Yes! The deal is fixed. Now it’s official that Twitter is owned by Elon Musk and he paid $44 billion for it. Elon Musk is an entrepreneur, investor, and business magnate. He owns Tesla, SpaceX, and now Twitter also. Musk said that we will bring new changes to the Twitter platform making it better with new stuff. As a result of this transaction between Twitter and Musk, Twitter will become a privately held company.
“The Twitter Board conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing. The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter’s stockholders,” said Bret Taylor.
At first, when Musk made this offer, the Twitter team denied the offer but later their mind changed. And also many users said that they will leave this platform if Musk has taken over it.
Elon Musk tweeted on his Twitter account 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. 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. Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it”.
Elon Musk started buying shares of Twitter from January onwards. By that time, he owned over 5% of the company. He then became the company’s biggest shareholder, with a 9.2 percent stake by April. And then a deal was offered by him to buy Twitter. The board of Twitter considered Musk’s offer for two weeks before approving the deal.
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