Printed on Wed Aug 10 2022 5:16:23 PM

The Billionaire Elon Musk buys Twitter at $44bn!

International desk
World
The leading group of Twitter has agreed to a $44bn (£34.5bn) takeover offer from the billionaire Elon Musk.

Elon Musk, who made the shock bid less than two weeks ago, said Twitter had "huge potential" that he would unlock.

He also called for a series of changes from relaxing its content restrictions to eradicating fake accounts.

The firm initially rebuffed Mr. Musk's bid, however, it will currently ask shareholders to vote to endorse the arrangement.

 

Elon Musk is the world's richest person, according to Forbes magazine, with an estimated net worth of $273.6bn mostly due to his shareholding in electric vehicle maker Tesla which he runs. He also leads the aerospace firm SpaceX.


"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," he said on Twitter.

"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," he added.

"Twitter has tremendous potential - I look forward to working with the company and the community of users to unlock it."

 

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