Elon Musk buys Twitter for $43.394 million

No one is going to be surprised by the fact that Elon Musk’s favorite social network is Twitter. The American tycoon has used it to make some of the most important announcements of Tesla or Space X. After taking over a part of the shareholding, Elon Musk has just officially announce the purchase of the entirety of Twitter for a sum of 43,394 million dollarsabout 40,504 million euros.

In recent weeks, one of the favorite topics of social networks has been the intention to buy Twitter by Elon Musk. The owner of Tesla, Neuralink, Space X and The Boring Company, among others, can now add one of the main social networks in the world. The purchase operation has not been easy at all, although the businessman has known how to play his cards very well after the acquisition of 9.1% of the shares at the beginning of this same month, which already meant making a disbursement of 2,890 million Dollars.

As Twitter’s largest single shareholder, Musk stepped down from a top leadership position, despite the big reforms he had in mind for the company. What few could guess is that Elon Musk would launch to buy the rest of the company, the 90.9% that he had left to own. At first, the directors of Twitter thought of blocking the takeover bid, although a sale price has finally been agreed upon that has satisfied both parties.

43,394 million dollars that the richest man in the world will have to pay in the coming days. Elon Musk He will pay a large part of that sum in hard cash, subtracting a part of his personal fortune, valued at more than 260,000 million dollars. The rest will be paid with debt obligations and financing from various banks such as Morgan Stanley and investment groups, an operation guaranteed with the shares that Musk retains from Tesla, 17% of a company that is currently valued at more than 1 billion dollars. Dollars.

Elon Musk will not only have to fight against the many detractors of Twitter, but also with negative numbers for several courses. Last year the social network announced losses of 221 million dollars, despite entering more than 5,000 million. In addition to returning to a positive balance, the South African businessman wants to make changes to the freedom of expression policy that Twitter has been employing in recent years and that has caused some discomfort among some users and communities, including Musk himself.

These were the statements of the now owner of Twitter after the purchase of the first package of shares: “I invested in Twitter because I believe in the potential to be the platform for freedom of expression around the world and I believe that freedom of expression is a social imperative for a functioning democracy. However, since making my investment I have realized I realize that the company will not thrive or serve this social imperative in its current form. Twitter needs to transform into a private company.”

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