Archive: Worlds richest man Elon Musk strikes deal to buy Twitter for £34.5bn


Class created on 27/04/2022

Main article vocabulary

Vocabulary Meaning
To strike a dealIf you strike a deal you agree on a deal.
A takeover offerIf you take over a company, you take control of it.
Set in stoneIf something is set in stone, it is decided and will happen. If it is not set in stone, it is not decided or 100% agreed upon.
SharesIf you own a share in a company, you own a percentage (%) of that company.
Tremendous potentialPotential means that something can develop into something bigger and better. Tremendous here means that something has a lot of potential. It can grow from a small to a very big company.
To unlock somethingIf you unlock a company’s potential, you can see that certain changes can make the company better. You can see that if you do something different, the company will be very successful. So, you see the potential a company has and make changes so the company can reach that potential. You unlock that potential.
Eradicating fake accountsTo eradicate something means to get rid of something. Fake accounts are accounts that are not real.
Bedrock of democracyDemocracy is about freedom and equal rights for the people and where the leaders are voted by the people to lead them. If something is the ‘bedrock of democracy,’ it is the most important part of it. It is what it is based around. So ‘free speech,’ is the most important part of democracy.
Digital town squareThe town square is usually at the centre of a town where the people can come and discuss ideas and either agree or disagree with each other. A digital town square is a place online where you can do the same.
VitalThis means very important.
HumanityThis means the human race – people.
Tap intoIf you tap into something, you see potential in something and use it to make it successful.
RegulatorsThese are people that make sure all the laws are followed within a certain business.
High-profile movesIf something is ‘high-profile,’ it is well known by everyone. So, a high-profile move is one that most people know about.
BannedIf you are banned from doing something, you are stopped from doing it.

Main Article

Twitter has agreed to a takeover offer from the billionaire Elon Musk. However, the deal is not yet set in stone as shares in Tesla have fallen since the announcement.

Mr Musk, believed to be the world’s richest person, said Twitter had “tremendous potential” that he would unlock in the future. In addition, he also has plans to make a number of changes from allowing free speech to eradicating fake accounts.

“Free speech is the bedrock of a democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” Mr Musk said when the deal was struck.

He also said that he is looking forward to working with the company and the community of users on Twitter to tap into its true potential. The deal comes as Twitter faces growing pressure from politicians and regulators over the content that appears on its platform.

In one of its most high-profile moves, last year it banned former US President Donald Trump, perhaps its most powerful user.

News of the takeover has been supported by many although Mr Trump has said that he has no plans to re-join the platform.

Many are wondering how twitter will change with more laws around the world controlling what people can and cannot post on social media platforms.

Only time will tell.

If something is set in stone, it is decided and will happen.

If it is not set in stone, it is not decided or 100% agreed upon yet.