What next for Twitter under Elon Musk? (2024)

It is the moment nobody was quite sure would actually ever happen: after months of drama, Elon Musk says his $44bn (£38bn) deal to buy Twitter is complete.

He announced the big news on Twitter itself, of course, he has changed his bio to read "Chief Twit" and declared "the bird is freed". Job done, as far as he is concerned.

There has been no official confirmation as yet, and the silence from Twitter HQ so far has been rather deafening.

But perhaps there is nobody there to send that email - Mr Musk has reportedly already fired chief executive Parag Agrawal, chief financial officer Ned Segal, and legal and policy executive Vijaya Gadde, while chairman Bret Taylor's LinkedIn profile suggests he is no longer at the firm either.

So what might Mr Musk's Twitter look like?

Mr Musk addressed potential advertisers in an uncharacteristically humble message posted on the site on Thursday. In it, he spoke of buying Twitter because he wanted to "try to help humanity", and said he wanted "civilisation to have a digital town square". He also accepted that his mission may fail.

The fact that he wrote specifically to those who advertise on Twitter suggests he intends for now at least to stick with its digital advertising business model. That is despite this revenue starting to fall for giants like Google-owner Alphabet and Facebook-owner Meta, as the global economic slowdown bites and firms find themselves with less cash to splash on marketing

In the past he has spoken bombastically about wanting to lighten moderation, so that more voices can be heard more freely (Twitter has long been accused of favouring left-leaning, liberal messages, which it denies).

Might he decide to bring back some of the more controversial tweeters, banned under the previous administration - former US president Donald Trump (who has previously said he had no desire to return), or more recently, his friend Kanye West?

I am not so sure. Mr Musk now offers a more curtailed vision, saying that the platform must remain "welcoming", must abide by national laws and must not become "a free-for-all hellscape".

West was banned for anti-Semitism and Mr Trump's account was "permanently suspended", Twitter said "due to the risk of further incitement of violence" - sounds a bit hellscapey to me.

Twitter 'permanently suspends' Trump's account

Mr Musk has raged against the amount of spam and bot accounts he believes litter the site - Twitter has always disputed his claims that its official figure is far too low. He could order a mass cull, although that would probably affect everybody's all-important follower numbers, which could be an unpopular first move.

Perhaps his most intriguing hint so far is about his new company being the start of "X, the everything app". He has never elaborated on that but many have suggested that he is referring to the creation of a kind of "super app" along the lines of China's WeChat - a one-stop-shop for social media, messaging, finance, food orders - in a nutshell, everyday life admin.

The West does not yet have such a thing, although one could argue that Meta's WhatsApp and even Facebook Messenger are quietly morphing into services with multiple functions.

Mr Musk has not disguised his love of cryptocurrency and Binance, the world's largest crypto-exchange, is a proud investor in his vision (according to the press release I received just after 05:00 BST).

Could we see a Twitter set-up for businesses to accept payments - in crypto? That would be a hit with crypto fans and a horror for those who warn that crypto remains a risky choice, unregulated and therefore unprotected if anything goes wrong.

What we do know about Mr Musk is that he is visionary, volatile, ambitious, and creative. We can guarantee the changes will start rolling in - and already some Twitter fans are saying the change of leadership will drive them away.

"We wanted flying cars, instead we got 140 characters," said the investor Peter Thiel of the tech industry, long before the meme "expectations vs reality" became a thing. With Mr Musk, we may well get both.

Follow Zoe Kleinman on Twitter (of course) @zsk, external

Clarification 28 November: This article was edited to add more information on Twitter's reason for banning Mr Trump's account.

What next for Twitter under Elon Musk? (2024)

FAQs

What happens to Elon Musk if Twitter goes under? ›

A bankruptcy would be a complicated, expensive, and highly public court proceeding that could help slash some of Twitter's reported $13 billion in bank debt. But it could also potentially lead to Musk losing control of the platform.

What's the future of Twitter? ›

In its latest social network usage forecast, Insider Intelligence expects monthly Twitter users worldwide to drop nearly 4% in 2023 and another 5% in 2024. Our base assumption for this forecast is that technical issues and offensive content will drive away users.

