Twitter reaches deal to sell to Elon Musk for about $44 billion

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Twitter reaches deal to sell to Elon Musk for about $44 billion
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Elon Musk has vowed to 'unlock' Twitter's potential by loosening what he sees as unfair restrictions on free speech. | via NPR

as they scrambled to figure out whether Musk was serious and whether his offer fairly valued the company.

The maverick entrepreneur is a prolific user and outspoken critic of Twitter, where he has more than 83 million followers and regularly posts memes, boosts his companies Tesla and SpaceX, and squabbles with critics. At a company-wide meeting on Monday afternoon, Twitter CEO Parag Agrawal told employees much about the future is up to Musk, according to a person who attended. Agrawal will remain CEO until the deal closes, but it's unclear what will happen after that point. Twitter is not currently planning layoffs, the CEO said. The company plans to bring in Musk to answer employees' many questions about what the deal means for them.

"A platform that moderated only illegal speech would quickly be overcome by spam and garbage," said Jameel Jaffer with the Knight First Amendment Institute at Columbia University."That kind of platform wouldn't work for anyone, whatever their political views."

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