General

Elon Musk Bought Twitter: What Happens Next?

Today’s most popular social media application; bought by today’s most popular name. Don’t you know what I’m talking about? Of course, I’m talking about Twitter and Elon Musk!

Twitter’s board of directors accepted Elon Musk’s offer of $54.20 per share to buy the social media company yesterday, while the company’s total value was 44 billion. This was recorded as the third largest acquisition by value in technology companies to date.

Previously, Dell bought EMC for $67 billion and AMD bought Xilinx for $50 billion. Elon Musk agrees to buy Twitter for approximately $44 billion It is noteworthy that Musk will buy Twitter by sacrificing one-fifth of his wealth with payment above the GDP of 100 countries.

In the statement made on Twitter, after the completion of the acquisition, the company will also lose its feature of being a public company, which has been going on since its initial public offering in 2013. The price of Twitter shares, which gained 5.7 percent yesterday after the news, completed the day at $ 51.7.

Elon Musk Bought Twitter: What Happens Next? General  Twitter news Twitter Social media application Social media Elon Musk
Elon Musk

Why Did Musk Buy Twitter?

While there were speculations that Musk would buy the social media company for such a high price, he also brought up the roles of social media platforms such as “freedom of expression, disinformation and interfering with the information flow”. Elon Musk, who has 84.7 million followers on Twitter, is known as the biggest “crypto influencer” with his posts from his account.

Using very clear statements on Twitter about the potential he sees in cryptocurrencies, Musk causes rallies in cryptocurrencies with some of his shares. Dogecoin, which Musk tweeted frequently before, rose more than 30 percent with the news that Twitter’s sales agreement was positive.

How Did It Start?

Musk’s desire to have control over Twitter first made itself felt in early April. The world-famous billionaire announced on Twitter on April 4 that he bought 9.2 percent of the shares. After the said share purchase, Musk began to explore ways to “heal Twitter.” However, it was stated that Musk, who is on the agenda with his investment, will not enter the company’s board of directors. Twitter Chief Executive Parag Agrawal stated that Musk is the largest shareholder and that they will continue to be open to his suggestions.

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button