Controversial takeover: Musk buys Twitter for $44 billion

Tesla boss Musk is buying short message service Twitter for about $44 billion. Last week, the Internet company’s board of directors tried to stop it. Musk plans a “global platform for free speech.”

Elon Musk acquired Twitter for $44 billion. The US Short Message Service announced this. The purchase talks started only on Monday night. Last week, Twitter’s board of directors tried to block an acquisition by Musk.

$54.20 per share

Twitter shareholders would therefore receive $54.20 per share — an offer the Tesla boss previously described as his “best and last.” Now it is up to the shareholders of Twitter whether they accept the offer or not. Twitter shares rose 6 percent. Musk had earlier announced that he wanted to take the US company private.

Musk is one of the most active celebrity Twitter users and has approximately 83 million followers. He announced that he wanted to make Twitter a “global platform for free speech” because it was “critical to civilization”. He wants to offer new functions that publicize short messaging algorithms to “increase trust” and he wants to “defeat” so-called spam bots.

In recent weeks, Musk has made several proposed changes, including rules suspending former President Donald Trump’s account. Trump was banned from Twitter after expressing sympathy to his supporters who stormed the US Capitol in Washington on January 6, 2021.

Meanwhile, Trump announced that he has no plans to return to Twitter, even if his account can be reactivated. He is staying on his social media platform, Truth Social, even though Musk is “a good guy” and will reform Twitter, he told US broadcaster Fox News.