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Elon Musk sends first tweet after buying Twitter

Graeme Massie
·2-min read

Elon Musk has sent his first tweet after reaching an agreement to buy Twitter for around $44bn.

The company’s new owner posted the phrase “Yes!!!” surrounded by red hearts, shooting stars and rocket ship emojis, above his statement on 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 the company statement announcing the deal on Monday.

“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. Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it.

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Earlier the company had announced that it had accepted the Tesla CEO’s offer of $54.20 cash per share for the San Francisco-based platform, which will now be taken private.

“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 Parag Agrawal, Twitter’s CEO.

The board announced it had reached a deal with Mr Musk on Monday, and that it represented a 38 per cent premium from Twitter’s closing price on 1 April, the day before the world’s richest person made his move for the company by announcing his nine per cent stake.

“The Twitter Board conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing. The proposed transaction will deliver a substantial cash premium, and we believe it is the best path forward for Twitter’s stockholders,” said Bret Taylor, Twitter’s Independent Board Chair.

In a statement the company said that the deal had “been unanimously approved by the Twitter Board of Directors” and that it was expected to close in 2022, if approved by shareholders.