Elon Musk signs deal to buy Twitter for $44 billion
Take control. Elon Musk reached an agreement to buy Twitter for approximately $44 billion on Monday, April 25.
The public company will be purchased for $54.20 per share in cash, and the company will then be owned by the CEO of Teslawho is the richest man in the world at 50.
“Free speech is the foundation of a functioning democracy, and Twitter is the digital public square where issues vital to the future of humanity are debated,” Musk said in a press release announcing his purchase. Monday.
He added that he intends to make big changes. “I also want to make Twitter better than ever by enhancing the product with new features, making algorithms open source to increase trust, defeating spambots, and authenticating all humans,” he explained. “Twitter has enormous potential – I look forward to working with the company and the user community to unlock it.”
Bret Taylor, Independent Chairman of Twitter’s Board of Directors, added in a statement, “Twitter’s Board of Directors conducted a thoughtful and comprehensive process to evaluate Elon’s proposal with a deliberate focus on value. , certainty and funding. The proposed transaction will offer a substantial cash bonus, and we believe it’s the best way forward for Twitter shareholders.
Musk bought nine percent of Twitter shares earlier this month and was offered a place on the board after becoming the company’s largest shareholder. The SpaceX CEO originally accepted the spot, which was dependent on a background check, on the advice of 11 people on April 5. However, four days later he turned down the place on April 9. No reason was given for his refusal.
The position, which was to have a term ending in 2024, would have required Musk to agree to own no more than 14.9% of Twitter shares or take over the company, according to a Securities and Exchange Commission filing. The New York Times reports.
The future owner of Twitter is also a dad. He shares twins Xavier and Griffin, both 18, and triplets Kai, Saxon and Damian, 16, with his ex-wife. Justine Wilson. The couple were married from 2000 to 2008 and Musk continued with YourIWow Riley and Amber Heard before romance Grimes. He and the musician, 34, went public with their relationship in 2018 and share son X AE A X-II, 23 months and daughter Exa Dark SliderÃ¦l, 4 months.
Grimes and Musk separated in September 2021, three months before she gave birth to their daughter, but the couple have since reunited. “I would probably call him my boyfriend, but we’re very fluid,” Grimes said. vanity lounge in March 2022 of the status of its relationship with the technology investor. âWe live in separate houses. We are best friends. We see each other all the time. â¦ We just have our own thing going on, and I don’t expect the others to understand.
The “Oblivion” singer tweeted that the interview was already outdated on March 10. “Me and E have broken up *again* since writing this haha ââbut he’s my best friend and the love of my life,” she wrote.