IRON MAN 2 Actor Elon Musk Closes Deal To Purchase Twitter For $44 Billion
Yes, we did just use Elon Musk's cameo in Iron Man 2 as an excuse to cover his purchase of Twitter, but to be fair, this is pretty major news. Find out more after the jump...
Elon Musk surprised many earlier this month when he offered to buy Twitter on April 14. Now, it looks like the SpaceX founder and CEO's deal to purchase Twitter has been finalized.
Musk, who made a cameo appearance in Iron Man 2, is said to have spent a ridiculous $44 billion to secure the social media site, which boasts over 206 million monetizable daily active users worldwide.
"Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated," Musk said in a statement. "I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans. Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it."
The deal is still subject to the approval of Twitter stockholders, but is expected to officially close later this year. It's already been unanimously approved by the Board of Directors.
Twitter has become an invaluable tool for journalists, bloggers, and pretty much anyone who covers movie news online, so there's some apprehension surrounding this deal. It remains to be seen whether or not Musk implements any significant changes to the day-to-day operation of the site, but it seems likely.
What do you guys make of this news? If you're an active Twitter user, do you intend to remain on the site? Drop us a comment down below.