Elon Musk Finally Buys Twitter for $44 billion

On Monday, 25 April, Twitter announced that it has agreed to the $44 billion takeover offer from the world’s richest man Elon Musk. Once the deal is implemented, it will become a privately owned company.

At the start of the year, Musk had no stake in the social media company. Beginning January, he quietly amassed shares to become Twitter’s largest shareholder.

Then, on 4 April, he put an offer on the table, which was actively rebuffed by Twitter’s board. Now, weeks later, the company has inked a “definitive agreement” to sell itself to Elon Musk.

The whole saga unfolded in a matter of three months.

Meanwhile, after Tesla Chief Elon Musk succeeded in his bid to take over Twitter, the former CEO of the microblogging site Jack Dorsey dropped a series of tweets, suggesting that he supports the move.

“In principle, I don’t believe anyone should own or run Twitter. It wants to be a public good at a protocol level, not a company. Solving for the problem of it being a company however, Elon is the singular solution I trust. I trust his mission to extend the light of consciousness,” Dorsey tweeted.