In a statement, Bret Taylor, Twitter’s chairman, said the board had “conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing. The company has repeatedly been forced to create policies on the fly to deal with unexpected situations. Trump frequently turned to Twitter to insult and inflame, before getting barred from the platform after the Jan. In recent years, Twitter has also become a lightning rod for controversy, as some users spread misinformation and other toxic content on the service. Political leaders have used it as a megaphone, while companies, celebrities and others have employed it for image-making and brand building. Twitter is not the biggest social platform - it has more than 217 million daily users, compared with billions for Facebook and Instagram - but it has had an outsized role in shaping narratives around the world. Musk could work on the service out of sight of the prying eyes of investors, regulators and others.
The billionaire, who has more than 83 million followers on Twitter and has romped across the service hurling gibes and memes, has repeatedly said he wants to “transform” the platform by promoting more free speech and giving users more control over what they see on it.
Musk, 50, to buy the social media company - and immediately raises questions about what he will do with the platform and how his actions will affect online speech globally. The blockbuster agreement caps what had seemed an improbable attempt by the famously mercurial Mr. The deal, which has been unanimously approved by Twitter’s board, is expected to close this year, subject to a vote of Twitter shareholders and certain regulatory approvals. “Twitter has tremendous potential - I look forward to working with the company and the community of users to unlock it.” Musk said in a statement announcing the deal. “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,” Mr.
Musk has said he will do with Twitter - in at least two decades, according to data compiled by Dealogic. It would be the largest deal to take a company private - something Mr. Musk for $54.20 a share, a 38 percent premium over the company’s share price this month before he revealed he was the firm’s single largest shareholder. Getty ImagesĮlon Musk struck a deal on Monday to buy Twitter for roughly $44 billion, in a victory by the world’s richest man to take over the influential social network frequented by world leaders, celebrities and cultural trendsetters. Elon Musk, with more than 83 million followers on Twitter, has said he wants to “transform” the social media platform by taking it private.
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