the staff of the Ridgewood blog
Ridgewood NJ, Twitter’s board has accepted an offer from billionaire Elon Musk to buy the social media company and take it private, the company announced Monday. The stock closed up 5.64% for the day after it was halted for the news.
“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 included in the press release announcing the $44 billion deal. “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.”
Shark Tank investor Kevin O’Leary praised Tesla CEO Elon Musk’s bid for left-wing platform Twitter, ripping the company for censoring views and board members for being ineffective and in need of firing.
O’Leary told Andrew Sorkin, co-anchor CNBC’s Squawk Box, that Twitter “is the most miserable investment you could have put your dollars into in social media. It has totally lagged all its other competitors.”
Musk, though, would provide the weak-performing company a way out, the investor said.
The all cash deal at $54.20 per share valued around $44 billion. Twitter will become a private company once the deal is complete.
The announcement ends a weeks-long saga Musk kicked off when he disclosed a large stake in the company. Soon after, the company said he would join the board, only for Musk to reverse course on that plan several days later. Then, he offered to buy the company at $54.20 per share, his “best and final.”
The left is going nuts. All this hate for billionaires. However, no such hate when one of their own billionaires buys similar entities.
The left is going nuts.
They are anti-Free Speech …. It’s Settled Science.