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Elon Musk buys Twitter for $44 billion

Tesla CEO Elon MuskIn recent weeks, he expressed a desire to acquire the social network Twitter, but the latter refused the offer or simply tried to fill its price. As it became known, on April 26, the parties still managed to reach an agreement on the transfer of rights for a “modest” $44,000,000,000.

According to the application filed by the businessman to the Commissionhe uses $21 billion of his own funds to buy Twitter at $54.20 per share — the remainder is a loan secured by Tesla shares. Previously, Musk refused a seat on the board of directors of the social network, since such a position did not allow him to have more than 14.9% of the company's shares. The billionaire has already told the press about the upcoming changes to Twitter. In particular, he intends to make the source code of the service open, add the function of editing publications and lower the bar for censorship and moderation on the site. He also announced his intention to introduce a mandatory user authentication function to combat bots.

“I hope that even my worst critics will stay on Twitter, because this is freedom of speech,” the entrepreneur wrote on his blog.

Previously, Twitter management announced the intentionto refuse the entrepreneur a deal to buy out the company, but later changed his mind. The closing date of the deal and the timing of the appearance of the innovations promised by Musk have not yet been announced. The latest list is also rumored to include the removal of ads from the Twitter Blue premium feature to subscribers and the ability to pay for it with Dogecoin.