September 27, 2022

Elon Musk buys Twitter for $44 billion

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American businessman Elon Musk will buy the social network Twitter for $44 billion. On Monday, April 25, Reuters reports.

Deal discussions that seemed uncertain last week accelerated over the weekend after Musk coaxed Twitter shareholders into detailing his financial proposal.

According to Musk, free speech is the foundation of a functioning democracy, and Twitter is a digital forum where important issues for the future of humanity are discussed.

Earlier in the day, it was reported that negotiations to sell American company Twitter to entrepreneur Elon Musk were in the final stages.

On April 23, the entrepreneur announced that he was buying the social network Twitter in order to create a public platform that enjoys maximum trust in society around the world and gives everyone the right to express their position.

Prior to this, on April 14, Musk offered to buy Twitter shares for $41 billion. Against this background, the company’s shares rose by 12%.

The leadership of the social network wanted the entrepreneur to agree to a seat on the board of directors. So it could be limited to a maximum stake of 14.9%. However, on April 11, the entrepreneur refused this offer.

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