Giải trí

Elon Musk successfully bought Twitter outright for $44 billion-Information Technology

Tuesday, April 26, 2022 09:00 AM (GMT+7)

On April 25, billionaire Elon Musk has just successfully acquired Twitter with the previous offer price – 44 billion USD.

Last week, billionaire Elon Musk announced an attempt to buy Twitter outright and take the social network off the stock market. The initial move indicated that the company would reject the deal. However, now, Twitter has officially announced that it accepts Mr. Musk’s price.

Elon Musk successfully bought Twitter outright for $44 billion - 1

Billionaire Elon Musk has just successfully acquired Twitter.

According to Twitter’s press release, the company has “entered into an acquisition agreement by an entity wholly owned by Elon Musk”. Each share was purchased for $54.20.

Thus, the total value of the transaction is approximately 44 billion USD. Once completed (which could take months), Twitter will become a private company and will no longer trade its shares on any stock exchanges.

This is considered the original plan of Mr. Musk, all following the wishes of this billionaire. The price per share he is paying is 38% higher than Twitter’s share price in the last trading session.

Elon Musk successfully bought Twitter outright for $44 billion - 3

Twitter has a new owner.

When bidding to buy Twitter, Mr. Musk stated: “Freedom of speech is the foundation of a democracy, and Twitter is the square of the digital town where issues that matter to the future of humanity I also want to make Twitter better than ever by enhancing the product with new features, making algorithms open source for reliability, eliminating spam and authenticate all users. Twitter has huge potential – I look forward to working with the company and the user community to unlock them.”

Musk will use $25.5 billion in “margin loans” along with $21 billion of his own capital for the sale.

According to Forbes’ billionaire rankings, Mr. Musk has a net worth of about $269.5 billion and is the richest person in the world. Previously, this billionaire was holding 9.2% of Twitter shares with a total value of up to $ 2.9 billion at the closing trading price on April 1. He also has an account with 80 million followers on this social network.

You are reading the article Elon Musk successfully bought Twitter outright for $44 billion-Information Technology
at Blogtuan.info – Source: 24h.com.vn – Read the original article here

Back to top button