Tesla CEO, Elon Musk has officially acquired Twitter for $44 Billion and become the world’s richest man.
Elon Musk has finally acquired Twitter for $44 Billion in order to control the social network with more than 200 million users.
Twitter officially announced that they accept the musk offer for $44 Billion and it will become a private company once the transaction is done.
After a long time of effort to buy the world’s largest social networking site Twitter, Musk confirmed that he finally buy all Twitter shares for $54.20 per share in cash transaction value of around $44 Billion.
According to Board News, this happened when Elon Musk share proof of funding last Friday, this weekend, it release report states that the board was not seriously considering the Musk’s offers.
But Now, the board announced that they are accepting the musk offer,
On Monday, Twitter, Inc. (NYSE: TWTR) today announced that it has entered into a definitive agreement to be acquired by an entity wholly owned by Elon Musk, for $54.20 per share in cash in a transaction valued at approximately $44 billion. Upon completion of the transaction, Twitter will become a privately held company.
Elon Musk takes free speech on the Twitter platform and shares some upcoming changes in Twitter and the potential of Twitter,
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.
musk’s successfully managed to secure $25.5 billion of debt and margin loans finically which is most of the tesla’s stake and he has going to provide an extra $21.0 billion in equity.