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Elon Musk buys 100% of Twitter for $44B

Elon Musk buys 100% of Twitter for $44B

The world’s richest tycoon Elon Musk has taken over Twitter for $44 billion, Reuters reported on April 25th.

The deal followed painstaking negotiations with the social media platform’s management.

Twitter’s stock gained 5.7% on Monday, closing the trading session at a total value of $51.7 on the New York Stock Exchange (NYSE) after the announcement of the deal.

Commenting on the deal, Musk 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 expressed intentions to conduct changes to Twitter, including the platform’s algorithms, to make it less moderate.

He also called for more user-friendly features, among them adding an edit button.

Earlier in April, Elon Musk purchased a 9.2% stake in Twitter, becoming the biggest shareholder in the company.

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