What could change as Elon Musk agrees deal to buy Twitter?
The world's richest man is promising a more lenient on policing content, as he nears a takeover
Last updated 29th May 2022
Elon Musk has reached an agreement to buy Twitter for around $44 Billion, promising a more lenient touch to policing content on the platform.
The Tesla CEO, who is also the world's wealthiest person, has said he wanted to buy and privatise the site, because he thinks its not living up to its free speech potential.
Mr Musk said in a joint statement with Twitter that he wants to make the service "better than ever" with new features, such as getting rid of automated "spam bots" and making its algorithms open to the public to increase trust.
"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," he said.
Deal comes after Musk became biggest shareholder
The deal has been struck roughly two weeks after the billionaire first revealed a 9% stake in the platform.
Last week, Musk said he had lined up $46.5 billion in financing to buy Twitter, putting pressure on the company's board.
Twitter said the transaction was unanimously approved by its board of directors.
The 11-member board includes Twitter co-founder and former CEO Jack Dorsey, who has been planning to step down from the board in May.
Twitter said the deal is expected to close sometime this year and is subject to the approval of Twitter stockholders and regulators.
What could change?
Elon Musk has hinted he wants to take a more lenient stance on policing content on the website, describing himself as a "free-speech absolutist".
But he has been known for blocking or disparaging other Twitter users who question or disagree with him.
He has already voiced a number of proposed changes for the company, including removing rules that suspended former president Donald Trump's account.
Musk has also proposed ridding the platform of fake and automated accounts, and shifting away from its advertising-based revenue model.
Asked during a recent TED talk if there are any limits to his notion of "free speech", Mr Musk said Twitter or any forum is "obviously bound by the laws of the country that it operates in. So obviously there are some limitations on free speech in the US, and, of course, Twitter would have to abide by those rules".
Beyond that, though, he said he would be "very reluctant" to delete things and in general be cautious about permanent bans.
It will not be perfect, Mr Musk added, "but I think we want it to really have the perception and reality that speech is as free as reasonably possible".