Elon Musk Details Plans for Twitter After Buyout Deal of the Social Media Platform

By Mary Webber First Posted: May 03, 2022 10:09 PM EDT

Billionaire Elon Musk shared his plans for Twitter comprehensively after announcing that it reached a buyout deal with the social media platform.

The Daily Wire reported that Musk has promised a more "inclusive" experience for everyone while also committing to getting rid of the platform bots.

The Tesla CEO revealed more of his plans for Twitter on Monday, during the Met Gala's red carpet, where he was accompanied by his mother.

Musk said that the goal is for Twitter to be "as broadly inclusive as possible where ideally most of America is on it."

He also cited his old promises for Twitter, such as getting rid of the bots, trolls, and scams, among others, which he described as factors diminishing the user experience.

Musk said that he is "on the warpath," adding that if somebody is operating a bot and troll army, then he is "definitely their enemy."

Elon Musk Twitter Plans

Reuters noted that Musk aims to take Twitter public again in as little as three years of buying the social media company, as reported by the Wall Street Journal.

People familiar with the matter cited that Musk has told potential investors that he plans to stage an initial public offering to return Twitter to public markets.

Twitter has yet to comment on the report of making the social media platform public again after the buyout deal. Meanwhile, Musk cannot be reached to comment on the matter.

Unnamed sources also cited that Musk has options for a new chief executive officer for Twitter a week after making a $44 billion bid to buy the social media company, as reported by WION News.

Musk has expressed his dissatisfaction with Twitter's management on various occasions, which included a securities filing on April 14.

Twitter CEO Parag Agrawal was expected to continue in his position until the firm is sold. Sources also noted that other top executives may be laid off after the acquisition is completed.

Agrawal replied to a Twitter user's question about whether Agrawal had been dismissed. It was dated April 28.

The Twitter CEO replied, "nope," adding that they are still with the company.

Agrawal was unanimously chosen by the board of directors following Jack Dorsey's resignation from the social media company.

Elon Musk Twitter Buyout Deal

The new financing for Twitter's buyout deal could come in the form of preferred or common equity, which could reduce the $21 billion cash contribution that Musk has committed to the deal, according to another Reuters report.

The banks involved in the funding have committed to providing $13 billion in loans based on Twitter's business balked at offering more debt for Musk's acquisition.

In addition, the Tesla tycoon has pledged some of his Tesla shares to banks to arrange a $12.5 billion margin load to help fund the deal.

One of the sources said that Musk may seek to trim the size of the margin load based on the new investor interest in the financing.

This article is owned by Latin Post.

Written by Mary Webber

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