May 24, 2022

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Elon Musk buys Twitter - TVN24 Biznes

Elon Musk buys Twitter – TVN24 Biznes

Reuters reports that Elon Musk, the world’s richest man, has acquired Twitter for $44 billion. Musk previously announced that he wants to pull Twitter from the exchange.

As part of the deal, Reuters said, Musk takes control of a social platform where millions of users and world leaders are active.

Negotiations on a deal that seemed uncertain last week gained momentum over the weekend. This happened after Musk provided Twitter shareholders with details of the offer’s financing. Under pressure, Twitter has begun negotiations with Musk to buy the company at a suggested price of $54.20. per share – Reuters Books.

Twitter shares rose about 6 percent on Monday. After this news, Reuters reported.

Elon Musk’s Tweets

“Freedom of expression is the backbone of democracy, and Twitter is a digital city arena where key issues for the future of humanity are discussed,” Musk said in a statement posted on Twitter.

He added, “I hope Twitter is better than ever, and that will be by adding new features, making algorithms open source to increase trust, fighting bots and validating accounts. Twitter has huge potential – I can’t wait. With the company and user community to unlock it” .

In an earlier tweet, Musk said he hoped “even his fiercest critics will stay on Twitter because that is the essence of freedom of expression.”

Musk Show

Information about Musk’s offer appeared in mid-April. “I invested in Twitter because I believe in it’s potential to become a platform for freedom of expression around the world, and I believe that freedom of expression is a social imperative for a well-functioning democracy,” the billionaire wrote. “However, from the moment I made the investment, I realized that the company would not thrive and would not serve this social necessity in its current form. Twitter had to be turned private,” the Tesla CEO added.

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Twitter then confirmed that it had received Musk’s offer and would decide whether it was in the best interests of shareholders to accept or continue as a publicly traded company.

On April 4, information appeared in the market that the Tesla boss had a 9.2 percent stake. Twitter shares, becoming the company’s largest single shareholder. Musk has revealed in regulatory filings in recent weeks that he has been buying shares in nearly daily batches starting Jan.

The richest man in the world and Twitter

Musk is a regular Twitter user with 83.5 million followers.

According to the Bloomberg Billionaires Index, Elon Musk’s fortune is estimated at $259 billion. He is by far the leader of the list of the richest people in the world. The Bloomberg Billionaires Index is a ranking of the world’s richest people. It is updated every day after the listing on the New York Stock Exchange closes.

Jeff Bezos comes in second with assets of $169 billion. Bernard Arnault stands on the lowest step on the podium – $143 billion.

Elon MuskRiders / Bloomberg / Getty Images

Elon Musk – who is he?

Musk, a South African American entrepreneur, is a co-founder or founder of companies such as PayPal, SpaceX, Tesla, Neuralink and Boring Company. He is currently the CEO of SpaceX and Tesla.

In September 2021, SpaceX made history after the success of the first space mission, the crew of which consisted only of civilians. One of the passengers was also someone who had contracted cancer as a child and had won the battle against the disease. SpaceX has also signed a $3 billion contract with NASA to build a next-generation lunar lander.

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Musk said his second company, Tesla, will continue to support technology development by developing a human-like artificial intelligence robot called the Tesla Bot or Optimus.

Main image source: Riders / Bloomberg / Getty Images