Twitter has announced that the world’s richest person Elon Musk has bought social media company Twitter for $44 billion. The company said its board has accepted billionaire Elon Musk’s offer to buy Twitter. He said the proposed transaction would yield a substantial cash premium and was the best path forward for Twitter’s shareholders.
According to the terms of the deal, shareholders will receive $542 in cash for each share of Twitter stock they own.
Mr Musk, who made a surprise bid less than two weeks ago, said Twitter has tremendous potential to showcase its potential. He called for a slew of changes, from easing restrictions to eliminating fake accounts.
Twitter’s current CEO Parag Agarwal has said that the purpose and relevance of Twitter affects the whole world.
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