The Elon Musk Twitter deal has just been confirmed, and he is taking the company private for approximately $44-billion, or $54.20 per share. What does he have planned for the social media giant? Musk aims to enhance the product with new features, such as making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans.
This deal represents a 38% premium to Twitter’s closing stock price on April 1, 2022, which was the last trading day before Elon Musk disclosed his 9% stake in the company. Twitter CEO Parag Agrawal stated that “Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important.” With all the upcoming enhancements, the Samsung “The Sero” TV is the perfect Twitter companion.
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Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” said Elon Musk.