QUICK LINKS

×
  • Tech - News - Tech Companies
  • Updated: April 25, 2022

Tesla CEO Elon Musk Buys Twitter For $44 Billion

Tesla CEO, Elon Musk has acquired Twitter for $44 billion on Monday after a long meeting and negotiations with the company's board of directors which extended into the early hours of Monday.

Twitter announced that Elon Musk, an avid user of the platform with over 83 million followers, now has huge power over the most influential social media platform widely used by celebrities, politicians, activists and state leaders which is significant for societal and political issues.

The company said in a press release that Twitter will become a private company and shareholders will receive $54.20 per share.

Reacting to the news, 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,” 

“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.

"Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it.”

Musk has said his primary interest is restoring free speech on Twitter rather than making money.

"I hope that even my worst critics remain on Twitter because that is what free speech means,” he wrote.

According to Dealogic, the deal would rank among the largest activist takeovers of a public traded company after the takeover by AstraZeneca's 2021 purchase of Alexion Pharmaceuticals for about $42 billion.

Related Topics

Join our Telegram platform to get news update Join Now
Lawrence Agbo
Lawrence Agbo

Lawrence is a vibrant digital journalist that loves creating SEO-focused content that drives busines...

More From this Author

COMPANIES PROFILE

courteville business solutions plc ICT

COURTEVILLE BUSINESS SOLUTIONS PLC (“Courteville”), is a foremost Ni...

LEARN MORE
ncr nigeria plc ICT

NCR Nigeria PLC was incorporated in Nigeria under the Companies and Allied Matte...

LEARN MORE
omatek ventures plc ICT

Omatek Ventures Plc is a Nigeria-based holding Company that was founded in 1988 ...

LEARN MORE
cwg plc ICT

CWG Plc, formerly Computer Warehouse Group Plc was founded in 26 September 1991,...

LEARN MORE
e-tranzact international plc ICT

ETranzact was launched in September 2003, since then eTranzact is presently in p...

LEARN MORE

0 Comment(s)

SPONSORED

See this post in...