With a reported internet value of greater than $300 billion, Tesla and SpaceX CEO Elon Musk stated he may “technically afford” to buy Twitter outright and in addition had plans to alter the consumer expertise of the main social media platform.

In a TED Discuss held at a TED convention in Vancouver on Thursday, Musk told curator Chris Anderson that if his provide to purchase Twitter had been profitable, he would take into account altering the best way the platform handles controversial content material by not selling sure tweets and including the power to edit tweets in addition to present that edit historical past. The Tesla CEO added that beneath his potential management, Twitter needs to be “reluctant to delete issues” and completely ban accounts, however he would endeavor to encourage free speech in response to respective nations’ legal guidelines.

“A high precedence I’d have is eliminating the spam and rip-off bots and the bot armies which can be on Twitter,” stated Musk. “They make the product a lot worse. If I had a Dogecoin for each crypto rip-off I noticed, we’d have 100 billion Dogecoin.”

In response to a Wednesday submitting with the USA Securities and Trade Fee, Musk supplied to buy Twitter’s shares — excluding the roughly 9% that he already owns — for $54.20 per share, representing a 38% premium over the inventory’s closing value as of April 1.On the time of publication, shares of Twitter are priced at $45.08, having risen greater than 30% within the final 30 days.

Reactions to the Tesla CEO’s potential possession of the favored social media platform had been blended. Many lauded the transfer as a step in the proper route without spending a dime speech, whereas others pointed to Musk’s personal seemingly immature habits on Twitter and his immense wealth.

“It takes some fairly spectacular psychological gymnastics to affiliate any kind of ‘freedom’ with the richest man on the planet initiating a hostile takeover and forcing one of many largest public social media platforms personal,” said Jackson Palmer, the co-creator of Dogecoin.

What Elon Musk’s funding may imply for Twitter’s crypto plans

The value of Dogecoin (DOGE)was largely unaffected by each Musk’s Twitter inventory purchase as properly his provide to buy the agency. As of April 4, Musk was the corporate’s largest shareholder, however he was reportedly overtaken Thursday by Vanguard Group, which elevated its holdings to greater than 10% of Twitter’s shares.