On Monday, April 25, twitter announced that it had negotiated a deal with elon musk. As a result, the world's wealthiest man is essentially buying Twitter for a stunning $44 billion. Twitter and Elon Musk have concluded their agreement, as predicted and foreshadowed by Bloomberg. Elon Musk is essentially paying $54,20 a share for each of Twitter's shares. Surprisingly, the sale isn't contingent on any of Musk's other assets. Twitter will become a private corporation if the acquisition is completed, and Elon Musk will have complete control over social media's destiny.
TWITTER IS NOW UNDER ELON MUSK'S CONTROL.
Elon Musk has to increase his efforts to accomplish this astounding quantity. The billionaire guaranteed over $25 billion in loans and put $21 billion of its own money into the venture. The two parties are expected to complete the transaction later this year. For the time being, the company's shareholders and regulatory organizations must approve it. When it comes to stockholders, it's worth remembering that Elon Musk is already the company's largest owner, owning 9% of the company's stock. For the uninitiated, Twitter was started in 2006 and now has over 215 million monthly users.
- I HOPE THAT EVEN MY WORST CRITICS WILL CONTINUE TO FOLLOW ME ON TWITTER BECAUSE THAT IS WHAT FREE SPEECH ENTAILS.
APRIL 25, ELON MUSK (@ELONMUSK)
As previously stated, once the purchase is authorized, the firm will cease to trade on the stock exchange. From now on, Elon Musk will have complete influence over the future of social media. Interestingly, Musk recently criticized the present situation with social media, claiming that it does not truly allow free expression to its users. He has an incredible following of over 80 million people on Twitter, making him one of the most active users. We expect this number to rise now that he is even more well-known.
The new Edit button is one of the modifications that came as a result of Elon Musk's stock purchase. However, we're certain that more adjustments are on the way. The exact future of social media is currently unknown, but we anticipate a substantial change. It's worth noting that this is Musk's first foray into this field; after all, his successful companies Tesla and SpaceX operate in completely different markets.
- “I WANT TO MAKE TWITTER BETTER THAN EVER BY ADDING NEW FEATURES, MAKING THE ALGORITHMS AN OPEN-SOURCE TO INCREASE TRUST, ELIMINATE SPAMBOTS, AND AUTHENTIFY ALL HUMANS.”
Stockholders would receive $54,20 in cash for each share, according to the terms of the sale. On April 1, this translates to a 38 percent advantage over Twitter's papers. Twitter's stock has risen by 6% in the hours following the news.