Elon Musk, the world’s richest man, today bought the social networking site Twitter. Elon Musk has bought shares of Twitter for $ 54.20 per share, according to AFP news agency Twitter’s board members have announced that the deal has been settled for $ 44 billion. Today, as soon as the discussion about the purchase of Twitter by Elon Musk started on the internet, #TwitterTakeover started trending on Twitter.
Millions of celebrities of the world and veteran leaders of all countries interact and express their views through this social media platform. Discussions on the deal, which until last week seemed almost uncertain, intensified over the weekend when Musk made his offer to buy Twitter. Twitter then began talks with Musk to buy the company at a proposed $54.20 per share price.
Let us tell you that, just a few days after buying a 9% stake in Twitter, Elon Musk had said that for Freedom of Speech, Twitter will have to be private. But since his share in the company is very less and with so much stake, he will not be able to make any significant changes in Twitter, so he offered to buy Twitter. However, at the time, Prince Alwaleed bin Talal of Saudi Arabia, one of the major shareholders of Twitter, immediately rejected Musk’s offer.
After this deal, Elon Musk will have 100% share of Twitter Inc and now he will be able to make any changes in this social media platform. When discussions started about buying Twitter, Musk asked users on Twitter “Do they want an edit button”, although this is a common feature, but experts believe that Twitter is now in a big change. The round will pass.
According to data compiled by Dealogic, taking a company private would be the biggest deal. “Freedom of speech is the cornerstone of a functioning democracy, and Twitter is the digital town square where matters important to the future of humanity are debated,” Musk said in a statement. He said he wants to “make Twitter better than ever.”
Twitter President Brett Taylor said the 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 generate a substantial cash premium, and we believe it is the best path forward for Twitter shareholders.”