Friday, May 20, 2022
HomeNews & PoliticsElon Musk Buys Twitter for $44 Billion, Will Take It Private

Elon Musk Buys Twitter for $44 Billion, Will Take It Private

Elon is the new daddy of Twitter.

It all started on the 14th of April when Elon Musk made an offer to buy Twitter and all of the internet combined went nuts. The deal was not just about buying some shares of the company, Elon wanted to have one hundred percent of Twitter for himself.

Many thought this was one of the usual jokes from Musk and laughed it off, some thought it would end with no results and things would go back to normal even if he was serious. But the second time the internet went nuts was when a surprising report came in claiming that Twitter was under negotiations on Monday with Musk about the offer.

It has now been confirmed that the deal was a success and Twitter has been sold to Elon Musk. So what exactly does this mean? What is the future of Twitter and what can we expect from Elon in the future? Here is everything we know:

Elon’s Offer

Elon’s first offer came on 14 April when he said that he was willing to pay $54.20 per share to buy one hundred percent of Twitter. He then filed the same offer with the United States Securities and Exchange Commission (SEC) and also posted it as a tweet on Twitter. He was interviewed about it hours later on Ted.

The Result

To everyone’s surprise, the deal became very real and the offer that Elon made turned out to be a good deal for Twitter. The offer stated that Musk will be paying the $21 billion himself and the rest of the money will be coming from Morgan Stanley and other assorted banks.

By the end of Monday, the deal was done and the final amount with which Elon bought off Twitter was $44 Billion. Elon now owns 100% of Twitter and will be privatizing the company.

Elon’s Vision of Twitter

Elon has been known to be very open about his likes and dislikes about how Twitter works. He has also expressed what changes he would like to make on Twitter. Throughout the past few years, Elon has tweeted and ran polls on Twitter asking his follower count of about 83 million users about what changes they would like on Twitter.

Elon, the founder of Tesla was the biggest shareholder of Twitter with a 9.1% stake before finally buying it. In the last few years, some of the changes that Elon has asked his followers are:

  • An idea of an edit button that received more yes votes
  • Asking Twitter’s algorithm should be open-source which received 83% yes votes
  • Asking that the users should be allowed to see if their post was demoted or promoted
  • Suggesting that Twitter’s code should be on Github so that people can look for errors, fix them, or add new code

The Reaction

Well, you could not expect the netizens to take such big news lying down, and while some reactions were hilarious, some made you wonder what will be the future of Twitter. Here are some of the reactions from people on Twitter:

Now that Elon owns Twitter, we can at least expect him to get rid of all spam bots as he promised, and quite possibly get a fart button.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Popular