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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsElon Musk's Hand-Picked Twitter Investors Confirm Some of His Critics' Worst Fears
Tesla CEO Elon Musk has corralled a group of 19 billionaires, firms, and funds to invest more than $7 billion to finance his takeover of Twitter, which hes said he pursuing in the name of free speech. Musk is on the hook for $44 billion to buy the platform, which he wont be able to afford unless he pledges his Tesla shares for a loan. With these new investors, though, hell only have to personally put up half that amount.
Musks purchase has been cheered by figures on the right and far-right and who insist that Twitter persecutes them out of political bias, and Muskwhose politics arent entirely clear-cuthasnt dissuaded the notion, even been criticizing the left for being too extreme. At the same time, his bid has worried researchers and users whod prefer that Twitter not roll back efforts to keep the worst of the worstNazis, QAnon boosters, extreme anti-vaxxersoff the platform. Musk hasnt gotten into many specifics about alter hed change about the companys policies. He also may not be able to dramatically change how moderation works on Twitter given restrictions like the European Unions forthcoming Digital Services Act, which will require social media sites to more forcefully regulate content.
But his choices of co-owners may be telling. In addition to a fairly typical assortment of Silicon Valley venture-capital firms and heavyweight foreign investors, there are a number of prominent Donald Trump supporters as well as advocates for looser moderation policies on social media and a major crypto exchange, who are surely thrilled to be in businesses with the planets most prominent booster of Dogecoin. Maybe theyre all there to make a buck: Musk pitched these investors on ambitious plans to grow Twitter by cutting down on costs and monetizing tweets. Just as likely, they want to make Twitter the social network theyd like to see in the world. Heres a guide to the investors who may soon own a piece of Twitter.
Lawrence J. Ellison Revocable Trust
Larry Ellisonthe multibillionaire founder of Oracle and Donald Trump supporter pledged to invest $1 billion in Musks purchase. Ellison claims to be a close friend of Musks and joined Teslas board in 2018. Ellisons Oracle almost got to take over part of TikToks U.S. operations in what appeared to be a sweetheart deal during the Trump administration. It withered after Trump lost re-election, but now Ellison may get another bite at the social-media apple.
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https://www.msn.com/en-us/money/savingandinvesting/elon-musks-hand-picked-twitter-investors-confirm-some-of-his-critics-worst-fears/ar-AAX022f
dchill
(38,505 posts)"...Pretty soon you're talking real money."
stopdiggin
(11,317 posts)as far as either business operations - or 'content.' And Musk's statements make it clear that this is not something that he's spent a lot of time on. I hope his 'investors' know that they've hitched themselves to the 'mad scientist' version of business and finance. Oh, wait - second thought, maybe not.
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Response to Yo_Mama_Been_Loggin (Original post)
Chin music This message was self-deleted by its author.
LessAspin
(1,155 posts)Fascism is taking a foothold in Silicon Valley (Larry Ellison, Peter Thiel, Elon Musk...).
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