Dear MoveOn member,
Elon Musk, the richest man on Earth, just made a $43 BILLION offer to buy Twitter.1 Why is this terrifying, you ask? Keep reading!
Just last week, Elon Musk bought 9% of Twitter, making him the company's biggest stakeholder.2 Then, Twitter CEO Parag Agrawal announced Musk would be joining their board, before saying the next day that Musk had changed his mind and decided not to join the board. That decision left the door open for Musk to bid to own Twitter outright. This move from Musk signals what financial experts call a hostile takeover of Twitter.3
Musk, CEO of Tesla, says that he will be a champion for free speech, but he has fired Tesla workers who were organizing a union.4 And that's not all: Black Tesla employees spoke out about experiencing rampant racism and discrimination, such as being called the N-word, getting called monkeys, and being "forced to work in a segregated area of the factory called 'the plantation."5 They were retaliated against and fired for speaking out. It’s absolutely disgusting.
Will you sign the petition to stop billionaire Elon Musk from taking over Twitter?
Twitter already has a problem protecting users from abuse on its site. Musk has one of the largest followings on Twitter—his tweets have moved stock prices, and directly affect values of his companies' and his own net worth.6 Musk has also used his large following to bully others in the name of "free speech." At the helm of Twitter, he would no doubt continue to use scare tactics against reporters and journalists who critique him publicly. Elon's ownership would only harm the millions of people already experiencing harassment and abuse while using the site.
Twitter has become more than a platform for our personal thoughts; it's also a home for activists and a source used by hundreds of millions to learn more about societal problems and international and local news not covered by more prominent cable sources.
This effort from the ultra-wealthy to take control of news outlets to craft their own narratives is not new (Jeff Bezos owns The Washington Post, and just...google Rupert Murdoch), but it's ridiculous that during a deadly global pandemic, the rich just got richer. And now, Elon Musk—who paid $0 in federal income tax in 2018, despite his growing wealth—can now easily afford a $43 billion deal to take control of a platform we all enjoy.7 It’s time to fight back.
Thanks!
–Allison, Jensine, Nakia, David, and the rest of the team
Sources:
1. "Led by Musk, world's 10 richest men add $402bn to their net worth in 2021," Business Standard, December 31, 2021
https://act.moveon.org/go/161752?t=20&akid=321746%2E40999114%2ERzvvem
2. "Suddenly, Twitter's biggest stakeholder is Tesla's Elon Musk," Associated Press, April 4, 2022
https://act.moveon.org/go/161740?t=22&akid=321746%2E40999114%2ERzvvem
3. "Distraction Or Hostile Takeover? Here's What Analysts Say About Elon Musk's Offer to Buy Twitter," Forbes, April 14, 2022
https://act.moveon.org/go/161745?t=24&akid=321746%2E40999114%2ERzvvem
4. "FIRED BY ELON MUSK FOR UNIONIZING AT TESLA," More Perfect Union, June 4, 2021
https://act.moveon.org/go/161746?t=26&akid=321746%2E40999114%2ERzvvem
5. "BLACK TESLA EMPLOYEES CLAIM THEY HAD TO ‘MOVE TO THE BACK’ WHEN THE CEO WAS COMING, ‘THEY DIDN’T WANT A BLACK FACE UP THERE," Black Enterprise, April 2, 2022
https://act.moveon.org/go/161747?t=28&akid=321746%2E40999114%2ERzvvem
6. "The 7 Elon Musk tweets that have sent Tesla shares on a rollercoaster ride," Fortune, November 9, 2021
https://act.moveon.org/go/161741?t=30&akid=321746%2E40999114%2ERzvvem
7. "The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How the Wealthiest Avoid Income Tax," ProPublica, June 8, 2021
https://act.moveon.org/go/159548?t=32&akid=321746%2E40999114%2ERzvvem
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