Elon Musk reached a deal to buy Twitter for about $44 billion. New features:
“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,” Musk said in a press release announcing his purchase on Monday.
He went on to note that he intends to make some big changes. “I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans,” he explained. “Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it.
Musk bought nine percent of Twitter shares earlier this month and was offered a spot on the board of directors after becoming the company’s largest stakeholder. TheCEO initially accepted the spot, which was contingent on a background check, on the 11-person board on April 5. However, four days later, he turned down the spot on April 9. No reason was given for his rejection.
The position, which was to have had a term ending in 2024, would have required Musk to agree not to own more than 14.9 percent of Twitter’s stock or take over the company, according to a Securities and Exchange Commission filing,The soon-to-be Twitter owner is also a dad. He shares twin sons Xavier and Griffin, both 18, as well as triplets Kai, Saxon and Damian, who are 16, with ex-wife
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