(Photo by Christian Marquardt – Swimming Pool/Getty Images)
- Billionaire Tesla CEO Elon Musk buys Twitter for $44 billion.
- Musk plans to be “super focused” on a handful of priorities at the company if the deal gets through regulation.
- He set out those plans Friday morning on his Twitter account.
- For more stories visit www.BusinessInisder.co.za†
In late April, billionaire Tesla and SpaceX CEO Elon Musk added another title to his resume: Twitter owner.
Musk is paying $54.20 a share for Twitter, which is equivalent to his original bid totaling $44 billion. When the deal is done, Twitter will once again become a publicly traded company.
So, what exactly is Musk planning to do with Twitter?
For starters, he will reportedly take over as interim CEO when the deal is finalized.
And on Friday morning, Musk listed four key areas the company “will be super focused” on if the acquisition goes through: “hardcore software engineering, design, infosec. [information security] & server hardware,” he said†
It also sounds like he plans to make some managerial changes.
“I am convinced that all managers in a technical field should be technically excellent”, he said in a threaded tweet† “Software managers have to write great software, otherwise it’s like being a cavalry captain who can’t ride a horse!”
Musk previously laid out his broad plans for changes on Twitter.
“Freedom of speech is the foundation of a functioning democracy, and Twitter is the digital city square where issues vital to the future of humanity are debated,” he said in the press release announcing the acquisition. “I also want to make Twitter better than ever by improving the product with new features, making the algorithms open source to increase trust, defeat the spam bots and authenticate all people.”
Musk, a longtime Twitter user with more than 80 million followers, has detailed his feelings about the service for years.
He has criticized Twitter’s moderating its users, including former President Donald Trump’s permanent ban, in what… he sees it as an attack on freedom of expression† Among other things, Musk has also reprimanded Twitter’s lack of moderation from spam bots — which he has repeatedly bemoaned as the “the most annoying problem” – and denounced Twitter’s ability to maintain relevance in mainstream culture.
Musk’s acquisition of Twitter is expected to be completed within the year.