Billionaire Elon Musk buys Twitter for $44 billion

Billionaire Elon Musk closes an application to buy Twitter for $ 44 billion – Photo: REUTERS

According to Reuters news agency, billionaire Elon Musk will pay $ 54.20 per share of Twitter, exactly as he originally offered. The transaction value is 44 billion USD.

The two sides met on April 24 after Twitter reviewed Musk’s offer to buy the company. Musk also made sure he had enough money to complete the contract.

Initially, Twitter did not want to sell the company and introduced a “poison pill” measure to prevent Mr. Musk’s acquisition of the company.

According to Reuters, after the acquisition, on April 25, Twitter CEO Parag Agrawal told employees that the future of the company is now uncertain. Mr. Elon Musk, the new owner of Twitter is expected to have a meeting to answer questions from employees at Twitter in the next few days.

Twitter says the deal will close at the end of 2022, pending other regulatory approvals.

During the transfer, Twitter’s shares will be delisted and converted to a private ownership model. Mr. Musk said this would give him full control over the changes he wanted to the company.

More than 2 weeks ago, billionaire Musk, proposed to buy Twitter and said he wanted to “unlock” the huge potential of Twitter.

Mr. Musk said he wants to make Twitter better than ever by bringing new features, making algorithms open-source to increase reliability, easing restrictions on content such as allowing posts. long, add the function to edit post after posting, delete virtual accounts, spam content…

Mr. Musk is the richest man in the world. According to Forbes magazine, he is worth about 273.6 billion USD. He is the CEO of electric car company Tesla and space company SpaceX.

Twitter shares closed with a 5% gain on April 25, but still below the $54.20 a share Musk offered to buy, according to the BBC.

The billionaire said he was not interested in the economic aspect of the deal.

The company Twitter was founded in 2004 and has 217 million daily users globally.

Billionaire Elon Musk collects money to buy Twitter

TTO – In a document sent to US regulators, billionaire Elon Musk said he has prepared $46.5 billion to buy the social network Twitter and is planning to start a public offer to buy shares from shareholders.