Twitter Accepts Elon Musk's $44 Billion Takeover Bid
In a remarkable turnaround, the board of Twitter has accepted Elon Musk's $44 billion bid to buy the social media company—roughly a week after rejecting the billionaire's buyout attempt.
Musk, the CEO of automobile maker Tesla and SpaceX, earlier this month announced he had a 9% share in the company and was set to join the Twitter board. He later backtracked, revealing his aspirations to buy Twitter outright and take the company private.
Musk has made several suggestions for how to improve Twitter, including eliminating most content moderation and potentially accepting Dogecoin as payment for its premium subscription service.
"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," Musk wrote in a press release today. "Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it."
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