Musk agreed to buy Twitter (TWTR.N) for $44 billion in cash on Monday, transferring control of the social media site populated by millions of users and global leaders to the world’s richest person.
The 16-year-old company that became one of the world’s most influential public squares now faces a series of challenges.
Last week, discussions over the deal appeared uncertain, but they accelerated over the weekend after Musk wooed Twitter shareholders with details of his financing plan.
Twitter’s shares were up about 6% following the news.
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“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.
In a tweet today, Elon Musk defended freedom of expression for everyone.