Elon Musk has finally bought Twitter!
A couple weeks ago, Elon Musk closed a $44 billion cash agreement to buy Twitter, transferring control of the social media network populated by millions of users and world leaders to the world's richest person. It's a watershed moment for the 16-year-old firm, which rose to become one of the world's most influential public squares but now faces a slew of obstacles.
So we just got news that it has finally happened. Social media, this is not a drill, I repeat this is not a drill. The famous Tesla owner, Elon Musk has bought twitter. Yes you heard me, I said he has bought TWITTER.
A couple weeks ago, he closed a $44 billion cash agreement to buy Twitter, transferring control of the social media network populated by millions of users and world leaders to the world's richest person. It's a watershed moment for the 16-year-old firm, which rose to become one of the world's most influential public squares but now faces a slew of obstacles.
The deal's discussions quickened over the weekend when the richest man wooed Twitter shareholders with financial details of his bid, which appeared doubtful last week.
Elon Musk tweet says "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 informed his 80 million Twitter followers that the company has enormous potential and that he intended to improve it by introducing new features and making the algorithms open source in order to build confidence and combat spam bots.
Twitter's board chair, Bret Taylor, said the company had carefully considered the offer and determined that it was "the best way ahead for Twitter's stockholders."
Musk's initial offer for the social media powerhouse, which was co-founded by Jack Dorsey, was made on April 14 as a 'best and last' deal to take the firm private.
He first offered $43 billion, or $54.20 per share, but the last billion is assumed to reflect the purchase of additional Twitter shares announced by Twitter.
To make the necessary changes, the CEO of SpaceX and Tesla is anxious that Twitter becomes a private corporation.
So it'll be interesting to see what Musk does with one of the most popular social media platforms and the changes he wants to implement; are we ready for it or are we hesitant?
We'll see what Elon has in store for Twitter users, but for the time being, we'll just have to wait and see.
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