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Elon Musk Strikes Deal To Buy Twitter For $44 Billion

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📷 SPLASHNEWS/UNCRAZED COMPOSITE

Elon Musk is set to acquire social networking site, Twitter, in a deal worth an eye-watering $44 billion.

News of the Tesla CEO and Twitter striking a deal broke yesterday.

When the deal officially goes through, the networking site will become a privately held company.

Musk released a statement across the site, tweeting it to over 84 million followers.

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“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town squad where matters vital to the future of humanity are debated,” he wrote.

“I also want to make Twitter better than every by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans.”

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Musk added: “Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it.”

The tweet has already surpassed two million likes.

Jack Dorsey, the founder of Twitter, believes Musk’s ownership has set Twitter on ‘the right path’.

“Elon’s goal of creating a platform that is “maximally trusted and broadly inclusive” is the right one,” he tweeted. “This is also Parag Agrawal’s [Twitter CEO] goal, and why I chose him [as his successor].

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“Thank you both for getting the company out of an impossible situation.

“This is the right path… I believe it with all my heart.”

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The takeover is expected to be completed this year.”

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