Controversial acquisition: Musk buys Twitter for $44 billion

Musk, the head of Tesla, is buying the SMS service Twitter for about $44 billion. Last week, the Internet company’s board of directors tried to prevent this. Musk plans to create a “global platform for free speech.”

Elon Musk acquired Twitter for $44 billion. This was announced by the American SMS Service. Purchase negotiations only began on Monday night. Last week, Twitter’s board of directors attempted to block Musk’s takeover.

$54.20 per share

Thus, Twitter shareholders will receive $54.20 per share – an offer that the former Tesla boss has described as “the best and last.” Now, it is up to Twitter contributors to decide whether or not to accept the offer. Twitter shares rose 6 percent. Musk had previously announced his desire to make the American company private.

Musk is one of the most active and active Twitter users with around 83 million followers. He declared his desire to make Twitter a “global platform for freedom of expression” because it was “important to civilization.” He wants to introduce new functionality that makes SMS algorithms public in order to “increase trust” and he wants to “defeat” so-called spam bots.

In recent weeks, Musk has made a number of proposed changes, including rules that led to the suspension of former President Donald Trump’s account. Trump was banned from Twitter after expressing sympathy for his supporters who stormed the US Capitol in Washington on January 6, 2021.

Meanwhile, Trump announced that he has no plans to return to Twitter even if his account can be reactivated. He told Fox News he’s staying on his own social media platform, Truth Social, even though Musk is a “good guy” and will improve Twitter.