Tesla chief and multi-billionaire Elon Musk is taking over Twitter for USD 54.20 a share. The deal between Musk and Twitter means that the social media giant will be taken off the public market and instead become one of the world’s most valuable privately-owned companies, with a valuation of USD 44bn.
Musk has promised several major changes for the platform, including a greater emphasis on free speech, making Twitter’s algorithm open source, and potentially incorporating some form of payments, which may also include support for dogecoin (DOGE) or other cryptoassets.
“This is the right path...I believe it with all my heart,” Dorsey said, adding: “I’m so happy Twitter will continue to serve the public conversation,” said Twitter's ex-CEO and bitcoin advocate Jack Dorsey.
With the deal now done, the market is already speculating on what the next step may be for the company.
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