Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen's correspondent: One was killed, another injured in a raid by an Israeli drone on the city of Khiam in South Lebanon
London views possibility of setting fire to tanker in port of friendly country to Russia to damage port infrastructure, initiate an international probe: Moscow
One of London's scenarios involves setting up accident with 'undesirable' tanker in one of the bottlenecks of maritime communications: Russian foreign intelligence agency
London plans to organize major sabotage with tankers to declare transportation of Russian oil to international shipping: Russian foreign intelligence agency
UK intelligence agencies plan to use NATO allies to launch massive raid on 'Shadow Fleet': Russian foreign intelligence agency
Palestinian Ministry of Health: Two were martyred in Israeli shelling that targeted a besieged house in the town of Qabatiya in Jenin
At least 68 dead in migrant shipwreck off Yemen: IOM
Trump: We want to feed the people in Gaza, we do not want them to starve.
US President Donald Trump: We will impose sanctions on Russia if it does not end the war on Ukraine.
Israeli media: Polls show that 52% oppose Prime Minister Benjamin Netanyahu while only 29% support him.

Twitter sells out to Elon Musk for $44 billion

  • By Al Mayadeen Net
  • Source: Agencies
  • 25 Apr 2022 22:32
3 Min Read

Twitter gave in to Elon Musk's bid to acquire the platform in light of ongoing talks for him to buy it, and he could be seen walking from the table with another corporation for just a fraction of his net worth.

  • x
  • Billionaire and Twitter's current largest shareholder, Elon Musk
    Billionaire and Twitter's current largest shareholder, Elon Musk

Twitter agreed Monday to be acquired for some $44 billion by Elon Musk, just weeks after the tech giant implemented a policy to prevent a hostile takeover by the billionaire.

The "poison pill" Twitter has proposed to use against Elon Musk's potential hostile takeover is a mechanism with a proven track record that could force the outspoken entrepreneur into negotiations.

The move taken by Twitter follows an offer filed by Musk to purchase 100% of Twitter for $54.20 per share, putting the company's value at $44 billion.

Musk would be paying the same amount he had offered now and would be personally responsible for around half of the financing, with the rest coming via loans from, or arranged by, investment banking company Morgan Stanley. However, it is still unclear whether Musk had managed to secure equity partners for his venture into social media.

When Musk acquires Twitter, it is unlikely that its current CEO, Parag Agrawal, will remain in his position, as the billionaire had previously criticized the company's policies and its current management. However, since Musk is the head of various companies, it is unlikely that he will personally run the platform.

"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," Musk said in a press release.

Related News

Netanyahu blamed for sabotaging Gaza captives deal, say their families

China’s mineral export ban disrupts US defense supply chain

He also claimed that he wanted to make Twitter "better than ever" by adding new features to the platform, such as making the algorithms open source to boost trust in the company, eliminating spam bots, and authenticating all human users of the platform, a step that is widely considered as a major violation of privacy.

The billionaire's bid was preceded by him hinting on Twitter that he might launch his own social media platform.

It all began with a poll on March 25 on whether or not they believed Twitter rigorously applied to free speech principles, adding that the consequences of the poll will be important and asking them to "vote carefully".

"The Board adopted the Rights Plan following an unsolicited, non-binding proposal to acquire Twitter," the company said in a press release.

Musk had held a TED Talk saying he had an alternative plan to take over the company if the tech giant refused his offer of a whopping $44 billion, though he also cast doubt on the possibility of him being able to perform such a stunt.

"Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy," he said. "What should be done?" 

The billionaire who fires workers for criticizing his company's work ethics also proclaimed himself a "free speech absolutist."

  • United States
  • TED talks
  • Elon Musk
  • Twitter
  • Big Tech

Most Read

An Israeli tank explodes following an ambush by al-Qassam Brigades in Gaza, Occupied Palestine, undated (Al-Qassam Military Media)

Al-Qassam strikes Israeli vehicles in Gaza, inflicts casualties

  • Politics
  • 30 Jul 2025
UAE lodges complaint against Israeli ambassador over 'misbehavior'

UAE lodges complaint against Israeli ambassador over 'misbehavior'

  • Politics
  • 1 Aug 2025
Protesters chant anti-Israeli slogans as they carry a banner that reads:" Freedom for Palestine, Alliance stop the war," during a demonstration in support of Palestinians in Gaza, outside the Israeli embassy, in Athens, Monday, June 9, 2025 (AP)

Athens mayor slams Israeli ambassador over Gaza war, graffiti claim

  • Politics
  • 3 Aug 2025
An explosion seen during an Iranian missile attack on Tel Aviv, Occupied Palestine, June 13, 2025 (AP)

If Iran is attacked again, geography of response may change: IRGC spox

  • Politics
  • 30 Jul 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Israeli soldiers drive on their armored personnel carrier back from inside the northern Gaza Strip, Tuesday, July 29, 2025. (AP)
Politics

Full occupation of Gaza on the table despite military's opposition

Israeli Prime Minister Benjamin Netanyahu speaks to the audience at a conference in occupied al-Quds, occupied Palestine, Sunday, July 27, 2025 (AP)
Politics

Netanyahu blamed for sabotaging Gaza captives deal, say their families

A mine operated by Serra Verde Mining in Minacu, Goias state, Brazil, Monday, July 28, 2025 (AP)
Politics

China’s mineral export ban disrupts US defense supply chain

ap
Politics

Aid allowed by 'Israel' covers only 14% of Gaza's needs: Media Office

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS