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Twitter, politics moves: the UK parliament convenes Musk

Security and freedom of speech worry London. Meanwhile, the entrepreneur raises funds and launches the idea of ​​paid profiles

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Politicians from various quarters commented on the operation that led Elon Musk to buy Twitter a few weeks ago. Users, freedom of speech and the warning to respect the names were among the issues raised.
After the appeals, the British Parliament decided to go de facto, inviting the eccentric businessman to discuss the operation.

The Uk convocation

The initiative was initiated by Julian Knight, chairman of the municipalities commission that deals with digital and media. The intent, to ask questions about future plans for the social network regarding crucial issues such as freedom of expression and user safety. The parliamentary committee had already tried to summon another social media tycoon, Mark Zuckerberg, in 2018, but the Facebook founder refused.

Paid profiles

Twitter is widely used by various world leaders and institutions to communicate. And government profiles, along with commercial ones, may be asked to pay a small fee. Or so Musk speculated. “Twitter will always be free for occasional users”, the entrepreneur later specified.

7 billion to finance the purchase

Meanwhile, some details emerge on the economic structure. Musk raised $ 7.14 billion for the transaction, reducing the margin loan obtained from $ 12.5 billion to $ 6.25 billion. In fact, the risks that Musk personally took on the $ 44 billion offer are also lowered.

Investors include Oracle founder Larry Ellison, cryptocurrency platform Binance and asset management firms Fidelity, Brookfield and Sequoia Capital.
In particular, from the communications to the SEC it emerges that Ellison will contribute with 1 billion dollars, while Sequoia for 800 million. Binance has pledged 500 million against Qatar Holdings’ 375 million and Fidelity’s 316 million. Saudi prince al-Waleed bin Talal has instead pledged to maintain his nearly 1.9 billion stake in Twitter after the takeover.

Tesla’s boss would also be in talks with Jack Dorsey, the founder of the social network, who could also return to take on operational roles.


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