Elon Musk reaches deal to buy Twitter for $44 billion

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Elon Musk, the world's richest man, struck a deal Monday to buy Twitter for $44 billion, capping a saga complete with hostile takeover threats before

, capping a saga complete with hostile takeover threats before delivering him personal control of one of the most influential social media platforms on the planet. president Donald Trump before the platform banned him, and Musk -- a self-proclaimed"free-speech absolutist" -- has said he wants to reform what he sees as the platform's over-zealous content moderation.

At the White House, Press Secretary Jen Psaki said"no matter who owns or runs Twitter," President Joe Biden -- himself a Twitter user -- is"concerned about the power of large social media platforms."Musk bought a nine-percent stake in Twitter earlier in April, then offered to buy the whole company outright, citing a mission of preserving free speech.

The publicly traded firm will now become a private company owned by Musk, who negotiated a purchase price of $54.20 per-share, Twitter said. In an interview with Fox News, Trump said"I am not going on Twitter," preferring instead to stay on his"Truth Social" media network. "This is not the street corner," Garrett-Wagner said."This is the proverbial Wild West but owned by a minority elite that doesn't represent minority voices."Musk's promised hands-off approach to content is a particularly thorny matter when it comes to high-profile cases like that of formerpresident Donald Trump, who was banned from Twitter after an assault on the Capitol by his supporters.

"It is also critical that Google and Apple hold Twitter to the same standards they applied to other apps like Parler," he added, referring to a social network popular among conservatives.

 

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