Tesla CEO Elon Musk Is Set To Acquire Twitter for $44 Billion

The CEO of Tesla and SpaceX, Elon Musk, is reported to acquire the rights of the popular social media platform, Twitter, for a whopping amount of 44 billion dollars. He was also the largest shareholder of the company. However, on April 4, Musk backed out at the last moment from an agreement to join Twitter's board of directors and made a declaration of buying the company instead.

The authorities of Twitter have mentioned that Musk secured 25.5 billion dollars of debt and margin loan financing and is providing a 21 billion dollar equity commitment for Twitter.

Twitter, which has an estimated 83 million users worldwide, is mostly used by politicians, world leaders, celebrities, and journalists. It mainly dominates the political discourse and shapes the news accordingly. However, after the ownership, Musk has attempted to crowdsource opinions on Twitter features, asking his followers to weigh in on whether they want certain changes like an edit button. The billionaire, who calls himself an avid free speech absolutist has always criticized what he sees as excessive moderation on online platforms.

Now that Musk's on board, he will surely loosen the rules of engagement on Twitter. In fact, many Twitter users are already fearing that Musk would give license to harassers, trolls, and others who abuse the platform to target people.

However, one of the biggest questions being discussed all over the Internet is who Musk will appoint as the new CEO. Currently, CEO Parag Agrawal is leading the company. Previously, the CEO of Facebook, Mark Zuckerberg also tried to buy the company but was unsuccessful to do so.