The whole world has recognized Elon Musk as one of the richest people in the world and is considered the most successful person. He is the owner of the Tesla electric car company which is very popular lately. Elon has succeeded in creating electric-powered cars that are environmentally friendly and available with many advanced features, including autopilot which allows the car to drive automatically.
The offer of very sophisticated features has succeeded in attracting many other rich people to buy it. Many people make reviews about how electric machines work and then upload them on social media, which makes Tesla even bigger.
Elon Musk is not only known as a genius but also known as a person who expresses a lot of controversial thoughts. He is a person who is very interested in the Metaverse world and wants to take part in developing artificial intelligence and making robots that are predicted to be of great help to mankind.
Not only that, but Elon is also very diligent in promoting his idea to create a human civilization on the planet Mars. Maybe we’ve also heard a lot about it. He also made technology a big thing.
Elon Musk Interested to Buy Twitter
Seeing some things that happened due to Elon’s very unique mindset, it turns out that he hasn’t stopped shocking the world by suddenly starting to buy the Twitter platform at a very fantastic price, which reaches USD 44 billion. This certainly attracts a massive reaction from the world community.
Twitter is the largest social media platform and can be considered an information hub, where the most up-to-date information almost always comes from Twitter. There has been a lot of trending social media from there. Many threads raise sensitive and hot issues.
Shock the Crypto Currency with His Tweet
Even Elon Musk himself has made a big impact just because of his tweets on Twitter. You may still remember when Elon was able to influence the price of cryptocurrency with just his tweets which resulted in many people losing and making big profits at the same time. Looking at that, then we can see how big the influence of Elon Musk lately.
So, it’s not surprising that now the news about Elon Musk’s decision to cancel buying Twitter has caused a big reaction again. I think that reaction makes sense given the amount of money offered to buy Twitter.
The Reason for Cancelation
Seeing that, Twitter certainly felt aggrieved and cheated so decided to report Elon Musk’s actions. Then after the news got bigger, Elon began to state several reasons that caused him to decide to cancel buying Twitter, including:
It was later discovered that there was a threat to resign because of the assumption from Elon Musk that Twitter did not want to honestly admit the number of fake accounts on Twitter. According to information, Elon requested that the number of fake accounts on Twitter be no more than 5%.
It’s quite interesting to find out why he wants a fake account of at least 5%. Or he realized the dangers of fake accounts in spreading false information. Even the use of fake accounts is also considered a fraudulent way to increase revenue on Twitter because they do not care about the authenticity of the account as long as it can increase traffic on their social media.
For his actions, the chairman of Twitter, Bret Tyler decided to take him to court to sue to stick to the price agreement that had been made. Twitter also believes that they will be able to win a trial in a local court. This can also still be considered reasonable because anyone would not want a very large value of money to just disappear because of a problem that for the injured party is not too influential.
The terms and the agreement made required Elon to pay a termination fee of US $ 1 billion if it did not complete the transaction. Elon threatened to terminate the deal if the company failed to show evidence of the number of spam and bot accounts that accounted for less than 5% of users viewing ads appearing on social media services.
Twitter Issues that Affect His Shares in Tesla
News of Elon Musk’s purchase of Twitter shares was originally announced on April 14. The Tesla owner said he would pay $54.20 in cash for each Twitter share, a 38 percent premium to the stock’s closing price the previous day.
Following the plan to buy a majority stake in Twitter, Elon Musk has increased his financing commitment to the social media company to US$ 33.5 billion or Rp 489 trillion from US$ 27.25 billion or Rp 398 trillion. This includes funding of US$7.14 billion or Rp 104 trillion which was announced earlier in May.
In addition, he received a margin loan from Morgan Stanley related to a stake in his Tesla company. The value of the shares reached US$ 6.25 billion or Rp 91.2 trillion and has been removed from the financing equation. Elon Musk has secured a commitment from the bank amounting to US$ 13 billion or Rp 189.8 trillion in loans secured by Twitter shares.
Tariff for Tweeting
Before the acquisition was canceled, Elon Musk said it was possible to impose tariffs on some Twitter users. The founder of Tesla and SpaceX revealed that the paid tariffs would be aimed at users for commercial and government purposes. This can be seen as a fairly fair move considering that Twitter does not have any relationship with a state agency, they only act as a social media service provider. So at least they don’t want to be harmed.
Elon Musk submitted the plan to boost the social media platform’s source of income. “Twitter will remain free for regular users. However, there may be a small additional fee for commercial and government accounts,” he tweeted on the official @elonmusk personal account.
As written on Channel News Asia, Musk is reported to have submitted a plan to monetize user tweets to banks. In addition, he plans to review Twitter executives’ salaries to reduce the platform’s cost burden. There are also plans to develop features that will enable business revenue growth, including proposals to generate revenue from tweets containing important or viral information.