• Other companies that Musk owns include, rocket company SpaceX and carmaker Tesla.

• Musk's acquisition was backed by Twitter co-founder Jack Dorsey.

buys Twitter
Elon Musk buys Twitter
Image: courtesy

It is official that world's richest man, Elon Musk has agreed to acquire Twitter in a $44 billion (Sh 5.1 trillion) deal!

This mega-deal just expands the multi-billionaire's business empire and grows his massive portfolio.

In a statement on Monday, Musk wrote, “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 spambots, and authenticating all humans.”

He added, “Twitter has tremendous potential — I look forward to working with the company and the community of users to unlock it.”

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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