Twitter Takeover: Changes Elon Musk seeks to make
Elon Musk, world's richest person, according to Forbes magazine, will take over Twitter after he struck a deal to buy the platform for $44 billion on Monday.
The deal, to which the board of Twitter has agreed, is pending approval by shareholders. It is expected to close later this year.
Upon completion of the transaction, Twitter will become a privately held company run by an entity wholly owned by Elon Musk, Twitter, Inc. said in a statement.
Elon Musk promises to lessen moderation on Twitter. He has earlier been critical of the platform’s moderation policies.
The billionaire says Twitter needs to be a genuine forum for free speech and promises to implement series of changes “to make Twitter better than ever.”
“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,” Musk said in a statement.
“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.”
The changes Elon Musk seeks to introduce include allowing longer posts on the platform from the longstanding 280 characters, in addition to making it possible to edit posts on Twitter after they have been published.
However, the takeover and the proposed changes to Twitter policies have human rights organisations worried that it could fuel hate speech online.