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Elon Musk Buying Twitter For $44 Billion

Elon Musk and Twitter

Multi Billionaire Elon Musk has offered to purchase the social media giant company Twitter for $44 billion. 

A regulatory filing on Thursday said Musk's offer price was $54.20 per share, which represents a 38% premium to Twitter's April 1 closing price, the last trading day before Musk's more than 9% stake was disclosed.

Twitter is an American microblogging and social networking service on which users post and interact with messages known as "tweets".

Since making my investment I now realise the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company,” Musk said in a letter to Twitter Chairman Bret Taylor.

“My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder,” Musk 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. 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,” Musk said in a press statement posted to his Twitter account.

Tesla's co-founder has also discussed an 'Edit Button' on the platform and held a poll in the past

A new Edit button has been confirmed by Twitter.

During premarket trading, Twitter shares jumped 12%.

New Twitter CEO, Parag Agarwal says, “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.“

But the twist here is, not all happy with these deal, #leavingtwitter is currently trending at the time of writing.

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