Md. Ashraful Islam: Elon Musk’s proposal was accepted by Twitter’s board of directors; The billionaire is dominating the social media for 44 billion.
The world’s most influential social media Twitter authority on Monday agreed to the proposal of the world’s richest man Elon Musk, CNN reported.
Musk says Twitter needs to be a privately owned entity for further development and to be a real platform for freedom of speech.
“I hope my final critic will be on Twitter too because that’s what free speech means,” he said the day before.
Musk announced his financing plans to buy Twitter on Thursday. That’s when he said it was his final offer to buy Twitter.
The company’s ordinary shareholders were urging managers to seriously consider Musk’s offer, Reuters reported on Sunday.
Twitter’s board of directors then met on Monday to discuss the mask’s proposal and decided to buy the mask for 4.4 billion.
As a result, most of Twitter’s shares will be owned by Tesla and SpaceX CEO Musk.
According to Forbes Magazine, Elon Musk, the richest man in the world today, will pay the majority of Twitter’s purchase price out of his own pocket. Tesla is not taking part in the transfer of ownership agreement.
Shares of Twitter rose 4.5 percent to 51.15 dollars on the New York Stock Exchange early Monday on news of Musk’s purchase.