawking perfume called Burnt Hair. The tech giant has seemingly stopped at enough to purchase the social media platform and ensured everyone knew his intentions. Despite Musk’s use of the past tense, it should be noted that he’s yet to legally own the social media platform at the time he made the post.
The company has continued to trade on the New York stock market amidst Elon Musk’s postings. Twitter’s shares rose by 1% on Thursday, indicating market confidence in the purchase. The Telsa CEO suggested he would’ve been willing to reduce the agreed $54.20 per share deal.
Aggressive negotiations have been at the heart of this deal between Elon Musk and Twitter. At one point, the tech giant demanded Twitter to prove that fewer than 5% of its users were made up of bot accounts. He claimed his bid to purchase the platform would only proceed if the company provided him with an accurate, verifiable sampling of 100 Twitter accounts.
This eventually led to a public debate between Elon Musk and Twitter CEO Parag Agrawal. The former head of security for Twitter, Pieter Zatko, then made allegations about the company’s dealings. According to The Hollywood Reporter, Musk and his legal team took this as another reason to back away from the deal.
Zatko claimed the company’s data centers were at risk, which would’ve caused much of its activities to be offline. He also claimed the U.S. government had given Twitter a tip that there could’ve been employees working for foreign intelligence agencies. Obviously, this didn’t sit well with Elon Musk and his legal team.
After Elon Musk originally retracted his $44 billion dollar offer due to the concerns he had with Twitter, the two sides battled one another in court. According to a CNN Business report, the judge overseeing Musk’s trial denied his request to delay it. Twitter shareholders later approved a measure to allow the tech giant’s original deal to go through.
The judge then agreed to stay the trial, which gave Elon Musk until 5 pm on October 28th to seal the deal finally. Judging by his latest Twitter rambling, it appears the tech giant may’ve just done so. If Musk didn’t complete the deal by the noted time, the judge would have no choice but to set another trial date.
Maybe the fragrance ploy by Elon Musk has done the trick; who knows. As for now, it’s probably safe to say that Musk will become the new owner of Twitter by next month. We’ll have to see how the tech giant decides to change things within the company and who will be significantly affected by the change.