Elon Musk buys Twitter for $44B and will privatize company
Elon Musk reached an agreement to buy Twitter for roughly $44 billion on Monday, promising a more lenient touch to policing content on the platform where he promotes his interests, attacks critics and opines on a wide range of issues to more than 83 million followers.
The outspoken Tesla CEO, who is also the world’s wealthiest person, has said he wanted to buy and privatize Twitter because he thinks it’s not living up to its potential as a platform for free speech.
The risk is that Musk goes too far in his hands off approach, potentially alienating users and advertisers.
Shares of Twitter Inc. rose 5% Monday to $51.70 per share, below the $54.20 he offered for the company.