Elon Musk has officially bought Twitter. The richest man in the world is willing to pay $44 billion in cash to control the social media icon of the blue bird.
The Tesla and SpaceX boss immediately expressed his excitement on Twitter after the deal was reached. "Yesss!!!" he wrote.
Although his ambition to master Twitter fully succeeded, he promised to make Twitter a place for free speech for anyone.
"Freedom of speech is the cornerstone of democracy, and Twitter is the digital city square where what matters to humanity's future is debated," Musk said in the statement.
"I want to make Twitter better than ever by improving the product with new features, making the algorithm open source to increase trust, defeating spam bots, and authenticating all humans"
Musk's intention to annex Twitter has been conveyed to shareholders on April 13, 2022. The 50-year-old man was willing to pay USD 54.20 per share.
It's just that the desire initially did not go smoothly. A number of objections were voiced by a number of Twitter shareholders, one of which was Saudi Arabia's Prince AL Waleed bin Talal Al Saud.
"I can't believe @elonmusk's offer (USD54.20) is anywhere near the intrinsic value of @Twitter given its growth prospects," Al Waleed tweeted.
"Being one of Twitter's largest and long-term shareholders, @Kingdom_KHC & I turn down this offer."
But Musk's purchase of 100% Twitter shares was finally unanimously approved by Twitter's board of directors and board of commissioners. The deal is expected to be completed in 2022, and this will make Twitter a private company again.
"The Twitter board undertook a thoughtful and comprehensive process to assess Elon's proposal with a focus on value, certainty and financing," Twitter independent board chairman Bret Taylor said in a statement.
He called the deal "the best way forward for Twitter shareholders."
Commenting on the deal, Twitter CEO Parag Agrawal said, "Twitter has purpose and relevance that impacts the whole world."
"So proud of our team and inspired by work that has never been more important," he said.
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