It was a deal worth $44 billion-enough money to end Nigeria’s external debt and turn her economy around- and Twitter, one of the world’s largest and most influential social media platforms is sold to none other than the richest man in the world, Elon Musk.
Displaying the attributes that has fetched him the title of world’s richest man, the Tesla and SpaceX CEO pulled off the deal all in one month.
Under the terms of the deal, shareholders will receive $54.20 in cash for each share of Twitter stock they own, matching Musk’s original offer and marking a 38% premium over the stock price the day before Musk revealed his stake in the company.
Bret Taylor, Twitter’s Board chair said the deal was the best way forward for Twitter’s shareholders.
“The Twitter Board conducted a thoughtful and comprehensive process to assess Elon’s proposal with a deliberate focus on value, certainty, and financing.”
What does it mean to free speech
Musk did not become world richest man without some tough decisions and hard dealings. His takeover of Twitter would be first for profit.
Judging from the manner of his investments, one can expect some paywall on the social media platform when Musk finally takes over.
This may be the end of Twitter as we know it.
Analysts have also predicted that Musk would curtail free speech. Being a man not know to suffer critics, Musk may use his platform to manipulate free speech in such a way that messages that go against him may be impossible to tweet.
However, Musk himself has said he would work hard to protect free speech and unlock Twitter’s potential.
Musk: “I hope that even my worst critics remain on Twitter, because that is what free speech means.
“I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy.
“However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.”
Nigerians should also expect to see more of Tech obsession with the takeover while it may be more difficult to trend political or other related stories.
Already, many Americans have started moving to rival platform, Instagram owned by META, it remains to be seen how long this could go on and if Nigerians would follow the example.