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Elon Musk Purchases Twitter for $44 Billion

HeadlineApr 26, 2022

The world’s richest man, Elon Musk, is set to become the new owner of Twitter after the company’s board agreed to sell the influential social media platform for $44 billion. The deal is expected to close later this year pending regulatory approval. The watchdog group Media Matters criticized Musk’s takeover of Twitter, saying it will be a “victory for disinformation and the people who peddle it.” At the White House, Press Secretary Jen Psaki said President Biden was “concerned” about Musk’s takeover.

Press Secretary Jen Psaki: “No matter who owns or runs Twitter, the president has long been concerned about the power of large social media platforms, what they — the power they have over our everyday lives, has long argued that tech platforms must be held accountable for the harms they cause. He has been a strong supporter of fundamental reforms to achieve that goal, including reforms to Section 230, enacting antitrust reforms, requiring more transparency and more.”

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