ELON Musk is set to buy Twitter for a whopping $44 billion (R690 billion).
Yes, you read that right.
Musk (50) has been making headlines for the past two days after he made his intentions clear that he wanted to purchase one of the biggest social media giants in the world.
The news of the Twitter sale broke the news on Monday evening, leaving the whole world shocked as many thought the sale was going to be frozen.
On Monday, 25 April, the company said Twitter stockholders would receive $54,20 (about R850) in cash for each share of Twitter common stock that they own once the transaction is completed to make it a privately-owned company.
In a statement, Bret Taylor, Twitter’s independent board chair said they conducted a thoughtful process to Musk’s proposal with the focus being on value, certainty, and financing.
“The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter’s stockholders,” Taylor said.
Musk emphasised that he wanted to buy Twitter to ensure the free speech of a functioning democracy in the digital space.
If you are still wondering who is the person behind the purchase of Twitter, take a look at some of the most interesting facts about Musk:
- He is the richest man in the world with a mouth-watering net worth of $266,4 billion.
- Musk was born on 28 June 1971 in Pretoria, South Africa and currently resides in the USA.
- At the age of 12, Musk created and sold a video game to a magazine for $500 (about R7800).
- In 2002, Musk founded SpaceX, which manufactures and launches the world’s most advanced rockets and spacecraft
- Musk is the CEO of Tesla, a multi-billion company which is famous for designing and manufacturing electric cars.
- According to scrolldroll.com, in 2013 Musk almost sold Tesla to Google for $11 billion.