Twitter Board on Monday agreed to world’s richest man Elon Musk takeover of the mico-blogging service for $44 billion.

The board had met earlier today to decide whether to allow Musk to takeover the Twitter after tabling $43 billion to take over the micro-blogging chip.

Twitter had initially rebuffed Musk’s bid, but it will now ask shareholders to vote to approve the deal.

BBC quoted Musk as saying that free speech is the bedrock of a functioning democracy, and that Twitter is the digital town square where matters vital to the future of humanity are debated.

He said he wants 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.

Musk added that Twitter has tremendous potential and that he looked forward to working with the company and the community of users to unlock it.

Born June 28, 1971, Musk is an entrepreneur, investor, and business magnate. He is the founder, CEO, and Chief Engineer at SpaceX; early-stage investor, CEO, and Product Architect of Tesla, Inc.; founder of The Boring Company; and co-founder of Neuralink and OpenAI.

With an estimated net worth of around US$273 billion as of April 2022, Musk is the wealthiest person in the world according to both the Bloomberg Billionaires Index and the Forbes real-time billionaires list