Reportedly, Twitter is close to a deal to sell the company to billionaire and Tesla founder Elon Musk for an unheard amount of $43 Billion.
According to media reports, Twitter could announce details of the deal soon. The deal would be worth around $43 billion in cash.
On Monday, Twitter’s share rose 4.8% in premarket trading. Musk had said last week that he lined up $46.5 billion in finance to purchase Twitter and had been negotiating with the company.
Elon Musk is a self-described “free speech absolutist” and has been critical of Twitter’s policies for a long time now.
Musk, in a regulatory filing, said that he planned to acquire Twitter as he believed it has potential to be a platform for free speech around the world, and he believes free speech is a societal imperative for a functioning democracy.
He added that Twitter needs to be transformed into a private company.
Here are the expected changes Mr. Musk is expected to push on Twitter:
– The Edit Button
– Opening Up Twitter’s Algorithm
– Tackling Crypto Currency Scams
– Free Speech