April 25, 2022

Elon Musk Purchases Twitter For $44 Billion

Elon Musk Purchases Twitter For $44 Billion

Elon Musk has acquired Twitter reportedly $44 billion.

According to reports, Musk bought the social media company at $54.20 a share. “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,” Musk said in a statement.

“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 spam bots, and authenticating all humans. Twitter has tremendous potential—I look forward to working with the company and the community of users to unlock it.”

“The Twitter Board conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing,” Twitter independent board chair Bret Taylor said in a statement, calling the deal ” the best path forward for Twitter’s stockholders.”

Parag Agrawal, Twitter’s CEO also released a statement about the new deal. “Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important.”

Let us know your thoughts on this!