Elon Musk Is Officially Purchasing Twitter for $44 Billion

Twitter has agreed to Tesla CEO Elon Musk's offer to buy the company for $44 billion, Twitter announced today. Bloomberg was first to report early Monday morning that a deal between the two parties was imminent.

twitter elon musk
Two weeks ago, Elon Musk offered to buy Twitter for $54.20 per share. Twitter and Musk, following weeks of speculation and public drama, agreed today to the $44 billion deal. Earlier reports indicated that Twitter's board was concerned that Musk's offer would be undervaluing the company by the time the social-media giant announces its Q2 earnings later this week.

Before his offer to outright purchase the platform, Musk purchased 9.2% of the company following heavy criticism of Twitter, on Twitter. Following his share purchase, Musk was poised to join the company's board to try and enact changes he said would promote "freedom of speech," but Twitter's CEO, Parag Agrawal, unexpectedly announced that Musk would no longer be joining the board.

In a statement, Musk said that he wants to make Twitter "better than ever" with new product features that will defeat spam bots and authenticate all humans.

"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," said Mr. Musk. "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 spam bots, and authenticating all humans. Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it."

When Elon Musk's acquisition of Twitter is complete, Twitter will become a privately held company. The deal is expected to close in 2022, subject to approval of Twitter stockholders, the receipt of applicable regulatory approvals, and the satisfaction of other customary closing conditions.

Note: Due to the political or social nature of the discussion regarding this topic, the discussion thread is located in our Political News forum. All forum members and site visitors are welcome to read and follow the thread, but posting is limited to forum members with at least 100 posts.

Top Rated Comments

Hazmat401 Avatar
10 months ago
Great…. A significant blow to censoring is being dealt

Layoff all the woke people and move the headquarters to Texas
Score: 192 Votes (Like | Disagree)
turbineseaplane Avatar
10 months ago
Just a reminder that less content moderation ≠ more free speech.

It just means that the speech of the vulnerable, the harassed, and the targets of hate speech will be silenced, or at least chilled

Elon has a long hill to climb to prove that he now cares about the fair, but perhaps not favorable, views of everyone, particularly as they relate to him and his companies personally.
Score: 135 Votes (Like | Disagree)
cmChimera Avatar
10 months ago

Great…. A significant blow to censoring is being dealt

Layoff all the woke people and move the headquarters to Texas
I love that you criticize censorship and then, in the same breath, advocate firing people based on their political views.
Score: 116 Votes (Like | Disagree)
chscag Avatar
10 months ago
This is a great thing for free speech!
Score: 102 Votes (Like | Disagree)
iObama Avatar
10 months ago
Been on for 13 years, and it’s now time to go. Sad day.

Like someone else said, lack of moderation doesn’t mean free speech, it means a hell scape of harassment. Will be encouraging everyone I know to move to Mastodon, but more than likely will just end up leaving non-Instagram social media altogether.
Score: 92 Votes (Like | Disagree)
DanteHicks79 Avatar
10 months ago
Whelp, guess it's time to ditch that platform.
Score: 78 Votes (Like | Disagree)

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