- Elon has acquired Twitter but may introduce several changes to the platform
- There are speculations that Musk may begin to charge subscriptions for using Twitter
- Also, the billionaire may turn the platform into a super app incorporating shopping, messaging, food and social media
The world's wealthiest man, Elon Musk has said he did not buy Twitter to make more money but to open it up and make it a town square for free speech.
Analysts have speculated about the possible changes Musk may bring to the microblogging site.
It is already known that the Tesla CEO fired Parag Agrawal, the CEO and CTO of the company, as the deal closed on Thursday, October 27, 2022.
More Twitter staff to go
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But there are assumptions that he may fire about 75 per cent of the workforce and bring in new people he can work with.
Forbes reports that Musk, who has had a hostile relationship with Twitter for censoring some of his tweets, intends to lay off most of the old staff.
Subscription and e-commerce
According to Forbes, the billionaire has mulled several changes, including charging a small fee and reducing the number of bots on the platform.
He has also said he may use his new $44 billion platform to build what he calls Twitter X, after his space exploration firm, SpaceX.
He may remodel the platform after Tencent, Chinese-owned WeChat, which incorporates payment, e-commerce, messaging, food and social media.
He may also revoke the lifetime bans of former president Donald Trump and rapper Kanye West who were booted off the platform.
The Billionaire businessman stated why he completed the $44 billion deal to purchase the social media platform Twitter. The world's richest man, Musk disclosed this in a statement on his Twitter page, declaring that his intent is not to make money but to try to help humanity.
The Tesla CEO noted that he hopes the platform will become a place where beliefs can be debated without resorting to violence.
I acquired Twitter because it is important to the future of civilization to have a common digital town square where a wide range of beliefs can be debated healthily without resorting to violence.
There is currently great danger that social media will splinter into far right-wing and far left-wing echo chambers that generate more hate and divide our society." In the relentless pursuit of clicks, much of traditional media has fueled and catered to those polarized extremes, as they believe that is what brings in the money, but, in doing so, the opportunity for dialogue is lost.
"Twitter obviously cannot become a free-for-all hellscape where anything can be said without consequences!"
Meanwhile, Twitter has announced Matt Wallace as new Twitter CEO after Musk fired Parag Agrawal following his take over the platform.
Wallace tweeted on Friday, October 28, 2022 that "I am honored to be selected by Elon Musk as the new CEO of Twitter. Will work hard to protect free speech and integrate."
There is yet to be an official statement by Twitter on the new CEO.
Elon Musk officially acquires Twitter as deal closed, may upturn Trump, Kanye West bans
Legit.ng reported that according to multiple reports, the world’s richest man, Elon Musk, has officially acquired Twitter after completing the $44 billion deal to take over the microblogging site on Thursday.
Forbes reports that Musk immediately went to work and fired the company’s CEO, Parag Agrawal and other top executives in the company.
After taking over the firm, one of his first directives appeared to be firing frontline staffers, including Chief Finance Officer Ned Segal.