Famous entrepreneur, CEO of Tesla, and SpaceX founder Elon Musk can finally add the owner of Twitter to his resume. The Twitter board unanimously approved the deal after evaluating Elon Musk’s offer on Sunday. The exchange is expected to close this year.
A New Twitter Era
Elon Musk, a meme lord himself, will create a whole new era of Twitter. According to his statement, Elon Musk plans to enhance Twitter and make it better than ever. He plans on “adding new features, making the algorithms open source to increase trust, defeating the spambots, and authenticating all humans.”
Tesla CEO Elon Musk has stressed the importance of his goal, which is to fortify free speech on Twitter and unlock the extraordinary potential of the social media platform. Elon even said in a tweet Monday that he hopes “even my worst critics remain on Twitter because that is what free speech means.”
Elon Musk said in a statement on Monday,
“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…Twitter has tremendous potential — I look forward to working with the company and the community of users to unlock it.”
Elon Musk Twitter Deal Increases Stocks
One Twitter independent board chair Bret Taylor called the deal “the best path forward for Twitter’s stockholders.” Although the agreement is pending approval from shareholders and regulators, the Twitter stock has gone up about 6% since the deal’s announcement, with each share now approximately $51.84, right around the offer price.
What do you think of Elon Musk’s $44 Billion deal with Twitter? What do you think will change about Twitter with the Tesla CEO taking over? Let us know what you think in the comments down below. As always, we love to hear from you here at The Nerd Stash.