It's official, Elon Musk is buying Twitter for an obscene amount of money 3 weeks ago

It's official, Elon Musk is buying Twitter for an obscene amount of money

The timelines, they are a-changin'...

Outspoken tech billionaire Elon Musk has officially clinched the deal to purchase Twitter.

Advertisement

The deal in question is worth a reported $44 billion.

As of April 2022, Twitter has 217 million users registered on its platform.

In recent weeks, it had been reported that executives attached to the social media giant were seeking to block the move via a 'poison pill' manoeuvre, only to appear to finally succumb to stock market pressure.

Confirming the colossal transaction via a statement issued on Monday evening (25 April), Musk, who has indicated an intention to loosen content moderation policy on the platform, said:

Advertisement

"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.

"I also wanted to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans.

"Twitter has tremendous potential," added Musk.

"I look forward to working with the company and community of users to unlock it."

Advertisement

Prior to the deal, Musk took to his incoming acquisition to declare that he will welcome his own personal critics to continue to use their freedom of speech.

"I hope that even my worst critics remain on Twitter, because that is what free speech means," he wrote.

Advertisement