After nearly a month, Elon Musk has finally acquired Twitter at a staggering $43.3 billion ($54.20 per share). With great support from Morgan Stanley, an American investment bank (and his own funds), this acquisition grants him total control of Twitter and the deal is currently in regulatory approval.
Upon announcing the news, Musk tweeted about the reasoning behind the acquisition. He firmly believes that "Twitter is the digital town square where matters vital to the future of humanity are debated" and free speech is the core of a "functioning democracy". On top of that, he also wants to make Twitter better than ever by introducing new features, allowing the algorithms to be open-source, getting rid of spambots and "authenticating all humans".
Yesss!!! pic.twitter.com/0T9HzUHuh6— Elon Musk (@elonmusk) April 25, 2022
If you haven't been following up on the episodes, here's what went down. Musk first thought bought 10% of Twitter shares that gave him a seat on the board but backed out afterwards. After that, he also tweeted about wanting an edit button which resonated with Twitter users. Twitter claimed that the team has been working on that for years but hasn't found the right balance yet.
Musk's emphasis on freedom seems to be the main point of buying over Twitter, as he tweeted that he hopes his "worst critics remain on Twitter because that is what free speech means". We think there won't be much impact but we do hope to see new features that bring convenience like the edit button.
But what do you think of this latest news? Let us know in the comments below and stay tuned for more trending tech news at TechNave.com.