Musk is known for throwing ideas, sometimes light-hearted, on his Twitter timeline. His tweets often spark debates on various issues, including free speech that polarises the Twitterati. Twitter on Monday confirmed the sale of the company to Tesla Chief Elon Musk for USD 44 billion.
Under the terms of the deal, shareholders will receive USD 54.20 in cash for each share of Twitter stock they own, matching Musk’s original offer and marking a 38 per cent premium over the stock price the day before Musk revealed his stake in the company, CNN reported.
It further reported that the deal caps off a whirlwind news cycle in which the Tesla and SpaceX CEO became one of Twitter’s largest shareholders, was offered and turned down a seat on its board and bid to buy the company — all in less than a month. “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,” Musk said in a statement.”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 spam bots, and authenticating all humans. Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it,” he added.
