Twitter is going to get a new owner very soon. The most famous billionaire Elon Musk had proposed to buy the full stakes of Twitter and the social media giant company has accepted it. Moreover, Musk is already an unofficial owner, waiting for just the paper works to be completed. After the paper works Twitter will be a private company under the ownership of Elon Musk.
Earlier Twitter had accepted the deal at $54.20 per share is valued at around $44 billion, according to the press release. Twitter would become a private company on completion of the deal, which requires shareholder and regulatory approval.
Elon Musk on acquiring Twitter said, “Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” Musk said in a statement included in the press release announcing the $44 billion deal. “I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spambots, and authenticating all humans. Twitter has tremendous potential — I look forward to working with the company and the community of users to unlock it.”
