Elon Musk Bought Twitter for $44 Billion

Elon Musk Bought Twitter for $44 Billion

Following a non-binding agreement that was met with dismay by a section of members of the Twitter Board, some rethinking, Elon Musk has decided to purchase Twitter at $44 billion. It’s something Musk considers to be the “best deal and last offer.” It is worth $54.20 per share. That’s which is the amount Musk had originally proposed by Musk. The following are the details you should be aware of. # Elon Musk Bought Twitter for $44 Billion

READ MORE: How to Get Verified on Twitter Full Guide

Elon Musk Bought Twitter for $44 Billion

Musk Now Owns Twitter!

The proposal to purchase Twitter is a cash-only deal for Musk and, once the deal is complete it will become a privately-owned company. According to reports, this proposal was “unanimously” agreed to by the board of directors of Twitter and is scheduled to close in the coming year.

In the course of the proposal, Elon Musk has secured $25.5 billion of fully committed debt and margin loan financing. He has proposed about $21.0 billion of equity commitments.

The technical details, Musk took to Twitter to show his absolute joy and to discuss the way in which the acquisition of the microblogging website focuses on the right to free speech, and what steps they will implement to improve Twitter more efficient. Expect new features for the product including open-source algorithmic solutions, eliminating spambots, and more. Here’s an overview of his tweet.

Freedom of speech is a right Elon Musk even pointed out in his letter, stating, “I invested in Twitter because I believe it has the potential to become the medium to allow free speech across the world. I believe that freedom of speech is a fundamental right of society to ensure an effective democratic society. But, since I made my investment, I’m aware the company is not able to thrive and fulfill this societal need in its current situation.”

For your reference prior to the whole thing, Elon Musk had taken over the rank as the biggest shareholder of Twitter with the company’s 9.2 percent stake. Musk declares that he plans to keep Twitter open to all users and even his”worst critics” and, to that end, former US President Donald Trump has made it detailed that he’s not coming back on Twitter even when his account is restored.

A new Twitter chief executive, Parag Agarwal says, “Twitter has an objective and importance that affects the world at large. We are especially proud of our team and inspired by their work that’s never been more crucial.”

While everyone seems in a form of harmony following Musk’s purchase of Twitter, it remains to determine how the well-known social media site will be affected by Musk now in control of several things. The fate of Twitter employees, Twitter, and much more stays in the air but only time will reveal how it unfolds.

However, many aren’t very happy about this, and an #leavingtwitter” campaign is now live on Twitter. What do you think of Elon Musk owning Twitter? Do you think that things could get out of control? Tell us what you think in the comments section below. # Elon Musk Bought Twitter for $44 Billion

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