The massive deal will see Twitter become a private company with the shareholders receiving $54.20 in cash for each share they own. The deal is expected to close this year.
Musk's acquisition was backed by Twitter co-founder Jack Dorsey, who said he had the utmost trust in the billionaire's mission of enhancing 'free speech' with one of the biggest social media platforms.
"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 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," the former Twitter CEO wrote in a thread.
Adding, "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 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. I trust his mission to extend the light of consciousness.”
Among other companies that Musk now owns include, rocket company SpaceX and carmaker, Tesla.
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