Twitter’s management board has just proven that $44 billion can’t be rejected. Elon Musk has reached a formal deal to buy the company as of yesterday.
Elon Musk is among the wealthiest people on the Globe and renowned for his significant Companies, such as Tesla and SpaceX. Musk has added Twitter to his long list of holdings. The billionaire has so succeeded in his gamble to capture the social network a little over a week after proposing to acquire it for $ 54.20 a share.
This official news which has been in the plans since last week, is unlikely to surprise anybody. Our colleagues at Bloomberg had already hinted that the deal was on the verge of being reached. The information has now been verified thoroughly.
As The Verge points out, this purchase came when Twitter said that it would reject Elon Musk’s hefty offer, even though Musk had previously declined a position on its board of directors.
It’s worth noting that it’s unclear what route Elon Musk would go with his new purchase. The billionaire, who calls himself an absolutist of freedom of speech, had said that he intended to unleash the potential of Twitter by pressing for the firm to revert to private ownership so that he could have more control over it.