Billionaire Elon Musk reached an agreement to acquire Twitter for approximately $44 billion, the company said.
According to Telangana Today, Tesla CEO said he wants to buy Twitter because he thinks it’s not living up to its potential as a platform for “free speech.” He says it needs to be transformed as a private company in order to build trust with users and do better at serving what he calls the “societal imperative” of free speech.
There was lots of drama going on between Elon Musk and Twitter since he purchased a 9.2 per cent stake in Twitter. The real motive behind all these incidents is now clear. Elon Musk the world wealthiest man always wanted to get a 100 per cent stake in the company and take it private
Elon Musk bought 100 per cent of Twitter’s stake on Tuesday.
The billionaire has been showing tremendous interest in the microblogging website. He believes that he can unlock Twitter to its full potential as a platform for free speech.
Meanwhile, everyone is still wondering as to why did Twitter Board decide to sell the company to Musk. Apparently, the microblogging platform evaluated the billion-dollar deal and felt that it was the best deal.
However, there are rumors’ that the pressure from shareholders pushed them to make the decision in Musk’s favor. Finally, the Tesla CEO is now the owner of Twitter.
Thinking in business terms, it was a seriously good offer. In fact they offer had ready money to pay, it made a lot of sense to accept $44billion.
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