World's Richest Man, Elon Musk, Bought Twitter For $44 Billion

It's official! Elon Musk bought Twitter at a staggering amount of $44 billion, and the deal was made with the shares valued at $54.20. Earlier on April 14th, Musk announced his "best and final offer" as a takeover bid for Twitter. This deal is considered the world's biggest deal in the tech world. 

Previously, when Elon Musk announced his bid, Twitter initiated a "poison pill defense" against the hostile takeover. But, the board went into negotiation with Mr. Musk when he announced that he had secured funds for the acquisition. According to the Wall Street Journal, Musk had private meetings with some shareholders to complete the deal smoothly.

After the Twitter acquisition, Tesla co-founder Elon Musk said that free speech is the bedrock for democracy to function in a press conference. He also stated “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”.

Earlier, Musk had spoken about including the "Edit Button," He also held a poll for the netizens if Twitter should have the "Edit Button." After that, Twitter announced that it has been working on the "Edit Button" feature for quite a time now, and it will be included in the future. 

After the new CEO, Parag Agarwal took the position of CEO last year; the company introduced various monetization features like subscription products, etc. With this acquisition, Musk has given hope for the potential commercial growth of Twitter as the platform has been struggling to make profits. Musk has also proposed to take Twitter private.