TWITTER: Musk Purchase Is Official

Written by on April 26, 2022

It’s official — Elon Musk is buying Twitter.

After weeks of thrusts and parries from both sides, Twitters board of directors has accepted his offer of $44 billion. That translates to about $54 a share, a 38% premium on its trading price on April 1st , the day Musk disclosed his 9% ownership stake.

Musk, the world’s richest man and a self-proclaimed free-speech absolutist, says he hopes to bring a number of changes to the platform, including:

  • Enhancing it with new features — many speculate there will be an Edit function.
  • Making its algorithms open source.
  • Trying to eliminate spam bots.
  • Authenticating all human users, not just celebrities.

The deal is expected to close before the end of the year. (CNBC)

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