Elon Musk is one of those influential people who make the headlines very often. And recently he made the headlines because of Elon Musk’s New Deal with Twitter.
You must have heard about this announcement about him and his association with Twitter. And, the announcement was made on Monday, where the details of the transactions were also mentioned.
Elon Musk’s New Deal With Twitter
If you didn’t already know, Elon Musk purchased a share in Twitter not very long ago. Now, this raised a lot of questions about whether or not he will buy Twitter.
And this was confirmed on Monday after the news was revealed that Elon Musk bought Twitter. And he purchased this social media platform for a total of $44 billion.
Elon Musk’s Bid
Now, initially, Elon Musk’s bid was $54.20 per share. And, he also said that he wouldn’t change his bid.
Furthermore, he also said that he was willing to offer an all-cash deal for the amount he offered. And keeping in mind that, his total amount would sum up to $43 billion.
But, in the announcement made on Monday, the amount he offered was $44 billion. And this means that he purchased more shares at the same rate.
Moreover, there was no reduction in the rates he offered. Additionally, Elon Musk also revealed last week that he raised $25.5 billion of fully committed debts and margin loan financing from a few banks.
Furthermore, he did this to back his bid for Twitter’s shares. And after the deal is completed, Twitter will then be a fully private company.
Who Will Run Twitter?
Now, you might be thinking who will run Twitter now, right? Well, after this deal, Twitter will be fully owned by Musk only. But, CEO Parag Agarwal and Chairman Bret Taylor will be continuing in their posts.
Although, there will be minority shareholders as well. Furthermore, Goldman Sachs Group Inc. and JP Morgan Chase & Co were already the two advisors of Twitter.
Allen & Co. will also be joining this team to advise Musk from now on. Now, when talking about how will Musk run Twitter.
He did make a few statements during his speech. He revealed his idea about turning Twitter’s headquarters into a home shelter for the homeless. Additionally, he may also remove ads for paid users as well.
Now, on Thursday, Twitter will announce its latest earnings before the open market. This will give the people an insight into the working condition of the firm. But, this will be done at conferences.
Although, everything is not yet cleared some major information can be revealed very soon. So, in the coming time, many new announcements can be made regarding Elon Musk’s new deal with Twitter.