On Monday, Elon Musk agreed to buy Twitter for $44 billion, transferring ownership of the social media network used by millions of people and world leaders to the world’s richest person.
Twitter accepts buyout, giving Elon Musk total control of the company https://t.co/oPwAgAAs6S pic.twitter.com/rU9V49QMva
— The Verge (@verge) April 25, 2022
The deal’s discussions quickened over the weekend when Musk wooed Twitter shareholders with financial details of his bid, which appeared doubtful last week.
Twitter began negotiations with Musk to buy the firm at the proposed $54.20 per share price under duress.
Since its first public offering in 2013, Twitter has been a publicly traded company.
In a statement, Musk added, “Free speech is the core of a functional democracy, and Twitter is the digital town square where subjects crucial to humanity’s future are debated.”
Following the news, Twitter’s stock rose by around 6%.
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