Twitter will not be listed on the stock market after being bought by Elon Musk

Twitter Elon Musk

Support us with crypto to keep our newspaper alive

The controversial deal between the CEO of Tesla and Twitter has been carried out. The price rose to $44 billion after negotiations previously canceled by Elon Musk, claiming excess bots on the platform. After finalizing the agreement, yesterday, Twitter will not be listed on the stock market.

With the support of Binance and even the intentions of the CEO of FTX to finance almost $15 billion of the deal, Musk has officially become one of the most influential men. However, Musk’s crusade goes much further, he considered it necessary to buy the company to end the political censorship of the social network.

After the purchase, Twitter will not be listed on the stock market

Twitter will not be listed on the stock exchange, since the agreement proposed to pay $54.20 per share to each of the investors. This would make Twitter not obliged to publish its quarterly reports as it is a private company.

Although according to Musk, Twitter could go public later, for now, the tycoon asked to focus on finances and a series of changes to the company. Among these changes, the dismissals of the majority of managers stand out.

Previously, Musk had been concerned about the lack of freedom of expression after the criminalization of former President Donald Trump of the social network.

Much of the Twitter and crypto community hopes the acquisition will make the social network a much more crypto-friendly environment. However, previously, the CEO of FTX offered Musk financing of $15 billion for the purchase of Twitter. Musk was uninterested, explaining that it would be very expensive and impossible due to bandwidth requirements.

Restructuring is inevitable

Earlier, Musk explained his concern about the company’s finances, even though Twitter will go public, the company’s new CEO has a clear mission. Musk wants to boost finances by creating subscription systems and even advertising programs.

On the other hand, he hopes to create a content moderation council, preventing decisions on individual or mass suspensions from falling on a single person. What Musk claims he did for “the future of civilization” could turn out to be one of Web 2.0’s biggest takeovers and turnarounds.