Elon Musk, the world’s richest man, became the new owner of the company after a deal was finalized to sell the microblogging site Twitter.
According to the Wall Street Journal, the Twitter administration has confirmed that it has accepted Elon Musk’s offer of a large sum of money, after which Twitter will become the property of Elon Musk after some documentary proceedings.
In this regard, Reuters reported that Twitter administrators have confirmed their willingness to make a deal with Elon Musk, after which the world’s billionaire American will now become the sole owner of Twitter.
Under the agreement, all of Twitter’s shareholders, including its founder and co-founder, will receive a total of $44 billion, or more than Rs 82 trillion at present.
Under the purchase agreement, each shareholder will receive $54 per share, or PKR 4,200.
Following the acquisition of Twitter by Elon Musk, Twitter will no longer be a public company and will be a sole proprietorship company and will have the power to make most of its decisions.
Elon Musk initially offered $44 billion to buy Twitter two weeks ago, which was initially opposed by its board of directors and shareholders, including the founder and co-founder of the microblogging website.
However, all shareholders and owners later agreed to Elon Musk’s offer, and now that the final documents have been signed between Elon Musk and Twitter, Twitter will become Elon Musk’s property.
Elon Musk’s $44 billion deal to buy Twitter is being hailed as the biggest deal in the technology industry to date, as no internet technology company or application has made such a significant amount of money in the last two decades.
After the deal was confirmed by the Twitter administration, Elon Musk expressed his hope in his tweets that he believed that his rivals would also be present on Twitter because the purpose of the censorship-free platform is to have everyone there.
Elon Musk also tweeted a screenshot of the broadcaster’s talk of censorship of Twitter.
After Elon Musk was bought by Twitter, hashtags with his name also came to the top on Twitter and people shared various memes.