The world’s richest man Elon Musk has reached a deal to buy Twitter for $44 billion. The deal to buy the microblogging platform was stuck yesterday, Monday, April 25.
It was no easy deal to reach. The centibillionaire had initially bought a 9 per cent stake in the company but decided to go all out and purchase the whole company.
He’d made an offer to buy Twitter for 43 billion. The board was said to be considering his offer at some point. Then it decided to adopt a “poison pill strategy” to ensure that no single entity could buy and control the company.
Well, it appeared like the Twitter board and Musk returned to the negotiation table. The Tesla boss, who had initially made his “best and final” offer, topped it with a billion dollars, bringing the total cap to $44 billion.
Musk has adduced many reasons for wanting to buy Twitter, including making it a market square for free speech.
However, some of the critics of the sale think it problematic that one person should own the highly influential platform. They also feared that the plan to make the platform a gun for free speech might backfire and turn it into a platform for misinformation.
