New Delhi: Elon Musk, the chief executive of electric car maker Tesla Inc and aerospace company SpaceX, on Tuesday (April 26, 2022) clinched a deal to buy Twitter Inc for $44 billion cash (around Rs 3.3 lakh crore).


COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Discussions over the deal, which last week appeared uncertain, accelerated over the weekend after Musk wooed Twitter shareholders with financing details of his offer. Under pressure, the 16-year-old company started negotiating with the world`s richest person to buy the company at his proposed $54.20 per share price.


Musk, who has 84 million followers on the microblogging site, said that Twitter is the digital town square where matters vital to the future of humanity are debated.


"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," the Tesla chief said in a statement.




Musk has advocated user-friendly tweaks to the service, such as an edit button and defeating "spam bots" that send overwhelming amounts of unwanted tweets.


Netizens have now flooded the internet with memes on Musk and his acquisition of Twitter.








Meanwhile, former Twitter CEO Jack Dorsey weighed in on the deal with a series of tweets that thanked both Musk and current Twitter CEO Parag Agrawal for "getting the company out of an impossible situation."


"Twitter as a company has always been my sole issue and my biggest regret. It has been owned by Wall Street and the ad model. Taking it back from Wall Street is the correct first step," he said.


Musk, who is worth $268 billion according to Forbes, has said he is not primarily concerned with the economics of Twitter.


"Having a public platform that is maximally trusted and broadly inclusive is extremely important to the future of civilization. I don`t care about the economics at all," he had said in a recent public talk.