Elon Musk

Musk has said that he wanted to own and privatise the social media giant because he believes it is not living up to its potential as a free speech platform.

Under the terms of the deal, Twitter will become a private company and shareholders will receive $54.20 per share, the company said in a news release. The deal is expected to close this year.

Jack Dorsey said that billionaire Elon Musk is the singular solution to the problem of Twitter being a company.

Many Twitter users are hopeful that Elon Musk would indeed deliver the 'free speech' platform as promised. Some are returning to the platform just because the billionaire bought it.

The announcement by Twitter's Board of Directors unanimously approving Elon Musk's offer capped weeks of speculations over the fate of the platform ever since the billionaire revealed that he had picked up a 9.2 per cent stake.

Twitter will become a privately held company upon completion of the transaction.

Twitter Inc began talks with Elon Musk on Sunday after wooing several of the social media company's shareholders with financial specifics on his $43 billion buyout bid, Reuters reported earlier on Sunday, citing sources.

"The service will be provided at no cost to all JSX clients and will not need logging in or other complications associated with traditional systems," a JSX official said in an emailed statement.

The Tesla Model Y has a 'Smart Summon' feature that enables the driver to call the car and come near them autonomously by pressing the button through their mobile.

Elon Musk is planning on owning Twitter for $41 billion. However, Manchester United fans want him to purchase the club for that amount.