World's Richest Person, Elon Musk Buys Twitter For $44 Billion

Mumbai, April 26 - The Tesla and SpaceX CEO, Elon Musk bought Twitter for $44 billion on Monday. Once the deal is done, the richest person in the world will own arguably the most influential social platform in the world. The deal will close this year itself, pending approval from shareholders and regulatory agencies.

Elon Musk said at a conference that he made the offer to buy Twitter because it had "become kind of the de facto town square, so it is just really important that people have the reality and the perception that they are able to speak freely within the bounds of the law".



"This is not a way to make money. My strong intuitive sense is that having a public platform that is maximally trusted and broadly inclusive is extremely important to the future of civilization. I don’t care about the economics at all", he added.

After owning Twitter, Musk said in a statement on Monday, shared on Twitter, "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. I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans. Twitter has tremendous potential — I look forward to working with the company and the community of users to unlock it".

Meanwhile, Twitter co-founder and former CEO Jack Dorsey, has supported Elon Musk's Twitter takeover and said that he is the right man to take the platform to new highs. "In principle, I don't believe anyone should own or run Twitter. It wants to be a public good at a protocol level, not a company. Solving for the problem of it being a company, however, Elon is the singular solution I trust. I trust his mission to extend the light of consciousness", he said in a Tweet.



"Elon's goal of creating a platform that is “maximally trusted and broadly inclusive” is the right one. This is also @paraga's (Twitter CEO Parag Agrawal) goal, and why I chose him. Thank you both for getting the company out of an impossible situation. This is the right path... I believe it with all my heart", he added in the next tweet.

Dorsey, who stepped down as Twitter CEO last year, is set for a $978 million cash payout upon the deal of selling Twitter to Musk is officially done.

Stay tuned...