Question
Recently Elon Musk signed an agreement to buy Twitter
for roughly what amount?Solution
● Elon Musk signed an agreement to buy Twitter for roughly $44 billion (Rs. 3,365 crore). ●Of the $44 billion, Elon Musk has outlined the $13 billion in bank financing secured by the social-media company and the $12.5 billion backed by a pledge of some of his $170 billion Tesla Inc. stake. ●Musk is the world’s richest person, with a fortune of $257 billion, according to the Bloomberg Billionaires Index. ●Elon Musk said, “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”. ●The deal is expected to close sometime this year. But before that, shareholders still have to weigh in, as well as regulators in the US and in countries where Twitter does business, before the deal is completed. ●Twitter CEO Parag Agrawal told employees that the future of the social media firm is uncertain after the deal to be taken private under Elon Musk closes. ●Parag Agrawal would get an estimated $42 million if he were terminated within 12 months of a change in control at the social media company.
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