Twitter sold to Elon Musk for $44 billion

Twitter on Tuesday confirmed the sale of firm to billionaire Elon Musk for $44 billion, information company AFP reported. The Tesla CEO reached an settlement to accumulate Twitter for roughly $44 billion, the corporate mentioned.

The outspoken Tesla CEO, the world’s wealthiest individual, has mentioned he needs to purchase Twitter as a result of he thinks it’s not residing as much as its potential as a platform for “free speech.” He says it must be reworked as a personal firm with a view to construct belief with customers and do higher at serving what he calls the “societal crucial” of free speech.

I hope that even my worst critics stay on Twitter, as a result of that’s what free speech means

Because the information of Twitter and Elon Musk reaching an settlement was confirmed, the Tesla CEO in his newest tweet mentioned, “I hope that even my worst critics stay on Twitter, as a result of that’s what free speech means.”

Twitter mentioned it is going to develop into a privately held firm after the sale is closed.

“Twitter has a objective and relevance that impacts all the world,” its CEO Parag Agrawal mentioned in a tweet. “Deeply happy with our groups and impressed by the work that has by no means been extra essential.”

“Twitter has a objective and relevance that impacts all the world,” its CEO Parag Agrawal mentioned in a tweet. “Deeply happy with our groups and impressed by the work that has by no means been extra essential.”

Musk describes himself as a “free-speech absolutist,” though he hasn’t been precisely clear what he means by that. In a latest TED interview, the billionaire mentioned he’d prefer to see Twitter err on the aspect of permitting speech as an alternative of moderating it. He mentioned he’d be “very reluctant” to delete tweets and would usually be cautious about everlasting bans. He additionally acknowledged that Twitter must abide by nationwide legal guidelines governing speech in markets around the globe.

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Musk himself, although, commonly blocks social media customers who’ve criticized him or his firm and has used the platform to bully reporters who’ve written important articles about him or his firm.

Twitter’s board at first enacted an anti-takeover measure often known as a poison tablet that would have made a takeover try prohibitively costly. However when Musk outlined the monetary commitments he’d lined as much as again his provide of $46.5 billion — and no different bidders emerged — the board opened negotiations with him.

(With inputs from AP)

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