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A little less than 24 hours after the expiration of the term granted by a judge of a US Court to formalize the process of buying the social network Twitter, Elon Musk confirmed that he will finally become the owner of the company for “the future of the civilization”. With this new announcement, the uncertainty in the company’s stock market, which had reached historic lows in recent months, also ends.
Through the same social network that he intends to buy, the tycoon wrote that he wanted to reassure Twitter advertisers and explained the reasons why he is interested in buying the company. “It’s important to have a common digital plaza where a wide spectrum of beliefs can be debated in a healthy way,” he added.
The owner of Tesla and SpaceX has highlighted the importance of advertising, saying that if done in a good way, it could be of great benefit to users, as well as entertaining and informing.
“Twitter aspires to become the world’s most respected advertising platform that will strengthen your brands and grow your business. Let’s build something extraordinary together,” he said.
This Thursday after Musk’s message, shares of Twitter Inc. on the New York Stock Exchange rose 1.16%, placing the price of each share at $53.93 dollars. Since the magnate made public his intentions to buy the company, the shares have suffered from great volatility, registering the price per share at $34.06 in July, 65% less than now.
“Twitter must become a warm and welcoming place for everyone, where everyone can choose their desired experience according to their preferences,” he added.
However, the richest man in the world recognized that social networks can increase the polarization of public opinion between the extreme right and the extreme left, for which he assured that he hopes that Twitter does not become “a free hell for all”. .
Conclude an agreement and calm comes
This new announcement by Musk and his visit yesterday to Twitter’s headquarters in San Francisco, California, put an end to an agreement that would mean the closing of a lawsuit imposed by Twitter along with its investors against Musk, for initially announcing his buy and then withdraw, which meant the fall of the company’s shares.
With the fresh image and controversial actions that characterize him, the tycoon visited the company yesterday carrying a sink in his hands, to later announce that the purchase agreements had come to fruition.
The Delaware Court of Chancery had set a deadline of Friday, October 28 for the payment of $44,000. In addition, the New York Stock Exchange announced that the shares would leave the market that same day if an agreement between the two parties could not be reached.
For now, Musk is expected to reassure Twitter employees this Friday, after rumors of mass layoffs and even the termination of the company’s operations.
Last week, The Washington Post claimed that Musk had told his investors that he planned to lay off three-quarters of Twitter’s 7,500 workers, in addition to allowing homeless people to be housed in the San Francisco building.
With EFE, AP and local media
