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Businessman Elon Musk, has acquired Twitter in a $44 Billion (SH 5.1 trillion) deal.
This mega-deal just expands the multi-billionaire's business empire and grows his massive portfolio.
In a statement on Monday, Elon Musk wrote, “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.”
He added, “Twitter has tremendous potential — I look forward to working with the company and the community of users to unlock it.”
Elon’s acquisition was backed by Twitter co-founder Jack Dorsey, who said he had the utmost trust in the billionaire's mission of enhancing 'free speech' with one of the biggest social media platforms.
The former Twitter CEO wrote, in a thread, "In principle, I don’t believe anyone should own or run Twitter. It wants to be a public good at a protocol level, not a company. Solving the problem of it being a company, however, Elon is the singular solution I trust. I trust his mission to extend the light of consciousness.”
Among other companies that Musk now owns include, rocket company SpaceX and carmaker Tesla.
Mr. Musk is a regular Twitter user with more than 80 million followers.
Before the p he is giving "serious thought" to building a new social media platform after he asked people’s opinion on whether Twitter is an effective safe space for a free freedom of speech.
Elon Musk owned 73,486,938 shares in the social media platform as from 14 March, according to the Securities and Exchange Commission by then, the shares him the largest shareholder in the company, with more than four times the 2.25% holding of Twitter founder Jack Dorsey.
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