Elon Takes Twitter Private With His $44 Billion Bid

Twitter is going private

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Twitter

It’s been a month of is Elon Musk really going to buy Twitter and will the board want the social media platform bought by a billionaire troll? But it’s finally happening.

So if you’ve been waiting for Elon to buy Twitter to quit the platform, then this is the time.

The incendiary tech mogul struck a deal earlier today to buy Twitter for $44 billion. The popular social media platform will sell to Elon for $54.20 a share thus making Twitter a private company in a deal expected to close later this year.


“The Twitter Board conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing. The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter’s stockholders,” said Bret Taylor, Twitter’s Independent Board Chair.

“Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important,” said Parag Agrawal, Twitter’s CEO.

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

Now that it has happened, questions are rising about how him being the owner will impact the company as a social media platform that has 217 million daily users plus also the company’s leadership.

The Tesla CEO has shared before that he plans to:

  • Open Twitter’s algorithm
  • Make content moderation decisions more transparent
  • Add an edit button
  • Eliminate spam bots
  • Verify more people

News of this announcement has had mixed reactions with most people saying that they’ll quit Twitter. Here are the best reactions:

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