The board of the micro-blogging platform Twitter, has agreed to a $44bn (£34.5bn) takeover bid offer from billionaire Elon Musk.
Elon Musk made the shocking bid less than two weeks ago after deciding against joining the Twitter board.
The Tesla owner, will become the official owner of the social media platform once approved, taking over from Jack Dorsey, who already stepped down as the CEO.
Elon Musk Buys Twitter
Mr Musk, after his new bid described Twitter as a “tremendous potential” that he would unlock while calling for series of changes in its content restrictions to eradicating fake accounts.
According to Forbes magazine, Elon Musk, the world’s richest man, has an estimated net worth of $273.6bn due to his shareholding in electric vehicle maker Tesla and the aerospace firm SpaceX.
In a statement announcing his bid, Elon Musk tweeted, “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.
“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.”