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‘I did it to help humanity’: Elon Musk confirms he has bought Twitter for $44 Billion

This morning, the day before his court-ordered deadline to complete his $44 billion purchase of the social media network, Elon Musk sent a message to Twitter advertisers on his account.

Elon Musk, the wealthy CEO of Tesla, sent a comment on Twitter on Thursday in response to Twitter’s takeover. Musk said in his announcement that the reason he bought Twitter was so that the future of civilization might engage in polite discourse on a shared platform without resorting to violence.

Musk tweeted the whole of his remarks.

That’s why I purchased Twitter. Because it would be simple, I chose not to do it. I didn’t do it to become richer,” he said. I did it in an effort to support mankind, which I adore.

Elon Musk, the billionaire CEO of Tesla, has until October 28 to complete his $44 billion acquisition of the social media platform, according to Reuters. As a result, trading in Twitter Inc. shares will be banned on Friday, according to the website of the New York Stock Exchange.

Musk, the wealthiest man in the world, visited Twitter’s San Francisco offices on Wednesday and implied that he was the company’s top executive by changing his profile bio to “Chief Twit.”

Before the Wednesday closure of the $44 billion takeover transaction, he uploaded a video to the microblogging website showing him entering the Twitter offices holding a sink. With the title “Entering Twitter HQ – let that sink in!” he posted a video of his visit, attempting to let it sink in.

Elon Musk Twitter HQ sink
Elon Musk enters Twitter HQ with a sink in his hand

According to the news agency on Tuesday, Musk’s attorneys had sent the necessary documents for the finance pledge to equity investors Sequoia Capital, Binance, Qatar Investment Authority, and others.

The closing of the transaction would put an end to Twitter’s litigation. Twitter, together with the investors, now anticipates that the transaction will close at the agreed-upon price of $54.20 per share.

On Wednesday, the NYSE saw the company’s shares close at $53.35 per share. In extended trade, they were up roughly 1% at $53.90, just under Musk’s offer price.

The final debt financing deal has been put together and is now being signed by the banks that agreed to provide funding for Musk’s acquisition of Twitter.

During a Monday video conference call with bankers who are contributing to the deal’s funding, Musk promised to complete the transaction.

Reuter requested a statement from Twitter, but they rejected it. Musk’s legal counsel was unable to comment right away.

Employees at the microblogging network recently cautioned Musk that mass layoffs would be “reckless” after allegations surfaced that the Tesla CEO plans to “eliminate 75% of Twitter workers if he takes control.”

Twitter made an effort to allay employee worries about allegations that the CEO of Tesla was planning to lay off staff as part of his acquisition. It made it clear to staff that there haven’t been any plans for company-wide layoffs since the firm agreed to be owned by the tycoon.

With inputs from ABP Live & Tech Crunch

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Written by Alex Bruno

Freelance space writer Alex Bruno specializes in covering China's quickly expanding space industry. In 2021, he started writing for SpaceXMania. He also contributes to publications including SpaceNews, IEEE Spectrum, National Geographic, Sky & Telescope, and New Scientist. When Alex was a small child, he first experienced the space bug after seeing Voyager photographs of alien planets in our solar system. When not in space, Alex likes to go trail jogging in the Finnish countryside.

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