Elon Musk acquires Twitter: The world’s richest man and Tesla CEO Elon Musk on Monday bought Twitter for $ 44 billion (Rs 3.30 lakh crore). The entire deal was done in cash. With this deal, the management of the Internet media platform, which came into existence 16 years ago, will go into the hands of Musk. In his first tweet, Musk wrote, “Freedom of expression is the cornerstone of democracy and Twitter is the digital town square where matters important to the future of humanity are debated.” Also wrote, hope that even after this my critics will remain on Twitter.
The White House did not comment on the deal, but said President Joe Biden is concerned about the power of the Internet media. At the same time, former President Donald Trump has said that now even if Twitter restores his account, he will not return to this platform. It is said that a board meeting was also held in this regard on Sunday morning, in which 11 members supported the proposal. Musk presented his financial proposal to Twitter shareholders.
Earlier, in a tweet, Elon Musk said, “I hope my worst critics stay on Twitter, because that’s what free speech means.” tell that Elon Musk had made an offer of $4,300 million (Rs 3.22 lakh crore at current price) at $54.20 per share and offered to pay in cash. He had said that for the kind of effective changes that are needed in Twitter, it must first go into private hands.
Musk was in talks to buy Twitter in his personal capacity and Tesla was not involved in the deal.
Twitter shares were up 4.5 percent at $51.15 in pre-market trading on the New York Stock Exchange on Monday. The New York Stock Exchange temporarily halted trading of Twitter shares before the deal was announced. Twitter’s share price increased by six percent when trading started again.
Posted By: Arvind Dubey