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JUST IN: Elon Musk buys Twitter for $44bn

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Musk

Twitter announced on Monday that it is selling the platform for $44 billion to billionaire entrepreneur Elon Musk.

The sale marked a significant change for the board, which had previously attempted to prevent Musk from turning the social networking platform private.

Musk said in a speech announcing the takeover, "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 Mr. 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 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."
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