Elon Musk strikes deal to buy Twitter for 44 billion dollars
Written by News Room on April 27, 2022
The world’s richest man, Elon Musk has struck a deal to buy Twitter for 44 billion dollars capping a saga complete with hostile takeover threats before delivering him personal control of one of the most influential social media platforms on the planet.
Twitter famously served as a megaphone for former US president Donald Trump before the platform banned him, and Musk — a self-proclaimed free-speech absolutist — has said he wants to reform what he sees as the platform’s over-zealous content moderation.
Twitter said the publicly traded firm will now become a private company owned by Musk, who negotiated a purchase price of 54.20 dollars per-share.
Musk last week lined up around 46.5 billion dollars in financing to make the purchase happen, and Dan Ives, an analyst at Wedbush Securities, predicted earlier in the day that since the board could not find another buyer, it would likely accept his offer.