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The $44 billion deal was concluded on Friday after a months-long spat between Musk and the Twitter Company, with the 51-year-old billionaire swiftly dismissing its CEO and other top executives as part of "reforms" he had already promised the internet and social media users, among them the "prioritization of free speech".
The purchase was, however, shrouded in controversy after Saudi Prince Alwaleed bin Talal said he and his Kingdom Holding Company had rolled over a combined $1.89 billion in existing Twitter shares, making them Twitter’s largest shareholder after Musk.
“The SpaceX founder relied on equity from other investors to carry out the deal. Alwaleed, a Saudi prince, and CEO of the Kingdom Holding company committed $1.89 billion—equating to nearly 35 million shares—in equity to help Musk purchase Twitter,” media reports underlined.
Musk's reliance on Saudi Arabia drew harsh criticism over Riyadh's stifling of free expression and human rights violations at home and aboard.
Saudi Crown Prince Mohammed bin Salman is accused of ordering the 2018 brutal murder of dissident journalist Jamal Khashoggi, who was a vocal critic of the Saudi royalty.
Khashoggi was dismembered with a bone saw during a visit to the Saudi consulate in the Turkish city of Istanbul.
Some critics raised eyebrows at the purchase and voiced concerns about the possibility of promoting hate speech online, highlighting what they viewed as a dangerous hypocrisy in allowing Saudi royalty so much ownership of Twitter.
#Twitter #Elon Musk About 2 years
This page is the English version of Almasirah Media Network website and it focuses on delivering all leading News and developments in Yemen, the Middle East and the world. In the eara of misinformation imposed by the main stream media in the Middle East and abroad, Almasirah Media Network strives towards promoting knowledge, principle values and justice, among all societies and cultures in the world
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