Photo: Screenshot from YouTube Live video by Tesla
Remember when Elon Musk bought a nine percent stake in Twitter, which may probably be his favorite social network and way of communicating? Well, the owners of Twitter have signed a memorandum of understanding with Elon Musk, and it will be acquired by an entity that is entirely owned by the South-African billionaire.
According to Twitter, the deal involves a price of $54.20 per share in cash, and the total value of the transaction is approximately $44 billion. That is an incredible amount of money, and the price of Twitter stock had risen by 38 percent since the day before Elon announced his share in the matter.
As usual, Elon Musk had something to say about the entire deal, but he was concise enough to fit it all in a single tweet. Musk stated as follows: "I hope that even my worst critics remain on Twitter, because that is what free speech means."
We also hope that happens, and we are a bit curious about what will happen once the social network is owned by a private party.
Mind you, the transaction has been unanimously approved by Twitter's Board of Directors, and it is expected to close later this year. Before that happens, company stockholders, regulators, and other parties will have to sign off on the deal.
Once the deal is done, Elon will join the list of billionaires that own a social media company or a media company, which is not something that was taken lightly by free speech advocates in the days that have passed since Elon announced he wanted to buy Twitter altogether.
We already know that Elon Musk wanted an Edit button on Twitter, but what matters most in this matter is free speech, and Elon's official statement underlined the latter aspect.
The couch-surfing billionaire stated that he wants to defeat the spambots, make the algorithms open-source so that there will be more trust in the product, as well as enhance the entire experience with new features.
As usual, Elon Musk had something to say about the entire deal, but he was concise enough to fit it all in a single tweet. Musk stated as follows: "I hope that even my worst critics remain on Twitter, because that is what free speech means."
We also hope that happens, and we are a bit curious about what will happen once the social network is owned by a private party.
Mind you, the transaction has been unanimously approved by Twitter's Board of Directors, and it is expected to close later this year. Before that happens, company stockholders, regulators, and other parties will have to sign off on the deal.
Once the deal is done, Elon will join the list of billionaires that own a social media company or a media company, which is not something that was taken lightly by free speech advocates in the days that have passed since Elon announced he wanted to buy Twitter altogether.
We already know that Elon Musk wanted an Edit button on Twitter, but what matters most in this matter is free speech, and Elon's official statement underlined the latter aspect.
The couch-surfing billionaire stated that he wants to defeat the spambots, make the algorithms open-source so that there will be more trust in the product, as well as enhance the entire experience with new features.
I hope that even my worst critics remain on Twitter, because that is what free speech means
— Elon Musk (@elonmusk) April 25, 2022
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