Elon Musk becomes owner of Twitter: Tesla founder bought for $ 44 billion, cash deal for $ 54 for every share
Tesla CEO Elon Musk has become the new owner of Twitter. Musk has made a deal of $ 44 billion, i.e. 3,368 billion rupees to buy this micro blogging site. Twitter’s independent board chairman Brett Taylor gave information about the deal with Musk in a press release at 12.24 pm Indian time.
Musk will have to pay $ 54.20 (Rs 4,148) for every share of Twitter. He already has a 9% stake in Twitter. He is the largest share holder of Twitter. After the latest deal, he will have 100% stake in the company and Twitter will become his private company.
What’s in the deal and how did it get approved?
According to the report of CNN, after becoming a company owned by Elon Musk, all the shareholders of Twitter will get $ 54.20 i.e. Rs 4,148 cash for every share. This share price is 38% higher than before Musk disclosed his 9% stake in Twitter.
Musk said last week that he had financed $46.5 billion to buy Twitter. After this, the board of Twitter took a fresh look at Musk’s offer. On Sunday, an important meeting of Twitter’s board was also held to discuss Musk’s offer.
Musk talks about unlocking Twitter
It was reported late on Monday evening that Twitter’s board had accepted Musk’s offer. In such a situation, it was almost decided that Musk would be the new owner of Twitter. After the micro-blogging site’s purchase deal was finalized, Musk tweeted advocating for free speech. Along with this, he talked about unlocking Twitter.
Twitter’s stock rose 6% on deal talk
On Monday, discussions continued throughout the day about Elon Musk buying Twitter. This had led to a 6% jump in Twitter’s stock. After coming into the hands of Musk, people expect big growth in the company. Musk himself has also said that Twitter has a lot of potential.
After the deal, Musk tweeted: “Hopefully my worst critics stay on Twitter, because that’s what free speech means.”
Supporters of Freedom of Speech on Twitter
Elon Musk is the richest businessman in the world. He is in favor of Freedom of Speech. He also cited the reason behind his intention to buy Twitter that the freedom of speech on this social media platform is under threat and he wants to ensure that it remains. Musk’s profile can be understood from the graphic below.
217 million active users worldwide
The importance of micro-blogging site Twitter can be gauged from the fact that it has 217 million active users worldwide. The highest of these 77 million are in America. The second number is Japan, where 58 million people use Twitter. At the same time, India is number three with 24 million users.
500 million tweets every day, 38% of users are young
Around 500 million tweets are made every day around the world. The special thing is that 38% of Twitter users are young. Their age is between 25 and 30 years. Each person has an average of 707 followers. If all these figures are combined, then the number of people connected to Twitter in some form or the other around the world goes out to more than 217 million.
Musk was previously the largest shareholder in Twitter
Even before the deal to buy Twitter was finalized, Elon Musk was Twitter’s largest shareholder with a 9.2% stake. He is followed by Vanguard Group, which holds 8.8%. Now Musk will own 100% of Twitter and it will become a private company of his.
The tussle between the Twitter management and Musk continued
Musk revealed about 4 weeks ago to buy a 9.2% stake in Twitter. With a 9.2% stake, he became Twitter’s largest shareholder. Since then, there has been a lot of tension between Musk and Twitter. Twitter CEO Parag Agarwal invited Musk to join Twitter’s board of directors on April 4. On April 9, Musk told Twitter that he would not be joining the board.
