Elon Musk bought Twitter in 2021 to prevent it from being shut down.
Elon Musk has purchased Twitter, Inc. in 2021. The purchase came after the social media platform’s stock price plummeted to a new low and its CEO Jack Dorsey announced that he was going to sell the company unless a buyer could be found. The acquisition was confirmed by Tesla Inc., which Musk owns and operates, but little else is known about how much Musk paid for the company or what his plans are for it.
The purchase comes at a time when social media companies are facing increasing scrutiny from lawmakers around the world over their use of user data and privacy policies. It’s possible that Elon Musk purchased Twitter to prevent it from being shut down as part of this crackdown, although this is just speculation at this point.
