Mohammed Adib
Twitter on Monday approved the deal of the company to Elon Musk for $44 billion. Shareholders will obtain $54.20 in cash for each share of Twitter stock they own. This is one of the world’s greatest deals in the Tech world.
“Free speech is the bedrock of an operational democracy. And Twitter is the digital town square where people discuss topics important to the destiny of humankind. I also want to make Twitter better by improving the creation with new elements, making the algorithms open source to increase faith, defeating the spambots, and authenticating all humans.”
“Twitter has enormous possibilities. And I look forward to working with the company and the community of users to unlock it,” Musk said in a press report published on his Twitter account after the deal was approved
The action comes as Twitter faces growing force from politicians and regulators over the content that occurs on its medium. It has drawn critics from left and right over its measures to negotiate misinformation on the forum. In one of its high-profile actions, last year it banned former US President Donald Trump, its most powerful user, citing the risk of “incitement of violence”.
The company was founded in 2004 and ended in 2021 with $5bn in revenue. And it had 217 million daily users globally. Bret Taylor, chair of Twitter’s board, said it had thoroughly considered Mr. Musk’s proposal and it was “the best way ahead for Twitter’s stockholders”.
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