Elon Musk now officially owns Twitter and has taken over all the control. The deal has closed on approximately $44 billion with shares valued at $54.20. Musk announced his takeover bid on April 14, calling it his ‘best deal and final offer’.
Musk is the world’s richest man, and all his achievements are self-crafted. Taking over Twitter is one of the world’s most significant deals in the tech world and has added one more feather to his hat.
“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated. I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spambots, and authenticating all humans. Twitter has tremendous potential ━I look forward to working with the company and the community of users to unlock it,” Musk said in a press statement posted on his Twitter account.
Under the deal, shareholders will receive $54.20 in cash for each Twitter share they own, matching Musk’s original offer and marking a 38% premium over the stock price before Musk revealed his stake in the company.
Now it is to see what changes will Musk bring to the Twitter platform. The Tesla co-founder has spoken in the past about an ‘Edit Button’ on the platform and, in fact, even held a poll where he deliberately misspelled yes or no. He highlighted that an edit button is needed to correct the typos that people tend to make while tweeting. Twitter has already noted it and introduced an ‘Edit Button’.
This is one change so far that Elon brought to the Twitter platform. Let’s see what’s next!