The Tesla CEO Elon Musk on 14th of April 2022 announced his intention of buying the social media platform “Twitter’’.
Early this month before his big reveal, he was the companies ’s single largest shareholder and following the developments, The terms of the deal stated that shareholders were to receive $54.20 in cash for each share of twitter’s stock they own making it a 38% premium over the company’s share before he disclosed this month that he was the firm’s largest shareholder.
Musk proposed to acquire the company for the sum of $44bn in cash which he categorizes it as “the best and final offer”.
With Elon’s big agenda to take the company private which is engineered by his persistence for freedom of speech and democracy Musk said, “Free speech is the bedrock of a functioning democracy and Twitter is the digital town square where matters vital to the future of humanity are debated” in a statement when the deal was announced.
The social platform has millions of daily users and continues to play a huge role in shaping narratives around the world. Lots of business, celebrities, public figures, important personals, companies and even organizations thrive on the benefits of the platform and over the years have used it for awareness and brand building. With the new developments, it is believed that critical observations would likely be intense and expectations set to be high. Musk went further to state that twitter had enormous potentials and he looks forward to working with the company and the community of users to unlock its potentials.
