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Elon Musk buys Twitter for $44bn

Elon Musk has prompt a brand new title for Donald Trump’s Reality Social app as he accused Twitter, which has simply agreed to purchase for $44bn, of censorship.

The Tesla boss, whose takeover of the San Francisco-based platform was introduced earlier this week, took to Twitter to match it to to the previous president’s personal social media firm.

“Reality Social (horrible title) exists as a result of Twitter censored free speech,” Mr Musk tweeted. “Needs to be known as Trumpet as a substitute!”

]Musk pays $54.20 money per share for the San Francisco-based firm, which can now be taken personal after days of intense negotiations between the entrepreneur and the platform’s board.

The board introduced it had reached a cope with Musk on Monday, and that it represented a 38 per cent premium from Twitter’s closing value on 1 April, the day earlier than the world’s richest individual made his transfer for the corporate by saying his 9 per cent stake.

Musk will seemingly make some vital adjustments to the social media platform, having made a number of hints in current months about what his intentions are. It comes after Musk’s buddy Dorsey stepped down as CEO and Parag Agrawal took over.

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Elon Musk unable to flee SEC ‘b******s’

Elon Musk remains to be dealing with the implications of a tweet he made 4 years in the past about taking Tesla personal at $4.20 a share.

The US Securities and Alternate Fee pressured him to pay a wonderful on the time, in addition to have all future tweets about Tesla to be checked by a lawyer earlier than he posts them. He claims it infringes his free speech, calling the regulators “bastards” at a current TED occasion, however a federal decide simply denied that the settlement be scrapped.

Anthony Cuthbertson28 April 2022 12:48

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Twitter reportedly tells advertisers it is going to be secure for manufacturers even after Musk takes over

A brand new report from the Monetary Occasions suggsts that Twitter has written to businesses to reassure them that their adverts should not positioned alongside dangerous or offensive content material. Twitter declined to remark.

“Twitter has made some strides in tackling on-line hate and extremism in recent times, and so whereas we wish to be cautiously optimistic about how Elon Musk will run the platform, he has not demonstrated any give attention to these points up to now,” Jonathan Greenblatt, chief govt of the Anti-Defamation League which organised a boycott in opposition to Fb in 2020, stated. “We fear that he may take issues in a really totally different route.”

Issues have come from Mr Musk’s declare that he’s a “free speech absolutist”, as content material like hate speech and different abusive posts are permitted underneath the First Modification – and Mr Musk has stated that Twitter “ought to match the legal guidelines of the nation and actually there’s an obligation to do this”

Adam Smith28 April 2022 11:07

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May Tesla put the Twitter deal in jeopardy?

Tesla shareholders are involved the deal may imply Elon Musk promoting numerous Tesla shares.

A part of the cash is raised utilizing loans, however $21bn of the fairness will should be supplied by Mr Musk himself.

Nevertheless, Tesla shares are falling – 12.2 per cent from simply over $1tn to $906bn.

“If Tesla’s share value continues to stay in freefall that may jeopardise his financing,” Oanda senior market analyst Ed Moya informed the BBC.

Adam Smith28 April 2022 10:41

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Elon Musk placing the cocaine again in Coca-Cola

For his subsequent trick, Musk jokes he’s going to place the cocaine again in Coca-cola (The primary publicly offered bottle of Coca-Cola in 1894 apparently contained round 3.5 grams of cocaine.)

When somebody shared a photoshopped tweet claiming he was going to purchase McDonald’s and “repair all the ice cream machines”, Musk replied: “Pay attention, I can’t do miracles OK.”

Anthony Cuthbertson28 April 2022 10:05

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Musk loses authorized battle

Elon Musk’s attorneys had sought to terminate a 2018 consent decree that resolved SEC securities fraud costs following a tweet that introduced that he was fascinated by taking Tesla personal at $420 (£327) a share, including that he had “funding secured”.

The tweets, which had been discovered to haven’t any foundation in accordance with regulators, precipitated market fluctuation and because of this, the SEC charged Musk for “deceptive traders”.

Mr Musk argued that having to have his tweets checked by attorneys – a subsequent penalty for his motion alongside a $20 million wonderful – “crossed the road into harassment” and impeded his constitutional proper to free speech.

Nevertheless, Choose Lewis Liman inrejected these arguments.

“Musk can’t now search to retract the settlement he knowingly and willingly entered by merely bemoaning that he felt like he needed to comply with it on the time however now — as soon as the specter of the litigation is a distant reminiscence and his firm has change into, in his estimation, all however invincible — needs that he had not,” wrote Liman.

Adam Smith28 April 2022 09:51

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Twitter says mass account deactivations after Musk takeover was ‘natural’

ICYMI: Following the announcement that Tesla chief Elon Musk would purchase out Twitter, a number of high-profile accounts together with that of former president Barack Obama, and singers Katy Perry and Taylor Swift noticed a drop in followers by a whole lot of 1000’s.

The social media firm has now confirmed that these account closures had been largely “natural” and never from the automated deactivation of bots and pretend accounts.

“Whereas we proceed to take motion on accounts that violate our spam coverage which may have an effect on follower counts, these fluctuations seem to largely be a results of a rise in new account creation and deactivation,” Twitter stated in an announcement.

Graeme Massie28 April 2022 04:58

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Elon Musk’s Twitter buyout in full

ICYMI: The excellent submitting with the US Securities and Alternate Fee accommodates greater than 46,000 phrases – the size of a brief novel – however studying by means of it there are some fascinating titbits.

Amongst them is a clause that Twitter should cease actively in search of a brand new or various purchaser, but when one approaches with a greater supply, then it may be thought of. If Twitter breaks off the cope with Elon Musk, it might want to pay him $1 billion. Particularly, if “Twitter terminates the Merger Settlement to permit Twitter to enter right into a definitive settlement for a competing acquisition proposal that constitutes a Superior Proposal.”

The complete submitting on the SEC web site will be discovered right here.

Graeme Massie28 April 2022 04:05

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Does Elon Musk shopping for Twitter put you off utilizing it?

ICYMI: With a whole lot of 1000’s of individuals showing to give up Twitter after information broke that Elon Musk had purchased it, we’re working a reader ballot to see how the buyout has modified consumer opinion.

We’ll have the outcomes for you as quickly as we now have them.

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Graeme Massie28 April 2022 03:03

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Elon Musk requires Twitter to be ‘politically impartial’

ICYMI: The Tesla boss, who had a $44bn bid for the social media platform accepted earlier this week, gave his newest thought on its political stance in a tweet.

“For Twitter to deserve public belief, it should be politically impartial, which successfully means upsetting the far proper and the far left equally,” he wrote on Wednesday.

Graeme Massie28 April 2022 02:05

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Elon Musk proves he’s an Impartial reader

The Tesla titan authorized of an Indepndent story on Jim Carrey responding to claims he’s one in every of “a number of totally different individuals” enjoying Joe Biden.

Mr Musk took to Twitter and responded to the story with a tears of pleasure and taking pictures star emojis.

Graeme Massie28 April 2022 01:19

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