Tesla CEO Elon Musk reportedly plans to close his deal to purchase Twitter for $44 billion on Friday.
On Tuesday, Bloomberg News reported that Musk told bankers providing $13 billion in funding that the deal would close by the end of the week.
NewsBusters reported last week that Musk plans to lay off nearly 75% of the company’s employees to save money.
“'Although, obviously, myself and the other investors are obviously overpaying for Twitter right now, the long-term potential for Twitter in my view is an order of magnitude greater than its current value,'” Musk reportedly said at the time.
Musk previously said he wanted to buy the platform to promote free speech online after he criticized the company for censoring certain content.
“Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy,” he tweeted in March.
He claims his commitment to free speech is personal and says that “[f]ree speech is essential to a functioning democracy.”
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