Elon Musk Officially Acquires Twitter For $44 Billion

By Mene Prosper

Elon Musk, the world’s richest man, co- founder and CEO of Tesla electric cars has officially acquired Twitter for $44 billion.

Few days ago, Musk announced publicly his bid to fully own Twitter and take it off the stock market.

Musk opined that Twitter needs to be taken private to grow and become a genuine platform for free speech.

He 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.

He continued ” I also want to make Twitter better than ever by enhancing the product with new features, Making the Algorithms open source to increase trust, defeating the spam bots and authenticating all humans.Twitter has great potentials.i look forward to working with the company and the community of users to unlock it.

He stated that his bid was the last and best from him.initially it seemed the company would declined his offer but after much debates and delegations.It has officially announced accepting Musk’s bid.

This means legally that Twitter has now entered into a definitive agreement to be acquired by an entity wholly owned by Elon Musk for $54.20/share in cash in a transaction valued at approximately$44 billion

This comes in handy as it aligns with Elon’s plan of privatizing Twitter. Twitter will become a privately held company and will no longer have it’s shares traded on any stock exchange upon complete purchase.