Elon Musk, well-known CEO of Tesla, was already the second largest shareholder of Twitter. On April 14, he made a proposal to buy the social network at US$54.20 per share, for an amount that amounted to US$44 billion.
Initially, the reaction to the proposal seemed to be negative. With the billionaire securing $46.5 billion in funding, it has been confirmed that Twitter management has approved Elon Musk’s bid for the social network. The deal is due to be completed by the end of the year.
After being bought by Twitter, the social network will cease to be listed on the stock market, abandoning the status of a public company. Parag Agrawal, chief executive of Twitter, said he was “deeply proud” of the deal.
Elon Musk wants to end bots and spam on Twitter
“Freedom of expression is the foundation of a functioning democracy, and Twitter is the digital plaza where vital issues for the future of humanity are discussed,” Elon Musk said in reaction to the acceptance of the proposal.
The executive said he also aimed to “make Twitter better than ever by enhancing the product with new features, making algorithms open source to increase trust, defeating bots and spam, and authenticating all humans.” ”.
Remember that Elon Musk is one of the active users with the most followers on Twitter: he has more than 84 million followers at the time of writing this article. The executive believes that Twitter has much to improve in terms of freedom of expression.
In a post-purchase tweet, Elon Musk wrote that he hoped even his “worst critics would stay on Twitter, because that’s what free speech is all about.”
