Musk already owns the social network? Not yet. What

Question

Musk already owns the social network? Not yet. What

happened was the unanimous approval of the deal by the Board of Directors of Twitter and this is an important step for the tycoon to take control of the social network.
According to Twitter, the transaction needs to be approved by shareholders and regulatory bodies. It is expected to be completed this year.

What was Musk's relationship with Twitter?

In addition to being a frequent user of the social network, where he collects controversies, Musk recently bought a 9.2% stake in the company, which made him the largest shareholder.

The shares were acquired in March, but the deal was only revealed on April 4. At the time, Musk had about 73 million shares of Twitter, an amount valued at US$ 2.9 billion (R$ 14 billion).
The way in which the billionaire bought his stake in the company is the subject of a lawsuit filed by former shareholders. In a class action suit, they claim that Musk made "materially false and misleading statements and omissions" by not disclosing that he had invested in Twitter, which they said would be in violation of US federal law.
Days after buying that stake in the company, he took polls on his profile on the social network about freedom of expression and said he was seriously considering creating a social network to guarantee that right to internet users.

What are Musk's plans for Twitter?

In the announcement about the deal, the billionaire again commented on the importance of freedom of expression on the platform.
"Free speech is the foundation of a functioning democracy and Twitter is the digital city square where issues vital to the future of humanity are debated," Musk said in a statement about the acquisition.
Like other platforms, such as Facebook and YouTube, which are owned by private companies, Twitter has its usage policy and provides for penalties for breaking the rules.

One of the most repercussions was the banishment of then-President Donald Trump, at the end of his term, in 2021, days after the violent invasion of his supporters to the Capitol, encouraged by the politician on social media.
At the time, Twitter was heavily pressured by public opinion to act, but there were also those who considered that the platform was practicing censorship. Trump was also suspended for 2 years from Facebook for the same reason.
Musk has already indicated that he wants to open code the social network's algorithm, which guides, for example, the display of posts, and authenticate all human users.
"I want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating spam 'bots' (robots) and authenticating all humans," he stated.
With the purchase, Twitter will also stop trading shares on the stock exchange.