Tesla. SpaceX. The Boring Company. Now Elon Musk has another company in his portfolio: Twitter. The world’s wealthiest man has purchased social media giant Twitter for $54.20 per share, or approximately $44 billion. Musk intends to take Twitter private and will thus have total control over the company. The deal is expected to close this year. Musk said of his plans:
Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated. I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans. Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it.
The Electronic Frontier Foundation has other suggestions, including better and more transparent content moderation and the preservation of anonymous and pseudonymous accounts. We’d also like to see Twitter acknowledge and integrate the work of the Center for Humane Technology to reduce the many harms that it and other tech platforms inflict on society.