Elon Musk Finally Acquires Twitter For $44 Billion
Elon Musk, the CEO of Tesla and SpaceX, is the sole owner and operator of Twitter at the time of writing this article. The richest individual on the planet now owns the most popular social networking platform.
Musk paid $54.20 per share for the company. This is, after all, the same price as his initial offer from April 14th.
In a statement, Elon Musk stated that,
“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated.”
He further added that,
“I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spambots, and authenticating all humans.”
“The Twitter Board conducted a thoughtful and extensive process to analyze Elon’s bid with a deliberate focus on value, clarity, and finance,” Twitter independent board chair Bret Taylor said in a statement.
Twitter’s board of directors, which included Twitter co-founder and former CEO Jack Dorsey, unanimously approved the transaction, according to the company.
Shareholders will receive $54.20 in cash for each share of Twitter stock they possess under the terms of the agreement.
Everyone is currently unsure about Elon Musk’s impact on Twitter or the changes he will bring to the table.
