Less than two weeks ago, Elon Musk has made the shocking bid and now the board of Twitter has decided to agree on his $44bn takeover offer. Initially, Twitter rebuffed Mr. Musk’s bid. But later the firm asked shareholders to vote to approve the deal.
Mr. Musk mentioned that Twitter had “tremendous potential” and he would like to unlock those. Mr. Musk has called for a series of changes including relaxing its content restrictions to eradicating fake accounts.
Mr. Musk shared a statement to explain his recent deal. He said, “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.” He also added, “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. Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it.”
According to Forbes magazine, Mr. Musk is one of the world’s richest persons. His estimated net worth of $273.6bn. His maximum shares come from the electric vehicle maker Tesla. He also leads the aerospace firm SpaceX.