The world’s richest man became the owner of the microblogging site, Twitter
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Meet The Most Powerful & Richest Man in the World,
His name is Elon Musk..
He just bought Twitter with the sum of $44 billion equivalent to 3 lack Crore Rupee's of India......
Elon Musk clinched a deal to buy Twitter Inc (TWTR.N) for $44 billion cash on Monday in a transaction that will shift control of the social media platform populated by millions of users and global leaders to the world's richest person.
The move comes as Twitter faces growing pressure from politicians and regulators over the content that appears on its platform. It has drawn critics from left and right over its efforts to mediate misinformation on the platform.
In one of its most high-profile moves, last year it banned former US President Donald Trump, perhaps its most powerful user, citing the risk of "incitement of violence".
At the time Mr Musk observed: "A lot of people are going to be super unhappy with West Coast high tech as the de facto arbiter of free speech."
News of the takeover has been cheered by the right in the US, although Mr Trump on Monday told Fox News he had no plans to re-join the platform.
Elon Musk is known for his wide-ranging business ambitions. He had started with what is popularly known as a dream to colonise space.
Twitter Inc. has announced that it has entered into a definitive agreement under which it will be acquired “by an entity wholly owned by Elon Musk.” The cash deal at $54.20 per share brings the total to roughly $44 billion.
Once the transaction is completed, Twitter announced Monday afternoon, that the company will go private.
“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,” Musk said.
“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.”
"I hope that even my worst critics remain on Twitter, because that is what free speech means," the Tesla CEO wrote ahead of the deal reveal. The purchase offer was reportedly accepted on Monday.
SpaceX and Tesla chief Elon Musk on Monday added yet another major company to his portfolio after the Twitter board gave its nod to a $44bn takeover offer from him.
The world’s richest man became the owner of the microblogging site in less than a month of announcing his offer to buy it.
While a lot would change with this deal including the change in the top leadership, it has made an Indian microblogging website “the only institutionally run micro blog in the world and not run by a 'single person'."
#ElonMusk promised that he will opensource #twitter algorithm, just after few hours of the announcement of his twitter acquisition. The algorithm repo showed up on github.This must be the most anticipated GitHub repo in history. Empty, but 4k stars already. Can imagine when "algorithm reveal parties" will be a thing in the future.
If the twitter algo is opensourced this will be a huge win for free speech, privacy and internet. This will have a huge impact on internet.
Will be interesting to see what happens more !
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Thank you!
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