Main Highlights:
- Elon Musk said Monday that he had struck an agreement to purchase Twitter (April 25).
- The announcement that a deal was approaching conclusion came late Sunday, following weeks of public sparring between the social media behemoth and the world’s wealthiest person.
- Twitter, Inc. said today that it has entered into a formal agreement to be acquired by a company owned entirely by Elon Musk for $54.20 per share in cash, in a nearly $44 billion deal, according to a press release announcing the development.
- Users on Twitter exhibited a spectrum of feelings in response to the anticipated sale, ranging from excitement to concern.
- Alex Stamos, a former Facebook Chief Security Officer, took a moment to pitch for a service that would enable users to mass delete their direct messages.
Elon Musk said Monday that he had reached a deal to acquire Twitter (April 25). The news that a deal was nearing completion came late Sunday, following weeks of public back-and-forth between the social media giant and the world’s wealthiest person. Twitter, Inc. (NYSE: TWTR) said today that it has entered into a formal agreement to be bought by a company controlled entirely by Elon Musk for $54.20 per share in cash, in a deal valued at nearly $44 billion, according to a press statement announcing the announcement. When the acquisition is completed, Twitter will become a privately held firm.
Twitter users expressed a range of emotions in response to news of the impending sale, from enthusiasm to worry. Alex Stamos, a former Facebook Chief Security Officer, took a moment to pitch for a service that would enable users to mass delete their direct messages. Hello, Product Management at Twitter: This would be an excellent week to implement a ‘Delete all Direct Messages’ option, he commented as whispers of a possible sale circulated.
Twitter direct messages are renowned for not being end-to-end encrypted, which means that Twitter staff (or a vengeful owner) may read them. On the other hand, Musk has a documented history of making dubious statements on the platform he currently controls. Nothing could possibly go wrong.
About Elon Musk
Elon Musk (born June 28, 1971, in Pretoria, South Africa) is an American entrepreneur of South African ancestry who cofounded PayPal and founded SpaceX, a launch vehicle and spacecraft manufacturer. He was also one of its initial key investors and served as its CEO.
Musk was born in Johannesburg, South Africa, to a South African father and a Canadian mother. Early on, he had an aptitude for technology and entrepreneurship. At the age of 12, he created a video game and leased it to a technology journal. Musk departed South Africa in 1988 after obtaining a Canadian passport, citing his opposition to apartheid’s mandatory military service and his preference for the United States’ more substantial economic potential.
Musk has long been fascinated by the possibility of electric vehicles, and in 2004 he invested heavily in Musk has long been fascinated by the possibility of electric vehicles, and 2004 he invested heavily in Tesla Motors (later renamed Tesla), an electric vehicle business founded by entrepreneurs Martin Eberhard and Marc Tarpenning. Unlike the bulk of previous electric cars, which Musk deemed uninteresting and stodgy, this one was a sports car able of speeding from 0 to 60 miles per hour (97 kilometers per hour) in less than four seconds. The business raised around $226 million in its first public offering in 2010. Tesla followed up two years later with the Model S car, which received widespread praise for its performance and design. Additionally, the business garnered recognition for its Model X premium SUV, which launched in 2015. The Model 3, a more affordable automobile, began manufacturing in 2017.
