World’s richest man, Elon Musk obtains Twitter, one of the most influential social media platforms. Twitter announced about the major deal on Monday 25th April 2022. The transaction valued at approximately $ 44 Billion, making twitter a privately held company.
As per the terms and conditions of agreement, Stockholders of Twitter will receive $ 54.20 in cash for each share of Twitter common stock that they own after closing of the proposed transaction.
Elon Musk has been a steadfast proponent of ‘free speech’ on the platform. He believes that twitter has extraordinary potential to be the platform for free speech, which is a societal imperative for a functioning democracy.
The major deal will give Elon Musk freedom to make the changes he wants in business. He is looking forward to making improvements in twitter by allowing longer posts and introducing the ability to edit them after they have been published.
