SAN FRANCISCO, Calif. — With Elon Musk, the founder of SpaceX, putting together a $46.5 billion acquisition proposal for Twitter, the social media giant’s stock has soared in anticipation of the deal.
People familiar with the situation told a publication that the social media platform is in advanced talks to strike a contract with Elon Musk, active on social media. Representatives from Twitter and Elon Musk, on the other hand, remained silent on the subject.
According to sources, the much-anticipated deal will be disclosed after the market closes on Monday, if not sooner.
Officials from Twitter met with Tesla’s co-founder over the weekend to discuss discussions after the latter made a $43 billion offer.
Following a series of conversations, Twitter, which handles an average of 1.6 billion search queries every day, first turned down Musk’s request.
Tensions were high as platform users, including major global corporations and leaders, consider what the service may look like under the watchful eye of the world’s wealthiest person.
Musk will mold the social media behemoth into his ‘free speech absolutist’ agenda. According to sources, in a recent letter to the board, he stated that Twitter is the global platform for free speech but cannot meet this societal necessity in its current form and must be turned into a private company.
Workers were shocked by the new development since Musk sought to reorganize the company. Twitter’s management even convened an emergency meeting to go over the situation in detail.
Musk, regarded as one of the most successful internet entrepreneurs, was able to arrange money for the huge purchase after acquiring almost 9% of the social platform, making him the largest shareholder.