Elon Musk buys Twitter

After week-long speculations, the richest man in the world Elon Musk has finally bought Twitter. The micro-blogging site was handed over to Musk at the cost of $44 billion.

Commenting on buying Twitter, Elon Musk stated, “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,” said Elon Musk.

Elon Musk showed interest in Twitter when he started buying shares in Twitter in January 2022 and by March 14, Musk had acquired an over 5 percent stake in the company.

Earlier, on March 24, the billionaire was seen criticizing Twitter for “failing to adhere to free speech”.

 “Worried about de facto bias in the Twitter algorithm having a major effect on the public; Twitter algorithm should be open source,” Musk had tweeted.

Now, after striking the deal, Twitter will be wholly owned by Elon Musk for $54.20 per share in cash in a transaction valued at approximately $44 billion.