The world’s richest person- Elon Musk has officially taken control of Twitter by buying it for approximately $44 billion with shares valued at $54.20. In the tech world, it is one of the biggest deals till date.
On April 14, Musk announced his bid for Twitter and called it his ‘best and final offer’. Conversely, as Musk tried defending against the hostile takeover, his bid saw a ‘poison pill defence’. In the meantime, after Musk’s announcement about the funding he secured, the board went into negotiations with him.
As per the Wall Street Journal, Musk met with several stakeholders of the company privately to commend the virtues of his proposal’ and also to push them for his case he made video calls as well.
Why did Elon Musk buy Twitter?
Elon Musk said that Twitter doesn’t provide free and open speech to its users. He feels Twitter is an essential place for opening up to people and sharing their viewpoints.
Musk also said he only cares about creating a platform for people that is broadly inclusive and maximally trusted and not interested in making money by acquiring Twitter. Musk describes himself as a “free speech absolutist” but he has also blocked those Twitter users who disagree with him or question him.
Twitter says that the publicly traded firm is now going to be a private company owned by Elon Musk, the one who negotiated a purchase price of $54.20 per share.
Another tweet by Elon Musk read that he hopes that even his worst critics remain on Twitter, as that is what free speech means.
