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Elon Musk own Twitter at $44 Billion

Twitter has been taken over by Elon Musk. Musk will pay $44 billion for the social network, with shares valued at $54.20 each.
Elon Musk own Twitter at $44 Billion
Finally Elon Musk Own Twitter

Elon Musk, a billionaire, has taken ownership of Twitter in one of the largest tech deals in history. Musk will pay $44 billion for the social network, with shares valued at $54.20 each. On April 14, Musk revealed his takeover attempt, calling it his 'best and last offer.'

However, Twitter first put in place a "poison pill defence" against the hostile takeover. However, once Musk stated that he had obtained finance, the Tesla board entered into discussions with the co-founder of the company. Musk met "privately with some shareholders of the firm to laud the merits of his idea" on Friday, according to the Wall Street Journal, and also made video calls to them to press his case.

"I hope that even my worst critics remain on Twitter, since that is what free speech means," Musk said earlier today on Twitter. It's also worth noting that Musk sent out a fairly obnoxious tweet about Microsoft co-founder Bill Gates on Saturday, ostensibly in retaliation to Gates shorting Tesla. More than a million people have liked the tweet. He then quipped that his tweet was being reviewed by the'shadow ban council.'

On the platform, he has been a staunch supporter of 'free speech.' "I invested in Twitter because I believe in its potential to be the platform for free expression around the globe, and I believe free speech is a social imperative for a functioning democracy," Musk stated in a filing to the US Securities and Exchange Commission. "Twitter has extraordinary potential," he stated in the filing. "I'll get it unlocked."

Musk has obtained $25.5 billion in fully committed debt and margin loan funding, as well as an equity commitment of $21.0 billion. Meanwhile, before the market opens on April 28, 2022, Twitter aims to post its first quarter fiscal year 2022 earnings.

Musk has already floated the idea of privatising Twitter. "If our twitter bid succeeds, we will destroy the spam bots or die trying!" he tweeted recently. Then came another post in which he stated that all individuals on the site should be authorised.