It’s official, Elon Musk has bought Twitter for $44 Billion the company has stated in a press release.
According to reports, Musk bought the social media company at $54.20 a share. “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,” the Tesla CEO said in a statement.
“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 spambots, and authenticating all humans,” he added.
Parag Agrawal, Twitter’s CEO also released a statement about the new deal. “Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important.”
On Friday, Musk announced his funding plan in an SEC filing that included $25 billion in loans as well as $22 billion in personal equity.
Reports of both sides were working on the deal since the early morning before it was finalized.
Twitter shares have since soared before it was fully acquired by Elon Musk.
What are your thoughts on this?