Elon Musk Buys Twitter for $ 44 Billion

elon musk buys twitter

Elon Musk has bought Twitter for around $ 44 billion. With this, Twitter will now become a private company.

Twitter was finally obtained by Elon Musk. Social media confirm the news by sharing that the entity owned by Elon Musk offers $ 54.20 per share in cash to acquire Twitter. Musk has bought Twitter for around $ 44 billion. With this, Twitter will now become a private company.

“The Twitter Board conducts a wise and comprehensive process to assess the elon proposal with an intentional focus on the value, certainty and financing. The proposed transaction will provide a substantial cash premium, and we believe this is the best path for Twitter shareholders, “said Bret Taylor, chairman of the Twitter Independent Board.

Talking price per share, shareholders will get $ 54.20 cash for each stock that is a premium of 38% of the stock price of Twitter closure on April 1, 2022.

“Twitter has the purpose and relevance that has an impact on the whole world. Very proud of our team and inspired by work that have never been more important. Free speech is the bedrock of a functioning democracy, and Twitter is the square of the digital city where important problems for the future of humanity are debated, “said Mr. Musk.” I also want to make Twitter better than before by increasing products with new ones with new features, making open source algorithms to increase trust, defeat spam bots, and authenticate all humans. Twitter has outstanding potential – I hope to work with the company and the user community to open it, “said Parag Agrawal, CEO, Twitter.

In one of the world’s biggest deals in the world of technology, billionaire Elon Musk has taken control of Twitter. The deal will make Musk get a social network of around $ 44 billion with shares worth $ 54.20. Musk has announced his offer on April 14, calling him ‘the best offer and the last’.

“Free speech is the bedrock of a functioning democracy, and Twitter is a digital city square where important problems for the future of humanity are debated. I also want to make Twitter better than before by increasing products with new features, making an open source algorithm to increase trust, beat bot spam, and authenticate all humans. Twitter has extraordinary potential – I hope to work with the company and the user community to open it, “Musk said in a press statement posted on his Twitter account after the deal was confirmed.

But his offer initially saw Twitter imposing ‘defense of poison pills’ against hostile takeovers. However, so Musk announced that he had received funds, the council negotiated with one of the founders of Tesla. According to the Wall Street Journal, on Friday, Musk met “Personally with several company shareholders to praise the priority proposal” and also made video calls to them to push the case.

Previously today, Musk has posted on his Twitter account, “I hope that even my worst critics remain on Twitter, because that is what free speech means.” It should also be noted that on Saturday, Musk has posted a rather unpleasant tweet about the Microsoft Bill Gates co-founder, apparently in response to the Gates shorting Tesla’s stock. This tweet has more than one million likes. He then joked that the ‘Shadow ban council’ might reviewing his tweet.

He has been a steadfast proponent of ‘free speech’ on the platform. In archiving to the US SEC, Musk wrote, “I invested on Twitter because I believe in its potential to become a platform for free speech throughout the world, and I believe free speech is a necessity for democracy that works.” He also wrote in submission, “Twitter has extraordinary potential. I will unlock it. ”

Musk has proposed a plan to take Twitter private. He also tweeted this recently, “If our Twitter offer is successful, we will defeat the spam or dead bot try!” Followed by other posts that say he wants all humans on the platform of authentication. He had repeated this in his press statement post the deal confirmation.

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