The board of Twitter has agreed to a $44 billion takeover offer from Elon Musk.
Elon Musk, who shocked many people all over the world when he made an offer last week, said Twitter has tremendous potential that he wanted to unlock.
The company initially rejected his offer, but now they will ask their shareholders to vote on the deal, so it’s likely they will approve it.
According to Forbes magazine, Elon Musk is the world’s richest person.
His estimated net worth is $273.6bn, most of it because of his shares in the automotive company, Tesla, where he currently works.
He is also the head of the aerospace company, Space X.
“I want to make Twitter better than ever by improving the product with new features and making the algorithms open source to increase trust, defeat spam bots and authenticate all humans.” He stated this on Twitter.
This sale comes as politicians and regulators complain about Twitter and the type of content they want to see on the platform.
On Twitter, the chairman of the UK’s Digital, Culture, Media, and Sport Committee, MP Julian Knight, said the deal would be an “extraordinary development for the world of social media.”
“It will be interesting to see how a private-owned Twitter will handle global moves to regulate it.”
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