Wednesday, May 31, 2023
Wednesday, May 31, 2023

    Elon Musk buys Twitter for $54.20 per share in takeover deal worth $44BN: Tesla tycoon takes social media giant private and promises ‘new features, to defeat the spam bots and to make the algorithms open source to increase trust’

    Your Content is a nonprofit newsroom that investigates abuses of power. Sign up to receive our biggest stories as soon as they’re published.

    Get Your Content. Daily.

    Be the first to know about the biggest stories as they break. Sign up for breaking news email alerts from Your Content.

    Elon Musk has seized control of Twitter for $44billion as weeks of rollercoaster negotiations finally came to a close this afternoon, Your Content has learned.

    The world’s richest man, 50, agreed to pay shareholders $54.20 in cash for each share of their common stock.

    - Advertisement -

    The move shifts control of the social media platform populated by millions of users to the world’s richest man.

    The Tesla magnate vowed to protect free speech online, ‘defeat the spam bots’ and ‘authenticate all humans’

    He said he would ‘enhance the product with new features’ and ‘make algorithms open source to increase trust’

    Parag Agrawal said he was ‘proud of our teams and inspired by the work that has never been more important’

    - Advertisement -

    Chair Bret Taylor said the board ‘conducted thoughtful and comprehensive process to assess Elon’s proposal’,‘according to Yahoo News.

    Your Content for the latest updates. Have a story or news tip? Contact our 24/7 newsroom at 833.336.8013 or e-mail our tip line: [email protected]

    - Advertisement -