By Muneeb Naqeeb
On April 25th the Board of Twitter after a long battle for Twitter’s ownership agreed upon Elon Musk’s “Best and Final” offer of $54.20 per share. Elon Musk has to pay $44 Billion in cash to acquire Twitter, which is the 15th largest social media platform, according to Statista.
Musk responded to this news by stating, “Free speech is the bedrock of functioning democracy, and Twitter is a digital townsquare where matters vital to the future of humanity are debated.”
🚀💫♥️ Yesss!!! ♥️💫🚀 pic.twitter.com/0T9HzUHuh6
— Elon Musk (@elonmusk) April 25, 2022
Elon Musk’s purchase of Twitter has received support from Twitter former CEO Jack Dorsey, who tweeted” Elon’s goal of creating a platform that is ‘maximally trusted and broadly inclusive is the right one.”
I love Twitter. Twitter is the closest thing we have to a global consciousness.
— jack⚡️ (@jack) April 26, 2022
The current CEO of twitter Parag Agrawal however will get an estimated $42 million. if he is terminated within 12 months of a change in control at the social media company, according to research firm Equilar.
Agarwal was promoted to the position of CEO in November, he previously was Twitter’s Chief Technology Officer. Parag Agarwal in a meeting said that he does not know in which direction Twitter will go after this deal.
Musk Twitter’s new owner, is the world’s richest man with a net worth of 264 Billion Dollars and is also the Eighth most followed person on Twitter with 84.3 million followers.