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
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.
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