It’s been confirmed, the world’s richest man now owns Twitter.
Twitter’s board has accepted Elon Musk’s offer to buy the social media company for $44 billion. The announcement has been made after weeks of deliberation after Elon offered to buy the company at $54.20 per share, his “best and final.”
Shortly after Musk announced the purchase plan, Twitter’s board appointed a “poison pill” measure, suggesting it intended to resist Musk’s buyout. It’s unclear what led to the company’s change of heart.
It’s unclear what impact Musk will have on Twitter, or where he’ll start with changes. When he first disclosed his 9.2 percent stake in Twitter, he polled Twitter users on the creation of an “edit” button, which Twitter was already developing.
And for the crypto community enthusiasts, get this. Musk later suggested that he is going without ads from Twitter Blue, lowering its subscription price, and adding Dogecoin as a payment option. For all those who lost hope in Dogecoin, the Doge may be back in action after this buyout.
However, at the TED2022 conference, Musk presented how he would like to see the platform change under his ownership.
“I think it’s very important for there to be an inclusive arena for free speech,” he said at the time. Musk also shared that he would prefer “time-outs” over permanent bans. This move of purchasing Twitter with the ideals of freedom of speech, suggest that former President Donald Trump will have access to rejoin the Twitter platform under his regime.
Twitter banned Trump from the platform following his tweets around the Jan. 6 after the invasion of the U.S. Capitol, citing “the risk of further incitement of violence.” Some Republican law enforcements have expressed excitement at the prospect of Musk owning the company.
While certain Republicans have expressed their joy, so has the stock market. Many people with great speculation that the offer would be accepted today, hopped onto Robinhood and Webull and bought several shares and options of Twitter. Even though the market closed shortly after the offer was accepted, it’s almost a guarantee that anything attached to Elon’s name, has gone up.
This story is developing. Check back for updates.