Will Musk buy Twitter?

Stuff reports:

Tesla CEO Elon Musk won’t be joining Twitter’s board of directors as previously announced. The tempestuous billionaire remains Twitter’s largest shareholder.

Twitter CEO Parag Agrawal tweeted the news, which followed a weekend of Musk tweets suggesting possible changes to Twitter, including making the site ad-free. Nearly 90 per cent of Twitter’s 2021 revenue came from ads.

This is no surprise as Musk is not suited to the discipline of being a board member.

Musk purchased 9% of the company because he wants to make changes to it. He has a huge following with 81 million followers and he is opposed to Twitter becoming more of a censor.

The catalyst was Twitter suspending the right wing satirical site The Babylon Bee because of a satirical story announcing Rachel Levine as their Man of the Year, after she was named one of 12 Women of the Year by USA Today. Musk is a huge fan of the Babylon Bee and even did a two hour interview with them.

So he is now Twitter’s largest shareholder. I wonder if he might purchase a majority shareholding in the company. It is worth US$37 billion and 51% would be around US$18 billion. Musk is worth around US$274 billion so he could do it for less than 10% of his wealth.

I hope he does.