Elon Musk buys Twitter for $44 billion

Elon Musk

Elon Musk has finally succeeded in taking Twitter over for a whopping $44 billion in a victory by the world’s richest man to take over the influential social network frequented by world leaders, celebrities and cultural trendsetters.

Read: Elon Musk tops Forbes’ list of world’s richest people

Announcing the deal in a statement, Elon Musk said, “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,” he added.

“Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it.”

Vocal about the freedom of speech, the major aim of Elon Musk was to ensure free speech and to make the space better for all. In a tweet after the deal, he hoped that even his worst critics would remain on Twitter because that was what free speech means.

Read: Elon Musk bids to buy Twitter: Here’s how Twitter reacted!

The Offer

On April 14, Tesla CEO Elon Musk made the offer to buy the microblogging site, Twitter, saying the social media company “needs to be transformed as a private company.”

The firm initially rebuffed Musk’s bid, but it will now ask shareholders to vote to approve the deal. Upon completion of the transaction, Twitter will become a privately held company.

The news spread like a wildfire, as it should considering the huge fan-following of Elon Musk, who currently enjoys around 82 million followers on Twitter alone, and it garnered mixed responses from the netizens.

In Washington, Republican lawmakers who had criticized the company over its content policies applauded Elon Musk’s deal to take Twitter private, while many Democrats said the acquisition shows billionaires have too much power and need more scrutiny.

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