Related video: These are the Twitter board members fighting Elon Musk’s takeover bid
The deal could be reached today if negotiations go smoothly, Bloomberg has reported.
Mr Musk is reportedly discussing with partners to help with the acquisition, as well as co-investors.
It was announced last week that Morgan Stanley and other financial institutions were behind the billionaire.
Twitter’s stock price has jumped three per cent today as a result of the news, but the deal would still be less than Twitter was trading at least year.
The way Mr Musk explains it, these donations do not really signal much about his own personal beliefs. Instead he describes them as simply the cost of doing business in America.
“In order to have your voice be heard in Washington, you have to make some little contribution,” he told the Huffington Post in 2013. “But… I haven’t found Washington to be as corrupt as a lot of people think it is, meaning it’s not as coin-operated as some people may assume, and I’m very actually grateful for that, because if it were we would have zero chance.”
Adam Smith25 April 2022 17:00
Musk posts a cryptic tweet
Elon Musk has just tweeted the elusive statement: “And be my love in the rain”.
This is possibly a reference to the Robert Frost poem, a A Line-storm Song.
The subsequent paragraph reads:
The birds have less to say for themselves In the wood-world’s torn despair
Than now these numberless years the elves, Although they are no less there: All song of the woods is crushed like some Wild, easily shattered rose. Come, be my love in the wet woods; come, Where the boughs rain when it blows.
Adam Smith25 April 2022 16:44
What are Elon Musk’s politics?
Elon Musk has claimed that he wants to stay “out of politics” but has made numerous criticisms of the US government.
The 50-year-old’s exact politics can be hard to pin down. He has donated often to both Democrats and Republicans while variously declaring himself a “moderate”, a “socialist”, and “socially liberal and fiscally conservative”.
According to data gathered by the non-profit lobbying watchdog Open Secrets, Elon Musk has given a total of $1.2m to politicians, parties, political action committees (PACs), and referendum campaigns since 2002.
That money went almost equally to Democrats, with $542,000, and Republicans, with $574,500, with another $85,000 going to two broadly left-wing referendum campaigns in California. The balance has fluctuated over the years: in 2006, 2013 and 2017 he donated overwhelmingly to Republicans, while in 2015 he gave exclusively to Democrats.
Adam Smith25 April 2022 16:30
If this deal goes through, it would be one of the largest buyouts in corporate history
Adam Smith25 April 2022 16:03
Twitter is poised to accept the deal
Twitter will agree a sale to Elon Musk for $43 billion in cash, Reuters now reports.
It could be announced later on Monday, once its board has met to recommend the transaction to Twitter shareholders, according to unnamed sources.
Twitter cannot solicit other bids once the deal is signed, but would be able to accept an offer from another party if it pays Mr Musk a break-up fee.
Adam Smith25 April 2022 16:02
What would Twitter look like under Elon Musk?
Mr Musk – a prominent user of the service – is well known for his belief in absolute free speech and has suggested he does not think Twitter is living up to its principles on the issue.
However, it has been suggested that in an age of increasingly polarised discourse online and intense scrutiny from legislators over social media needing to do more to protect users from harmful content while avoiding outright censorship, a change of Twitter policy instigated by Mr Musk to loosen rules around speech on the site could create more problems for the company.
“Sowing the seeds of championing ‘free speech’ is one thing, but let’s not forget Elon’s view of simply voicing opinion has been seen as reckless by regulators in the past,” Dan Lane, senior analyst at investment and stock trading app Freetrade, said.
Adam Smith25 April 2022 16:00
“Twitter has become kind of the de facto town square. So it’s just really important that people have both the reality and the perception that they’re able to speak freely within the bounds of the law”, Mr Musk also said.
Twitter has significantly fewer users than either Facebook, YouTube, or Instagram, but often sets the headlines because of its relationship to traditional media.
Adam Smith25 April 2022 15:30
In an interview with Chris Anderson, Mr Musk said that Twitter is “bound by the laws of the country it operates in, so obviously there are some limitations on free speech in the U.S. and of course Twitter would have to abide by those rules.”
But he said it was “quite dangerous” to have “tweets be mysteriously promoted and demoted” and having a “black-box algorithm.”
Adam Smith25 April 2022 15:00
Why is Elon Musk interested in Twitter?
Mr Musk has claimed that Twitter living up to its potential as a “platform for free speech.”
He insists that he’s not interested in making money off Twitter and on Thursday said his motivation sprang from the realization that “having a public platform that is maximally trusted and broadly inclusive is extremely important to the future of civilization.”
Mr Musk has described himself as a “free speech absolutist” and said in a recent interview that the social media company should be regulated only by the laws of the country it operates in.
However, this would allow for much more unpleasant speech – including hate speech and scams – if implemented.
Adam Smith25 April 2022 14:22
The deal is reportedly being brokered now but nothing is concrete; it is possible the talks could go on for longer, or might break down
Adam Smith25 April 2022 14:08