What will Elon Musk do to change Twitter? ›

Elon Musk initiated the acquisition of Twitter, Inc. on April 14, 2022, and completed it on October 28, 2022. His goal was to transform Twitter into X, an all-encompassing app inspired by WeChat.

What does Elon Musk want Twitter to become? ›

When he bought Twitter, he set up a company called X Corp to close the deal. Musk has said he wants "X" to become a super-app along the lines of China's WeChat.

How is Twitter doing after Elon Musk takeover? ›

Use of Twitter in the US has slumped by more than a fifth since Elon Musk bought the site and rebranded it to X, according to data from app-monitoring company Sensor Tower. As of February 2024, the social network's daily app users in America had fallen by 23% since November 2022, just after Musk completed his takeover.

Is Twitter struggling financially? ›

It's not just the platform's identity that's on shaky grounds. Twitter was already struggling financially when Musk purchased it for $44 billion in a deal that closed Oct. 27, 2022, and the situation appears more precarious today.

Is Twitter losing users in 2024? ›

Topline. X, formerly known as Twitter, experienced a 30% drop in usage from 2023 to 2024, according to a study from Edison Research that clashes with favorable traffic metrics shared by the social media platform's billionaire owner, Elon Musk, and CEO Linda Yaccarino.

What is the alternative to Twitter after Elon Musk? ›

Since Elon Musk acquired Twitter, people are turning to alternatives -- such as Mastodon and WT. Social -- for business connections, news and industry information.

Is Twitter making money? ›

Elon Musk's X, the social network formerly known as Twitter, is on track to bring in roughly $2.5 billion in advertising revenue in 2023 — a significant slump from prior years, according to people familiar with the matter.

Has Twitter lost value? ›

Elon Musk has wiped out 72% of Twitter's value since taking over, Fidelity reveals in new filing. Fidelity has cut the valuation of its stake in Elon Musk's X again, reflecting a 72% markdown since the billionaire bought the former Twitter Inc.

Who owns Twitter before Elon Musk? ›

Who owned Twitter before Elon Musk? Jack Dorsey, along with Noah Glass, Biz Stone, and Evan Williams, launched Twitter in 2006.

How to see Twitter without an account in 2024? ›

To look at Twitter without an account in 2024, use privacy-focused tools like Nitter, search for specific tweets using Google Search with the site(.)com operator, or view historical snapshots of profiles using the Wayback Machine. These methods help you bypass Twitter's restrictions and browse anonymously.

What is Elon Musk's goal for Twitter? ›

Elon Musk made his case Monday evening for tossing the Twitter brand aside to chase his vision for a superapp called X. His lofty goal is to make the site a finance hub as well as a social platform. “In the months to come, we will add comprehensive communications and the ability to conduct your entire financial world.

Who owns Twitter in 2024? ›

Business magnate Elon Musk initiated an acquisition of American social media company Twitter, Inc. on April 14, 2022, and concluded it on October 28, 2022. Musk stated he intended to buy Twitter to build X, an "everything app" he had been developing since 2018 to mimic the Chinese app WeChat.

What is the main reason Elon Musk bought Twitter? ›

Elon Musk's controversial decision to purchase Twitter for $44 billion in 2022 came about for several reasons. It acted, in part, as an accelerant to his desire to create an 'everything app' similar to China's WeChat. But he also sought to roll back the censorship he said was taking place on the platform.

What would happen if Elon Musk bought Twitter? ›

What Elon Musk will likely do with Twitter if he buys it Musk says he'd loosen rules against spreading misinformation, allow former President Donald Trump back on Twitter, shake up the company's business model and find new revenue sources.

How much debt does Twitter have? ›

In the final tally, Twitter's capital profile comprises $13 billion in debt and $31 billion in equity. Musk's $22.9 billion stake equates to an ownership stake of nearly 74%.

What is Elon Musk's net worth today? ›

Which advertisers have left Twitter? ›

Notable brands such as Apple, IBM, Disney, and Sony have pulled their advertising on X (Twitter) in the wake of recent controversial comments made by Elon Musk in addition to the discovery that their advertisem*nts were apparently placed alongside flagrant, offensive content.

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