Elon Musk is now the new owner of twitter. He signs a deal with the company for $44 billion. Elon Musk is the founder and CEO of the electric automobile company Tesla as well as the aerospace company SpaceX. It banned former US President Donald Trump, arguably its most powerful user, last year, citing the possibility of “violent incitement.”
The transaction is likely to be finalised later this year, with shares up over 5% on Monday. Mr. Musk has stated that he is unconcerned about the purchase’s finances. However, Twitter has never made a profit, and its user growth has stalled.
Elon Musk has acquired $25.5 billion in funding for the transaction and will own a $21 billion share in the company. The bid was approved by the board unanimously, and it will now be presented to shareholders. Twitter fought back by threatening to diminish the shareholdings of anyone with more than 15% ownership.
The CEO of the electric car manufacturer will now have complete control over the corporation. He claims that he will make the algorithm for Twitter’s algorithm public so that people may better understand how it works. The move opens the possibility of Donald Trump returning to the site, however, he has reportedly stated that he would prefer to use his own social media platform, Truth Social, for the time being.
All About Elon Musk
Elon Musk was born in Pretoria, South Africa, and raised there. He attended Queen’s University in Canada before enrolling at the University of Pennsylvania. Zip2, which he co-founded with his brother Kimbal, was purchased by Compaq for $307 million in 1999. He created SpaceX, an aircraft manufacturer and provider of space transportation services, in 2002. Also, he was a founding member of SolarCity, a solar energy services company that was later purchased by Tesla and renamed Tesla Energy.
He founded Neuralink, a neurotechnology startup that develops brain-computer interfaces, in 2016. Elon won a slander suit brought against him by a British cave rescuer who advised on the Tham Luang cave rescue in 2019. In 2018, Elon Musk was inducted into the Royal Society of Engineering as a fellow. In 2010, 2013, 2018, and 2021, he was named one of Time magazine’s 100 Most Influential People. He was elected a member of the National Academy of Engineering in 2022.
Also Read: Elon Musk and Grimes’ Relationship Timeline!
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