On Monday for $ 44 million cash deal the tech giant Elon musk secured the Twitter deal. 16-year-old world’s popular social media portal which holds the world influence was facing some challenges, finally secured by the 50-year-old Musk, a self-acclaimed free speech absolutist, is the executive chief of Tesla Inc and aerospace company SpaceX.Earlier twitter had started a bid expecting $54.20 but finally resolved in $44 billion.Holding 84 million follower assets on his side, Elon feels that this portal is quite influential for marketing as well as for maintenance of free public relations, which are major driving wheels for business these days.
Post bid exertion in a press statement
“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. 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 spambots, and authenticating all humans. Twitter has tremendous potential I look forward to working with the company and the community of users to unlock it,”.
Strong backing by Ex CEO Dorsey
Gaining whole hearted pushback by former CEO Dorsey and generating assurance on Parag Agrawal by aligning their common goal indicating trust and broad inclusion of the portal, Musk gets sound appreciative backing which also gets exciting response on social media.Unaware of the internal facts Musk intends to take the company private, meaning it will not be a publicly listed one Taking back from wall street.Most appreciated tweet on social media “Thank you both for getting the company out of an impossible situation. This is the right path…I believe it with all my heart,” is getting hilarious responses by fans.
Musk’s monetary arrangements for Twitter
Having worth of $ 268 according to Forbes finding cracking the deal in $44 billion, 50-year-old Musk has outlined the $13 billion in bank financing secured by the social-media company and the $12.5 billion backed by a pledge of some of his $170 billion Tesla Inc. stake. But he’s been short on details about how he’ll fund the remainder.There’s little doubt he can come up with the money. However, he has just about $3 billion in cash and somewhat liquid assets, according to Bloomberg estimates. Considering other options include approaching like-minded investors, selling his stakes in Tesla, or dipping into his unknown stash of crypto.
Take of Stakeholders on deal
"I think if the company were given enough time to transform, we would have made substantially more than what Musk is currently offering," said Jonathan Boyar, managing director at Boyar Value Group, which holds a stake in Twitter.
Possible Future of Twitter
Board members of twitter as a collative approval gave a green signal to this deal and guided shareholders as well in the same manner. Twitter does business for Us regulators where stakeholder plays a key role in that, and their considerable concerns would be minutely observed.