![]() only part time-and yet someone has to corral its potential for damage. No one wants to take too much responsibility for it-for years, Jack Dorsey was its C.E.O. Sometimes Twitter feels like the hot potato of the Internet, or perhaps more like a zone of nuclear radiation. Twitter’s status as both a total mess and extremely influential makes it an eternal target: it inspires strong opinions, including strategies to fix it and calls to just shut it down entirely. Yet Twitter is still at the center of culture-war debates and remains a pulpit from which to troll public discourse, even after the ban of Donald Trump, in 2021. Its advertising-based business model has barely changed since it launched in 2006. It has failed to keep pace with its competitors, such as Facebook and TikTok, and its updates and new features have arrived only intermittently and confusingly, often angering users. Twitter is a notoriously dysfunctional business. What’s less clear is his motive for pursuing Twitter in the first place. If Musk can assemble the funding, a deal of some kind seems set to happen. Musk himself is worth about two hundred and eighty billion dollars, thanks in large part to Tesla’s more-than-trillion-dollar market capitalization, and he has committed twenty-one billion dollars of personal equity to take Twitter private. ![]() Musk’s efforts have kicked off a corporate drama worthy of “ Succession,” inciting discussions of hostile takeovers, proxy battles, and board replacements to push the deal through. The offer valued the company at around forty-three billion dollars, well above its current market capitalization of almost thirty-six billion dollars. ![]() Then, on April 14th, Musk offered to buy the rest of Twitter and take it private, for fifty-four dollars and twenty cents a share. It briefly appeared that he would become a board member, a move that was announced by Twitter’s C.E.O., Parag Agrawal, but that possibility dissipated by April 10th. On March 14th, Elon Musk bought slightly more than nine per cent of Twitter, making him the public company’s largest outside shareholder. ![]()
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