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Home » News » Buzz » 'Tax the Rich' Trends Again After Elon Musk Buys Twitter
for $44 Billion
2-MIN READ


'TAX THE RICH' TRENDS AGAIN AFTER ELON MUSK BUYS TWITTER FOR $44 BILLION

Ever since Musk's takeover of Twitter was announced, many social media users
expressed their apprehension that it did not augur well for the general public.
(Photo: Reuters)


ELON MUSK'S TWITTER TAKEOVER HAS STOKED THE 'TAX THE RICH' RALLYING CRY ON THE
INTERNET ONCE AGAIN.

 * News18.com
 * Last Updated:April 27, 2022, 10:47 IST
 * FOLLOW US ON:
   FacebookTwitterInstagramTelegramGoogle News

Buzz Staff

Elon Musk buying Twitter for around $44 billion has once again started the
rallying cry of “tax the rich" on the Internet. Ever since Musk’s takeover of
Twitter was announced, many social media users expressed their apprehension that
it did not augur well for the general public as the world’s richest man now
possesses even more power. “Tax the rich" is not going around Twitter for the
first time by any stretch of imagination, but Musk’s takeover of Twitter has
added a fresh dimension to it. US Senator Elizabeth Warren, who has often
sparred with the billionaire Tesla boss, tweeted, “This deal is dangerous for
our democracy. Billionaires like Elon Musk play by a different set of rules than
everyone else, accumulating power for their own gain. We need a wealth tax and
strong rules to hold Big Tech accountable."

> Let me get this straight: Elon Musk can buy twitter for $44 billion but he
> can’t afford to pay his fair share in taxes? RT if you agree it’s time to
> #TaxTheRich— Phil Arballo (@PhilArballo) April 26, 2022

> It’s hard to wrap your mind around the concept of a billion, but time is a bit
> easier to understand.1 million seconds is roughly 11.5 days. 1 billion seconds
> is about 31.5 years.
> 
> Elon Musk just bought Twitter for $45 Billion — or in seconds, roughly 1,427
> years. #TaxTheRich
> 
> — Rep. Mark Pocan (@repmarkpocan) April 25, 2022

> If you paid $1 In federal income taxes, you paid more in taxes than:AT&T in
> 2021Tesla in 2021Amazon in 2017-2018Nike in 2020FedEx in 2020Dish Network in
> 2020Elon Musk in 2018Jeff Bezos in 2007 & 2011Carl Icahn in 2016-2017
> 
> Yes. It’s time #TaxTheRich.#TaxBillionaires pic.twitter.com/YWP4VW9M9s
> 
> — 🇺🇦Skyleigh Heinen🇺🇸 (@Sky_Lee_1) April 18, 2022

RELATED STORIES

 * 'End World Hunger': Internet Wants Elon Musk to Know What He Could've Done
   With $44 bn

 * Dank Meme Poster Elon Musk Bought Twitter for Big Money and Irony is Dying

> Just a reminder: Elon Musk is not your friend.He's not a funny troll.He's a
> living perpetrator of wealth inequality that carries a real threat to our
> society. #TaxTheRich— Patriotic Millionaires (@PatrioticMills) April 23, 2022

> Elon Musk paid $0 in federal taxes in 2018.If he can afford Twitter, he can
> damn well afford to pay his fair share in taxes. We need a Billionaire Tax
> NOW.
> 
> — Congresswoman Marie Newman (@RepMarieNewman) April 25, 2022

An entity owned by Elon Musk offered $54.20 per share in cash to acquire
Twitter. Musk has bought Twitter for around $44 billion. With this, Twitter will
now be a a privately held company.

“The Twitter Board conducted a thoughtful and comprehensive process to assess
Elon’s proposal with a deliberate focus on value, certainty, and financing. The
proposed transaction will deliver a substantial cash premium, and we believe it
is the best path forward for Twitter’s stockholders,” said Bret Taylor,
Twitter’s Independent Board Chair.

Talking the price per share, the stockholders will get $54.20 in cash for each
of the share which is a 38% premium to Twitter’s closing stock price on April 1,
2022.

Read all the Latest News , Breaking News and IPL 2022 Live Updates here.


Buzz Staff

A team of writers at News18.com bring you stories on what’s creating the buzz on
the Internet while exploring science, cricket, tech, gender, Bollywoo...Read
More

 * 

Tags
 * elon musk
 * twitter

first published:April 27, 2022, 10:47 IST
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