You Belong Here

Funding Secured: Twitter Board Approves Elon Musk’s Takeover Bid at $44 Billion

After much speculation about the role of Elon Musk at Twitter having bought an individual 9.2% stake in the company making him the largest shareholder at the tech company, he is now the sole owner of Twitter. In a classic move by the Tesla and SpaceX billionaire head, Musk secured funding to pay $44 billion for the social media company.

The Tesla CEO has been sounding a battle cry for Twitter saying that “Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” saying his plans for the company remain solid and forward-looking.

Last week, Musk maintained that he had secured funding to the tune of $46.5 for the buy. Without a White Knight offering from another interested party, the Twitter board has let go of the reins in a lock, stock, and barrel takeover by the charismatic billionaire.

Twittersphere, and indeed the world, are angling to see what is Elon Musk’s next move; conjectures rent the air as to whether free speech will thrive under his rule, for instance, the return of Donald Trump to Twitter.

With 5 major companies to preside over, investors will be watching carefully to see whether Musk can keep a cool head and not spread himself thin.