Elon Musk buys Twitter, a new era begins for the social media giant

After weeks of speculation, it’s now official. The world’s richest person, Elon Musk, will now own 100% of micro-blogging platform Twitter as Twitter’s board agrees to his bid to buy all of Twitter. The South African-born billionaire had made an offer to Twitter’s board of directors at US$54.20 per share, a 54% premium to the day before Musk’s Twitter investment began and a 38% premium from the day before the public announcement of Musk’s investment.

At the proposed price, it will cost Elon Musk around $43 billion to buy Twitter, or around 15% of his current net worth. However, not all of that 43 billion will come from Musk’s pocket as he has already lined up investments in excess of 46 billion to support his takeover of Twitter.

Elon Musk, who is already Twitter’s largest individual shareholder owning 9.2% of the company, has previously said he has no faith in the current management and cannot realize Twitter’s true potential under their leadership. . He aimed to take the company private so he could have full control of it and steer Twitter to realize its full potential.

Twitter’s board had done its best to resist Elon Musk’s takeover bid, including trying to trigger the poison pill strategy. However, Musk’s proposed price, coupled with the mood of the majority of Twitter shareholders, ultimately forced the hand of Twitter’s board.

Elon Musk, who is already the CEO of electric vehicle giant Tesla and SpaceX, co-founder of Neuralink and OpenAI as well as the founder of The Boring Company, will now be the owner of social media giant Twitter.

What can we expect from Twitter under Elon Musk’s leadership

Elon Musk has repeatedly said that freedom of expression is of the utmost importance to him and is one of the main motivations for his purchase of Twitter. Musk, who often posts jokes and memes on Twitter, has been vexed by Twitter’s control over its users and has never made a secret of his desire to support free speech. In the future, we will likely see a more level playing field on Twitter, where the organization no longer supports the left and censors the right.

Let Musk keep his word, and there’s no reason to doubt he won’t, we’ll wait and see.

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