Monday, April 25, the highly-anticipated deal of Elon Musk buying Twitter has become official.
According to The New York Times, Twitter has accepted Elon Musk’s personal offer to purchase the social media platform.
With a price of $54.20 per share, the deal totals to approximately $44 billion.
The timeline leading up to the purchase
The sale comes after a series of publicly shared actions on behalf of Musk within the last two weeks.
Firstly, on April 13, the richest person in the world filed an official offer with the U.S. Securities and Exchange Commission (SEC).
“Twitter needs to be transformed as a private company. As a result, I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced,” Musk stated within the original filing.
Then, Sunday, April 24, a meeting with Twitter board members took place to “seriously consider” Elon Musk’s buying proposal, sources for The New York Times revealed.
Now, this Monday morning, Twitter stock experienced a 4% increase. The rise comes as a result of the bidder’s name dominating headlines and all the conversation surrounding the highly-publicized deal.
In multiple tweets building up to this moment, Musk expressed ideas, concerns, and potential plans for the platform. He addressed issues such as spam bots, top accounts with no active content, and the edit button.
What do you think the future holds for Twitter with Elon Musk leading it? Leave your opinions in a comment below 👇
Featured image source: Elon Musk portrait by The Royal Society, CC BY-SA 3.0, via Wikimedia Commons. Twitter branded background added by GCTV staff.
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Hip Hip Hooray! Maybe now the censorship will end!
Hope he buys FB next
This is a step int he right direction for free speech on Twitter but I think the next hurdle will be government regulation.
Twitter and other social media platforms did well to avoid regulation by voluntarily doing the bidding of their political contacts. That is, voluntarily silencing political dissidents and those who counter the official narrative on social and geopolitical issues. now that it’s clear the new management will not tow the line, we are going to see a push for government regulation of social media and calls to censor “misinformation” and “hate speech.”
Let’s hope Musk has a plan.
I agree that the next government steps are censorship of “misinformation” and “hate speech”. But I disagree that it’s Musk’s job to have a plan. It’s our job to fight for our rights.
Musk declared publicly in an interview with TedX that his plan is to simply enforce the laws of each country. He does not plan to fight them, and he does not plan to censor beyond the laws of the country. He said that’s up to lawmakers. I plan to enjoy the first amendment being reinstated at Twitter, and then do my part to voice my beliefs on what the laws should be.
I think the social aspect of Twitter may be overwhelming overshadowed by commercialization . Expect more data mining towards profitability agenda. I wonder why he did not start his own platform as he has done in other companies. Social control by a single person is a very bad idea.
Great move on his part! Excited to see what becomes of the company.
Sounds like I can create a new Twitter account. I closed my last account when the nonsense censorship became evident.