Elon Musk bought Twitter for $44 billion

English Apr 25, 2022

Elon Musk has made a $44 billion offer to buy one of the most popular social networks, Twitter, which was accepted today by the board of shareholders.

Twitter shareholders will receive $54.20 a share, up 38% from the closing price when Musk announced he had a 9% stake in the company.

The CEO of Tesla and SpaceX, nearly joined Twitter's board as the platform's largest single shareholder, but chose to keep his distance and try to take it private.

In an interview, Elon stated that while he wants the company to go private, he wants its code to be open sourced and put on GitHub. He further added that he wants to introduce an "edit" button for tweets and crack down on cryptocurrency scams and spambots.

Finally, the entrepreneur also suggested that the social network could accept DogeCoin as payment for the premium subscription service. News of the company's purchase sent Dogecoin skyrocketing, accumulating gains of around 20% to press time of $0.16.

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Morel Hernandes

Writer passionate about politics, economics, blockchain and crypto-currencies.