Elon Musk buys Twitter at last

“The bird is freed,” tweeted Elon Musk late on October 27th, after at last completing his acquisition of Twitter. The world’s richest man (and third-most followed tweeter, fast closing in on Justin Bieber) now owns arguably the world’s most influential news platform. He has already reportedly sacked Twitter’s chief executive and has changed his own Twitter profile to “Chief Twit”.

Mr Musk spent most of the past six months trying unsuccessfully to wriggle out of the deal. In April he agreed to pay $44bn for the company, just as tech stocks started to slide. By July Twitter’s market value had fallen below $25bn. Since then the climate has only soured. This week Alphabet, Amazon and Meta all saw double-digit percentage drops in their share price. Twitter’s much-criticised board has in the end extracted what looks like a sweet deal for shareholders.

Is it a good deal for Twitter’s 240m daily users? Mr Musk has promised a more relaxed approach to content moderation on…

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This article was written by and originally published on www.economist.com