Get All Access for $5/mo

Elon Musk Buys Twitter Elon Musk has bought 100 per cent stake in Twitter for approx $44 billion

By S Shanthi

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Anadolu Agency | Getty Images

In one of the biggest buyout deals, billionaire entrepreneur Elon Musk has bought 100 per cent stake in Twitter for approx $44 billion, all of it in cash. Investors will receive $54.2 for each Twitter share they own.

After acquiring the 16-year-old social networking platform, Musk tweeted praising free speech, saying that it is the bedrock of a functioning democracy.

"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," Elon Musk said in a statement.

"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," the Tesla CEO added.

Last month, Musk asked users on Twitter if he should launch a new social media platform since Twitter doesn't "adhere to right to free of speech". Responding to this, many users had said that he should instead buy Twitter. Musk also said that Twitter suppresses the right to free speech, which is believed to be the first thing he would solve as the owner of Twitter.

Elon Musk believes that Twitter has "tremendous potential", and he "looks forward to working with the company and the community of users to unlock it".

A few weeks ago, Elon Musk bought a 9.2 per cent stake in Twitter. This made him the second-biggest shareholder in the company. However, he declined to be a part of the company's board.

"Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important," said Twitter CEO Parag Agrawal.
S Shanthi

Former Senior Assistant Editor

Shanthi specializes in writing sector-specific trends, interviews and startup profiles. She has worked as a feature writer for over a decade in several print and digital media companies. 

 

Most Popular

See all
Starting a Business

Spend Less Time Worrying About Your Company's Runway — And More Time Rethinking Your Strategy. Here's How.

Perceived short runways leave founders in angst. It does not have to be this way; the best way to extend the runway is the right strategy.

By Adam Horlock
Business News

Disney World Concession Prices Have Gone Up 60% Over the Past Decade — Including Two Fan Favorite Sweet Treats That Have Skyrocketed in Price

A new report from Finance Buzz is shedding light on the price of treats in the park.

By Emily Rella
Social Media

The 5 Critical Components of a Great Customer Journey Map

From clear goals and actionable insights to an omnichannel view of the customer experience, how to fashion this pivotal business building block.

By Scott Baradell
Branding

Your Public Messaging Strategy Starts With Your Inner Circle

Entrepreneurs spend hours planning and developing key messaging strategies to broaden the reach of their business. Instead, start with an "inner circle" core of family, friends, colleagues, and most importantly an existing customer and vendor base.

By Adam Horlock
News and Trends

Work With AI: LinkedIn Debuts Suite of New AI Experiences

In a blog post, LinkedIn chief product officer Tomer Cohen shared how the company observed a remarkable trend of a 5x increase year-over-year in the number of learners engaging with Al courses and content on the platform

By Entrepreneur Staff
Growing a Business

Disrupt a Business-As-Usual Industry in 6 Steps

The most influential innovators all have one thing in common: disrupting traditional industry markets. However, only some are able to pull it off. Here are six steps all market disruptors must follow to succeed.

By Adam Horlock