Reuters reported that political activists expect that a Musk regime will mean less moderation and reinstatement of banned individuals.
"Free speech is making a comeback," said U.S. Representative Jim Jordan, a member of the Freedom Caucus of conservative House Republicans.
Jordan and other Republicans have been critical of Twitter for banning former President Donald Trump and other notable conservatives.
But human rights activists have already raised concerns that the deal could lead to unfettered hate speech.
Senator Elizabeth Warren, a progressive and a critic of the tech platforms, called the deal "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," she said.
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The Wall Street Journal said that Twitter employees reacted to Musk's takeover with a mix of enthusiasm, fear, and humor, as people who work there tried to anticipate their future.
"It's a time of genuine discomfort and uncertainty," Edward Perez, director of product management for societal health at Twitter, said. "Most of us believe deeply that Twitter is much more than a tech platform; we have a deep responsibility to society. I hope our new owner gets that."
Other employees joked about the situation. One said "Send us all Teslas!" while another employee predicted the musician Grimes, mother to two children with Mr. Musk, will perform at the company's end-of-year party.
Discussions over the deal, which last week seemed uncertain, accelerated over the weekend after Musk wooed Twitter shareholders with financing details of his offer.
Under pressure, Twitter started negotiating with Musk to buy the company at his proposed $54.20 per share price.
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Former Twitter CEO Jack Dorsey weighed in on the deal and thanked both Musk and current Twitter CEO Parag Agrawal for "getting the company out of an impossible situation."
"Twitter as a company has always been my sole issue and my biggest regret. It has been owned by Wall Street and the ad model. Taking it back from Wall Street is the correct first step," he said.
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