WASHINGTON: Billionaire Elon Musk has struck a deal to procure social networking site Twitter for $44 billion.
Musk, who made the shock bid less than two weeks ago, said Twitter had “tremendous potential” that he would unlock.
He also called for a series of changes from relaxing its content restrictions to eradicating fake accounts.
The firm initially rebuffed Musk’s bid, but it will now ask shareholders to vote to approve the deal.
“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,” Mr Musk said in a statement announcing the deal.
🚀💫♥️ Yesss!!! ♥️💫🚀 pic.twitter.com/0T9HzUHuh6
— Elon Musk (@elonmusk) April 25, 2022
Musk is the world’s richest person, according to Forbes magazine, with an estimated net worth of $273.6bn mostly due to his shareholding in electric vehicle maker Tesla which he runs. He also leads the aerospace firm SpaceX.
(With inputs from BBC)
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