August 8, 2022

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ELON MUSK

Elon Musk Buys Twitter for $44 Billion – NRK Urix – Foreign News & Documentaries

This corresponds to about 400 billion NOK.

Elon Musk stated in a press release that freedom of expression is the cornerstone of a functioning democracy and that Twitter is a forum where important issues are discussed.

I also want to make Twitter better than ever by improving the product with new features, making algorithms public, defeating spam bots, and authenticating everyone, he says.

Twitter has huge potential. He continues, saying I look forward to working with the company and the user community.

visa New York times He writes that one of the goals of the Twitter booth is Musk’s need to define what he sees as “extremely aggressive content management guidelines” that define what people can say on the website.

Privately owned

– When the acquisition is completed, Twitter will become a privately owned company, write it press releases.

Acquisition means that Musk buys the entire company and is taken out of the stock exchange.

The kiosk has been unanimously approved by Twitter’s board of directors, and they say the deal is completed in 2022.

Twitter writes that Musk has secured funding for the acquisition through $25.5 billion in loans and $21 billion in equity.

Musk and Twitter held negotiations after Musk imposed a fine of $43 billion, equivalent to 378 billion kroner.

This weekend the Tesla founder was in several conversations with Twitter’s board of directors where the topic was Musk’s plans to buy the company.

On Monday, Twitter shares rose 3.9 percent during the purchase negotiations. Later, there was a pause in trading while waiting for news from the company about negotiations with the founder of SpaceX.

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become an opponent

Twitter’s board of directors opposed Musk’s bid to buy the company and Twitter shareholders previously rejected Musk’s booth.

The Tesla founder said in early April that he had bought 9.1% of Twitter, or about 73.5 million shares. On Twitter, he said he wanted to make the service ad-free, despite the fact that about 90 percent of the company’s revenue last year came from ads.

A month ago, Musk revealed that he had plans to tease Twitter. In a message to his 80 million followers on Twitter, he said freedom of expression is essential to the success of democracy. He then asked followers if they thought Twitter followed this principle. 70.4% answered in the negative.

Celebrities, such as former President Donald Trump, have been banned from Twitter. He says he will not return to Twitter if Elon Musk’s recent confirmed takeover of the company results in the recovery of Trump’s account. It’s Reuters reports.