Elon Musk Will Acquire Twitter For Billion.

TopSpeed

$44 Billion - That's How Much Musk Will Have To Shell Out To Drown Out The Noise On Twitter

By Khris Bharath

Published Apr 26, 2022

An ardent user of Twitter himself, Elon urges his worst critics to stay on the platform, as that is what "free speech" means

Tesla CEO Elon Musk will buy Twitter for $44 billion. After regulatory and shareholder approval, Twitter will become a private company upon the completion of the deal.

The board of directors of the internet tech giant even attempted to reject the purchase last week. Musk now intends to establish a "global platform for free speech.” Twitter's stock price was up, by up to six-percent TWTR.INC after this press release.

Tesla and SpaceX CEO, Elon Musk had racked up over a nine-percent stake in Twitter over the past week. Now, Musk will buy out Twitter for $44 billion, as Twitter’s board finally accepted the offer.

🚀💫♥️ Yesss!!! ♥️💫🚀 pic.twitter.com/0T9HzUHuh6

— Elon Musk (@elonmusk) April 25, 2022

The negotiations only began on Monday. Last week, the board of directors of Twitter attempted to prevent Musk from purchasing the company, as it was unclear how the Billionaire CEO was to secure funding for the acquisition.

However, according to a CNBC report, the board received more clarity on this after Musk was looking at a potential $46.5 billion tender offer in order to acquire the short messaging service. An SEC filing confirmed this. Twitter stockholders would receive $54.20 per share as part of the agreement.

The shareholders of Twitter must now determine whether or not to accept the offer. With 83.6 million followers on Twitter, Musk is amongst the most prolific users on the platform. Because Twitter is "important for culture," he wants it to be a "global forum for free speech." To "raise trust" and "fight spambots," he wants to add new features and make the short message service's algorithms open source.

While Musk is an ardent user of the platform and has even urged his worst critics to stay on the platform, which indicates that Musk may be more open to his naysayers? I don't know, it needs to be seen how the platform evolves moving forward. There is always a risk of how things are handled when one person is calling the shots in any scenario, is calling the shots in any scenario,}} and this is especially true for a platform used by millions to share trending stuff, around the world.