PBA ReporterTesla chief executive, Elon Musk who is the world’s richest man, has finally won the fight to take over influential social network, Twitter for $44bn.
With this deal, the Tesla chief has become officially in charge of the Twitter microblog with over 217 million users, worldwide.
Reportedly, Twitter’s initial reluctance to accept the offer appeared to fade after Musk confirmed a funding package for the deal and shareholders warmed to it.
Recall that Musk had signalled that Twitter will be overhauled under his leadership. According to the world’s richest person, Twitter shall experience changes in content moderation, describing himself as a “free speech absolutist.”
Recall also that the deal finally came in after a dramatic few weeks of speculation about Twitter’s future, triggered by Musk’s emergence as the platform’s largest single shareholder on 4 April. He then declared a $43bn takeover bid on 14 April, which prompted Twitter’s board to signal its displeasure at his overtures by adopting a so-called “poison pill” defence 24 hours later.
Apparently, the initial position of Twitter’s board had to give way after Musk drew up a $46.5bn funding package for the bid, including $21bn of his own money. According to reports, both shareholders and the Twitter board began to take the offer seriously once finance were put in place.
Born Elon Reeve Musk FRS, the new Twitter daddy needs no introduction. Currently, he is the world’s richest person. Musk is an entrepreneur, investor, and business magnate. He is the founder, CEO, and Chief Engineer at SpaceX; early-stage investor, CEO, and Product Architect of Tesla, Inc.; founder of The Boring Company; and co-founder of Neuralink and OpenAI.
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