Twitter set to be purchased by Tesla billionaire Elon Musk

By Anna Macdonald

April 26, 2022

Elon Musk
SpaceX is the creation of Elon Musk. (Yichuan Cao/Sipa USA via AP)

Tesla CEO and outspoken personality Elon Musk is set to buy social media platform Twitter, for US$54.20 (AUD $75.46) a share.

In a media release from Twitter, the billionaire touted the importance of free speech on the platform.

“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,” said Musk. 

“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 spambots, and authenticating all humans. Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it.”

Musk, who is a prolific user on the website, with 84.1 million followers, has, in the past, suggested features for Twitter, including the ability to edit tweets after they are posted and to be able to post longer tweets.

“Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important,” Twitter CEO Parag Agrawal said in the same statement.

Agrawal became CEO after Twitter founder Jack Dorsey departed the company in November 2021 to become a full-time CEO at digital payments company Block, Inc. 

Twitter has been a prominent area of debate during the election, with data from Twitter indicating 63% of young people’s votes would be swayed by political canditates’ online actions


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