Twitter: Company agrees sale to Elon Musk

Company agrees to sell to Elon Musk

Elon Musk has big plans for Twitter.

© Kathy Hutchins/

Elon Musk and Twitter have agreed: The entrepreneur will buy the short message service for 44 billion US dollars.

The deal between Elon Musk (50) and Twitter has come about: The 50-year-old will buy the company behind the short message service, as Twitter announced late Monday evening. Accordingly, a “final agreement” had been reached. Elon Musk will pay $54.20 per share. This results in a mega deal of around 44 billion US dollars, the equivalent of 41 billion euros. “Upon completion of the transaction, Twitter will become a privately held company.”

Elon Musk wants to make Twitter ‘better than ever’

Elon Musk said in a statement that freedom of expression is “the basis of a functioning democracy”. “Twitter is the digital marketplace where important issues for the future of mankind are debated,” he is quoted as saying. The entrepreneur also stated that he has big plans for the short message service: “I want to make Twitter better than ever by improving the product with new features that open source algorithms to increase trust, reduce spam – Defeat bots and authenticate all humans.” Twitter has “enormous potential”. Musk looks forward to “working with the company and the user community to unlock it.”

According to the announcement, the acquisition was unanimously approved by Twitter’s board of directors and is expected to close in 2022.

Musk announced his intention to buy Twitter on April 14. “I made an offer”, he had made public on the short message service. He had announced that he would pay $54.20 per share. This is his best and final offer.


source site