Elon Musk seals deal to buy Twitter for $44 billion, says 'want to make it better than ever'
FirstpostIn a statement on Monday, Elon Musk said, ‘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’ New York: Elon Musk, the world’s richest man struck a deal Monday to buy Twitter for $44 billion, capping a saga complete with hostile takeover threats before delivering him personal control of one of the most influential social media platforms on the planet. “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 released by Twitter. Protecting our democracy is of utmost importance.” At the White House, Press Secretary Jen Psaki said “no matter who owns or runs Twitter,” President Joe Biden – himself a Twitter user – is “concerned about the power of large social media platforms.” Twitter stock closed 5.6 per cent higher in New York trading. Under Agrawal, who took over as Twitter CEO late last year, the company has made progress on new monetization features such as subscription products, Truist securities said in a note, adding that “short term, Musk’s involvement at this stage runs the risk of disrupting those efforts.” Progressive groups were particularly concerned that Musk may permit a return to the platform by Trump, who was banned from Twitter after last year’s assault on the US Capitol by his supporters seeking to overturn the 2020 presidential election result.