Twitter $44bn sold to Elon Musk

Elon Musk secured an agreement to purchase Twitter for approximately $44 billion on Monday following a night of negotiations with the social media company’s 11 board members

The richest businessman in the world, Elon Musk, after many struggles, finally bought the social media company Twitter for 44 billion dollars.

Billionaire entrepreneur Elon Musk owns Twitter Inc. for 44 billion The sellers have agreed to use the largest leveraged shopping deals in history to take privately a 16-year-old social networking platform that has become a flashpoint of public discourse and controversy over online free speech.

Investors will receive $ 54.20 for each Twitter share they own, the company said in a statement Monday. The price is 38% higher than the stock close on April 1, the last trading day before Musk announced a significant stake in the company, giving rise to a stock rally. Twitter shares were suspended for this news.

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Musk, one of the strongest users of Twitter with more than 83 million followers, started collecting about 9% shares in January.

In March, after rejecting an invitation to join the company’s board, he offered to take Twitter personally on April 14, saying he would make the platform a base for freedom of speech and leave other hints about the changes he would make as owner.