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Elon Reeve Musk FRS is an entrepreneur, investor, media proprietor and business magnate. He is the founder, CEO, and Chief Engineer at SpaceX; early-stage investor, CEO, and Product Architect of Tesla, Inc.; founder of The Boring Company; and co-founder of Neuralink and OpenAI.Why did Elon Musk want to buy Twitter? Musk has said he wants to promote free and open speech on the service, which he has said he sees as an essential place for sharing viewpoints. During a TED interview shortly after announcing his bid, he expanded on some of his plans.
The board of Twitter has agreed to a $44bn (£34.5bn) takeover offer from the billionaire Elon Musk. Mr Musk, who made the shock bid less than two weeks ago, said Twitter had "tremendous potential" that he would unlock.
Jameela Jamil has announced that she's leaving Twitter after news that Elon Musk has purchased the platform. The Tesla founder successfully acquired the social media site on Monday (25 April) for around $44bn (£34.5bn). As a result, Twitter will now be a privately owned company. Nicole Vassell has the story.
The social media giant confirmed Monday the Tesla CEO and billionaire will acquire the company in a deal worth $44 billion. Once the deal is complete, which is expected by this year, Twitter will become a privately held company.
Why does Elon Musk want to buy Twitter? Under the terms of the deal, Twitter will become a private company and shareholders will receive $54.20 per share, the company said in a news release. The deal is expected to close this year.
Musk owns 21% of Tesla but has pledged more than half his stake as collateral for loans. He contributed much of its funding in its early days, and has been CEO since 2008. Tesla, whose main focus is electric vehicles, has seen its value skyrocket as people become more invested in renewable energy.
“In 2002 Elon Musk got $176 million when PayPal sold to eBay , ” writes Nicholas Colas, co-founder of DataTrek Research. “He reinvested much of that into Tesla , SpaceX, and other startups. Now, he is worth $274 billion.”
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