Elon Musk to Buy Twitter for 44 Billion USDSocial Media

April 26, 2022 11:46
Elon Musk to Buy Twitter for 44 Billion USD

(Image source from: ted.com)

Keeping an end to all the speculations, it is official now about the deal of Twitter. Elon Musk has bought the entire stake in Twitter for a whopping amount of 44 billion USD which costs 54.20 USD per share. Twitter has been thinking about the offer of Elon Musk from the past few weeks. Elon has been discussing about the extraordinary potential of Twitter across social media. Parag Agrawal, the CEO of Twitter told "Twitter has impacted the entire world. We are proud of our teams and their work. The proposal of Elon focuses on value and financing. The transaction will deliver a cash premium and this would be the best deal for the stockholders of Twitter".

Elon Musk purchased a 9.2 percent stake in Twitter earlier this month. This made him the second biggest stakeholder in the company after Vanguard which holds 10.3 percent of the stake. Parag Agrawal welcomed Elon Musk but there was a tussle going on. Soon Elon Musk wanted the Twitter users to reveal if they want him to launch a new social media platform or buy Twitter. In the past, Elon Musk questioned twitter about censoring voices including the former USA President Donald Trump. He accused Twitter of not adhering to the Freedom of Speech. "Free speech is essential to a functioning democracy. Do you believe Twitter rigorously adheres to this principle?" tweeted Musk. More than 70 percent of the twitter users said NO. Now Elon Musk is all set to acquire Twitter.

By Siva Kumar

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Twitter  Elon Musk