Controversial takeover: Musk buys Twitter for $44 billion

Status: 25.04.2022 21:52

Tesla boss Musk buys short message service Twitter for around $44 billion. Last week, the Internet company’s board of directors tried to prevent this. Musk plans a “global platform for free speech”.

Elon Musk takes over Twitter for $44 billion. This was announced by the US short message service. The purchase negotiations only started on Monday night. Last week, Twitter’s board of directors tried to prevent a takeover by Musk.

$54.20 per share

Twitter shareholders will therefore receive $54.20 per share – an offer that the Tesla boss had previously described as his “best and last”. Now it’s up to Twitter shareholders to decide whether to accept the offer. Twitter shares rose 6 percent. Musk had previously announced that he wanted to take the US company private.

Musk is one of the most active celebrity Twitter users and has around 83 million followers. He announced that he wanted to make Twitter a “global platform for free speech” because it was “important for civilization”. He wants to offer new functions that make the algorithms of the short message service public in order to “increase trust” and he wants to “defeat” so-called spam bots.

In recent weeks, Musk has made a number of proposed changes, including the rules that led to the suspension of ex-President Donald Trump’s account. Trump was banned from Twitter after expressing sympathy for his supporters who stormed the US Capitol in Washington on January 6, 2021.

Trump, meanwhile, announced he has no plans to return to Twitter even if his account can be reactivated. He’s staying on his own social media platform, Truth Social, even though Musk is “a good man” and will improve Twitter, he told US broadcaster Fox News.

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