Find out how the richest person in the world became the new owner of Twitter

One of the world’s leading social networks, Twitter has a new ownerit is Elon Musk, the richest man in the world, who has been chosen by Time magazine as the person of the year 2021. The case has received a lot of attention in recent weeks, with acquisitions from people eager to understand the plans of the eccentric billionaire. .

Elon Musk at an event in 2013. Image: Wikimedia Commons/Dan Taylor/Heisenberg Media

Next, we explain who Elon Musk is, how he became the richest person in the world, and why he bought Twitter.

Elon Musk: emeralds, electric cars and space travel

Elon Musk was born in 1971 in South Africa. He is the son of a model and nutritionist and an electromechanical engineer, who made his fortune in real estate and emerald exploration. Musk’s father’s business provided the family with a comfortable standard of living and helped the billionaire in his early ventures.

Musk moved to Canada when he was 17, where he began attending Queen’s University in Ontario. Soon after, he moved to the United States, where he originally intended to settle and where he graduated in 1995 with a degree in physics and economics.

His business career has always been associated with technology. The first successful venture was Zip2, a type of online guide developed for newspapers such as The New York Times. The company was sold to Compaq in 1999 for $307 million.

Subsequently, Musk founded, an online financial services company that merged with Confinity, the developer of PayPal. Money Transfer Tools eventually became the name of the new company, which was traded in 2002 with e-commerce giant eBay for $1.5 billion.

Shortly before this sale, Musk created one of his core businesses, SpaceX. The space exploration company was the first to send ordinary people into space in 2021 and plans to go to Mars.

Tesla is one of Elon Musk’s best companies. Image: Pixabay.

In 2003, the billionaire built his other successful company, Tesla, a world leader in the electric car industry. Musk’s other businesses include Neuralink, which develops tools to connect human minds to machines, and The Boring Company, which builds underground tunnels to streamline public transit.

This successful career has made the South African billionaire an inspiration to people around the world, especially young people passionate about the digital world and scientific innovation.

On April 5, Forbes magazine estimated his fortune at $219 billion.

Elon Musk and Twitter

Elon Musk has never been the kind of wealthy businessman who hides from the limelight. The billionaire really loves communicating with the masses and his Twitter account, with over 80 million followers, is a primary way to do that.

Twitter shares rose 6% after Musk’s purchase. Image: Pexels/Brett Jordan.

Musk’s social media posts have a wide variety of content and have already put him in difficult situations. One of the most iconic cases occurred in 2018 during the rescue of 12 boys trapped in a cave in Thailand.

The businessman offered a submarine from his company Tesla to be used in the rescue, but the diver in charge of the operation rejected the offer, saying the submarine was just a prototype and that Musk’s offer was a “publicity stunt”. There wasn’t much. In response to Twitter, the billionaire called Diver a “paedophile”, an act for which he was later prosecuted.

Musk’s plans to acquire the social network began in March this year, when he bought 9% of the company’s shares. Then, on April 14, he made a $41.5 billion bid to become the majority shareholder, threatening to get rid of the shares he had already acquired if the offer was not accepted.

Many worry about Twitter’s future after the purchase, as Musk himself did. He has already shown himself against the moderation policy of the social network, of which he himself was “victim”, adding that “Twitter must be transformed into a private company”.

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Amaury da Silva Nogueira is studying literature/publishing at the Federal University of Minas Gerais (UFMG). Passionate about the world of writing, he has worked as an editor for two years and conducts research on the history of publishing in Brazil. In addition, he is also currently researching rights and benefits to add knowledge to the writings of the FDR news portal.

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