Elon Musk set to purchase Twitter for $44 billion

✔ Fact Checked by TDPel News Desk

By Pelumi Emmanuel

Published: April 25, 2022 | 7:22 PM GMT

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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About Pelumi Emmanuel

Pelumi Emmanuel is an accomplished writer and journalist with over 15 years of experience in the industry. He is a passionate and dedicated professional who is committed to producing high-quality content that informs, engages, and entertains readers. Pelumi’s love for reading and writing is evident in his work, which has been read worldwide and has garnered him a loyal following. His journalistic expertise is matched only by his natural talent for storytelling, making his articles both informative and engaging. He lives in California, USA.