The social media behemoth said on Monday that Tesla CEO Elon Musk, a billionaire, will buy the company for $44 billion. Twitter will become a privately held firm after the purchase is completed, which is likely this year.

Musk tweeted to his 84 million followers, "Free speech is the backbone of a functional democracy, and Twitter is the digital town square where things essential to humanity's future are debated." "I also want to make Twitter better than it has ever been by adding new features, opening up the algorithms to increase trust, combating spam bots, and authenticating all humans."

Twitter's stock jumped more than 5% in afternoon trade on Monday.In a post, Twitter CEO Parag Agrawal remarked, "Twitter has a purpose and significance that influences the entire world." "We are extremely proud of our teams and motivated by work that has never been more critical."

Musk tweeted to his 84 million followers, "Free speech is the backbone of a functional democracy, and Twitter is the digital town square where things essential to humanity's future are debated." "I also want to make Twitter better than it has ever been by adding new features, opening up the algorithms to increase trust, combating spam bots, and authenticating all humans."Twitter's stock jumped more than 5% in afternoon trade on Monday.

In a post, Twitter CEO Parag Agrawal remarked, "Twitter has a purpose and significance that influences the entire world." "We are extremely proud of our teams and motivated by work that has never been more critical."