Washington [US], April 26 (ANI): Twitter on Monday (local time) confirmed the sale of the company to Tesla Chief Elon Musk for USD 44 billion. Under the terms of the deal, shareholders will receive USD 54.20 in cash for each share of Twitter stock they own, matching Musk’s original offer and marking a 38 per cent premium over the stock price the day before Musk revealed his stake in the company, CNN reported.
It further reported that the deal caps off a whirlwind news cycle in which the Tesla and SpaceX CEO became one of Twitter’s largest shareholders, was offered and turned down a seat on its board and bid to buy the company — all in less than a month. “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,” Musk said in a statement.
“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 spam bots, and authenticating all humans. Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it,” he added.
The deal comes after Musk revealed last week he had lined up USD 46.5 billion in financing to acquire the company, an apparent turning point that forced Twitter’s board to seriously consider the deal. The board met Sunday to evaluate Musk’s offer. Twitter CEO Parag Agrawal in a statement said “Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important.” (ANI)
Jack Dorsey says Elon Musk is ‘singular solution,’ for Twitter
Washington [US], April 26 (ANI): After Tesla Chief Elon Musk succeeded in his bid to take over Twitter, the former CEO of the microblogging site Jack Dorsey dropped a series of tweets, suggesting that he supports the move.
“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 for 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,” Dorsey tweeted.
Twitter on Monday (local time) confirmed the sale of the company to Musk for USD 44 billion. Under the terms of the deal, shareholders will receive USD 54.20 in cash for each share of Twitter stock they own, matching Musk’s original offer and marking a 38 per cent premium over the stock price the day before Musk revealed his stake in the company, CNN reported.
Dorsey called Musk buying Twitter a step in the right direction for the website. “Elon’s goal of creating a platform that is maximally trusted and broadly inclusive is the right one. This is also @paraga’s goal, and why I chose him. Thank you both for getting the company out of an impossible situation. This is the right path I believe it with all my heart,” he added.
For those unaware, Dorsey, the maverick co-founder of Twitter, on November 29, 2021, suddenly announced his resignation. Parag Agarwal, an IITian who was CTO at Twitter, was named his replacement. (ANI)
‘Moving on…’: Elon Musk’s cryptic message on Twitter
Washington [US], April 25 (ANI): Tesla and Space X CEO Elon Musk on Sunday tweeted a cryptic message which read “moving on …” Soon after the tweet, people started speculating the meaning of his tweet, some believing that Musk would probably give up on his dreams of buying out Twitter.
To clarify everyone’s doubts, the Tesla CEO revealed in his next tweet that he’s “moving on from making fun of Bill Gates.”
The tweet came a day after Musk shared a distasteful meme that apparently targeted Bill Gates over his bodyweight. The controversy sparked when Musk and Gates went into banter, with Musk asking Gates about his half a billion short position against Tesla.
“Do you still have a half-billion dollar short position against Tesla?” Musk asked. To which, Gates replied, “Sorry to say I haven’t closed it out,” adding that he would like to discuss “philanthropy possibilities” with Musk.
To this, Musk accused him of climate change hypocrisy as he replied, “Sorry, but I cannot take your philanthropy on climate change seriously when you have a massive short position against Tesla, the company doing the most to solve climate change.”
This Twitter banter comes after a dramatic week where Musk, the richest man in the world, secured USD 46.5 billion in finance to buy out Twitter, including USD 21 billion of his own wealth. (ANI)
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