Twitter accepted Elon Musk’s offer. The tycoon now owns the social network. Musk paid $ 54.20 per share, for a total of about $ 44 billion.
“Free speech is the foundation of a functioning democracy, and Twitter is the digital space where vital issues for the future of humanity are discussed,” Musk said in a statement included in the release. “I also want to make Twitter better by improving the product with new features, making the algorithms open source to increase trust, defeating spam bots and authenticating all humans.”
Twitter CEO Parag Agrawal applauded the deal in the release. “Twitter has purpose and relevance, which impact the whole world,” Agrawal said. “I am deeply proud of our teams and inspired by their work, which has never been more important.”
It is unclear what impact Musk will have on Twitter. When he revealed the acquisition of a 9.2% stake in Twitter, he offered Twitter users a survey on creating an “edit” button, which Twitter was already developing. He later suggested deleting the ads from Twitter Blue, lowering the subscription price, and adding Dogecoin as a payment option.
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