World richest man, Elon Musk has finally bought a 100 Percent stake in Twitter, recall that earlier this month, Elon Musk purchased a 9.2 percent stake in Twitter.
Today he purchased it for $44 Billion which is around 54.20 per share.
Musk had already stated that Twitter has “Extraordinary potential,” and he wants to unlock it.
The Twitter Board, after conducting a thoughtful and comprehensive process to access Musk’s proposal whose deliberate focus is on value, certainty, and financing, believed that the transaction will be the best path forward for Twitter Stakeholders.
Following the news of the new ownership, Elon Musk is expected to grant the right to free speech on the platform. Musk had earlier complained that Twitter suppresses the right to free speech.
Secondly, Twitter would get the edit button very soon and had already confirmed testing the edit option.
Thirdly, Musk is expected to remove spam accounts that he had been a victim of. In 2020, Musk’s account was among high-profile Twitter accounts that were hacked to push a Bitcoin scam.
At a Ted Conference, Musk said that Twitter should be more open source as “there’s no sort of behind-the-scenes manipulation either algorithmically or manually.”
Meanwhile, some people are still surprised over the transaction because Twitter CEO, Parag Agrawal wanted Musk to be a part of the board but Musk turned it down and the tussle between the two has been on.
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