Lagatar24 Desk
New Delhi, April 26: World’s richest man amd Tesla Inc. chief Elon Musk has finally purchased a 100% stake in Twitter for approximately $44 billion, or $54.20 per share, in cash.
For some weeks, the microblogging site has been weighing Musk’s offer. Musk previously stated that Twitter had “amazing potential,” which he wishes to realise.
After the deal to take Twitter private under billionaire Elon Musk closes, Twitter CEO Parag Agrawal reminded staff on Monday that the company’s future is uncertain. He was addressing at a company-wide town hall gathering, according to Reuters.
Musk will meet with Twitter employees for a question-and-answer session at a later date, according to the firm.
Many queries concerning Musk’s ambitions for the company, the likelihood of layoffs, and the board’s rationale for the transaction were deflected by Agrawal as issues that should be directed to Musk.
Musk has stated that he believes Twitter should be a free expression platform. Employees questioned Agrawal if former US President Donald Trump, who was banned from Twitter permanently last year, would be able to return after Musk took charge.
The arrangement with Musk prioritised “operational continuity” until the acquisition was closed, according to Bret Taylor, the chair of Twitter’s board of directors.
“I think we feel very comfortable that (the deal) gives this team the ability to continue to make the company successful in between signing and closing the transaction,” Taylor said.
Meanwhile, Twitter Inc. co-founder Jack Dorsey remarked that the only solution he trusts for the platform is the world’s richest man.
Dorsey, who took Twitter public in 2013, claimed that Wall Street “owned” the firm and that turning it private was the “right” first move. According to Bloomberg data, he owns 2.36 percent of the company.
“Twitter as a company has always been my sole issue and my biggest regret,” Dorsey wrote in a thread. “Solving for the problem of it being a company however, Elon is the singular solution I trust,” he said.
