Get All Access for $5/mo

Elon Musk Buys Twitter Elon Musk has bought 100 per cent stake in Twitter for approx $44 billion

By S Shanthi

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Anadolu Agency | Getty Images

In one of the biggest buyout deals, billionaire entrepreneur Elon Musk has bought 100 per cent stake in Twitter for approx $44 billion, all of it in cash. Investors will receive $54.2 for each Twitter share they own.

After acquiring the 16-year-old social networking platform, Musk tweeted praising free speech, saying that it is the bedrock of a functioning democracy.

"Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated," Elon Musk said in a statement.

"I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans," the Tesla CEO added.

Last month, Musk asked users on Twitter if he should launch a new social media platform since Twitter doesn't "adhere to right to free of speech". Responding to this, many users had said that he should instead buy Twitter. Musk also said that Twitter suppresses the right to free speech, which is believed to be the first thing he would solve as the owner of Twitter.

Elon Musk believes that Twitter has "tremendous potential", and he "looks forward to working with the company and the community of users to unlock it".

A few weeks ago, Elon Musk bought a 9.2 per cent stake in Twitter. This made him the second-biggest shareholder in the company. However, he declined to be a part of the company's board.

"Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important," said Twitter CEO Parag Agrawal.

S Shanthi

Former Senior Assistant Editor

Shanthi specializes in writing sector-specific trends, interviews and startup profiles. She has worked as a feature writer for over a decade in several print and digital media companies. 


News and Trends

Now 'Meta AI' Available For Indians On WhatsApp, Facebook, Messenger, and Instagram

First announced Meta AI at last year's Connect, the parent company unveiled Meta AI over two months ago and made it available in countries like Australia, Canada, and New Zealand


The Best Work-From-Home Jobs That Actually Pay Well in 2024

If you're tired of commuting to an office and want to work remotely, consider one of these high-quality, work-from-home jobs.

News and Trends

Amul's MD Jayan Mehta On The Growth of the Company And Its Global Expansion

Gujarat Cooperative Milk Marketing Federation, which sells dairy products under the Amul brand, recently introduced fresh milk in the US market as part of a partnership with the Michigan Milk Producers Association. Now, the organization wants to increase the range of items it offers

Business News

Apple Is Working on Making Its $3,499 Vision Pro More Affordable — and Mainstream. Here's How.

Apple's product is at least three times more expensive than Meta's version.

Growth Strategies

Balancing EV Growth with Fossil Fuel Dependency In India

The coal stocks at Thermal Power Plants remain robust, exceeding 45 million tonnes (MT) as on June 16, 2024, which is ~ 31.71 per cent higher compared to the same period last year when it was 34.25 MT.

News and Trends

AI PCs: Demand In India To 'Pick Up From 2025'

In India, the growth in artificial intelligence (AI) PCs will be driven by increased adoption by enterprise users, startups and IT organizations. The Microsoft Surface Copilot+ PCs will be launched in India very soon, said a top executive of Microsoft