Elon Musk reaches deal to buy Twitter for $44B US
The National

Elon Musk, the world's richest person, has bought Twitter for $44 billion (£34.5m billion) – and the jokes came rolling in.

Twitter founder Jack Dorsey welcomed the Tesla CEO with open arms, saying Musk's takeover of his company is “the singular solution I trust”.

In a string of tweets, Dorsey hailed the decision to let the tech mogul take the social media platform into private ownership and away from the ad model and Wall Street. He said it's "the right path."

“In principle, I don’t believe anyone should own or run Twitter,” he penned.

“It wants to be a public good at a protocol level, not a company.

“Solving for the problem of it being a company, however, Elon is the singular solution I trust. I trust his mission to extend the light of consciousness.”

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He agreed with Musk's aim to create a “maximally trusted and broadly inclusive” platform.

“I’m so happy Twitter will continue to serve the public conversation,” he said.

“Around the world and into the stars!”

Critics have since raised concerns regarding his stance as a “free speech absolutist”. There have also been speculations that he could relax Twitter's content moderation rules and allow the return of certain suspended accounts.

News of Musk's takeover soon spread to Twitter, and well, the internet did what it does best...




















Musk's offer came after buying a nine per cent stake in the company and joining its board. He then decided he wanted to "unlock the potential" of the platform and offered his takeover bid.

Twitter initially resisted and enacted an anti-takeover measure known as a "poison pill" to make it more difficult and expensive to acquire. The board later opted to negotiate after Musk updated his proposal.

Following the agreement, Musk described Twitter as “the digital town square” in a joint statement with the social media platform.

"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,” he said, adding that he wants to make Twitter "better than ever."

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