This was announced by the Twitter Board of Directors Agreed to sell the company Tesla CEO Elon Musk who aspires to the richest man in the world to get his favorite social media platform and take it personally.
“Free speech is the foundation of a functioning democracy and Twitter is a digital town square that addresses issues that are important to the future of humanity,” Musk said. Press release. He plans to add new features, change algorithms, and remove spam bots on the social media platform.
According to the Wall Street Journal, Muskie and the Twitter board will soon reach a deal following Sunday’s meeting. Musk, which already owns approximately 9% of Twitter shares, said he raised $ 46.5 billion to complete the acquisition.
The deal follows Muskie’s offer on April 14 to buy Twitter for $ 54.20 per share, or approximately $ 44 billion, to transfer the company to private ownership.
Prior to the deal, Twitter’s share was lower than Musk’s offer price, indicating that investors were unsure of reaching a deal.
At a TED event in Vancouver the day Musk made the offer, the billionaire acknowledged the uncertainty he would make the deal, but said he was trying Twitter because he believed “there is a very important inclusive arena. For freedom in speech “. “
“I think it’s very important that this is an inclusive arena for free speech … Twitter has effectively become a kind of city square.”
Elon Musk discusses his plans for a social media company at a TED event in Vancouver https://t.co/zQHzqLO1vU pic.twitter.com/xkJWYBuy9E
– Bloomberg TV (@BloombergTV) April 14, 2022
Musk’s interest in the company caused outrage. The day after Musk’s offer, the Twitter board rejected it, saying it would receive protection against “poison pills”.
Musk has had problems in the past on Twitter. In 2018, he tweeted that he had enough money to privatize Tesla, but later a court ruled that his request was wrong and fraudulent.
At the TED event in Vancouver, Musk revisited the controversy.
“I was forced to illegally surrender to the SEC. “They’re scum,” Musk said of regulators. According to Reuters.
Following Muskie’s Twitter account in 2018, Tesla shareholders asked U.S. District Judge Edward Chen to suspend the “CEO’s public campaign to expose a contradiction and false narrative.”
I am considering buying Tesla privately for $ 420. Funding is anticipated.
– Elon Musk (@elonmusk) August 7, 2018
SEC Musk was charged with stock fraud Because of those tweets. Musk paid $ 40 million, half of which was paid for by Tesla.
As part of the deal, Musk agreed to step down as president of Tesla for a three-year term and promised to allow the company to preview company statements.
This is an emerging story. Please check for updates.
Source: Huffpost
