Twitter Inc. has agreed to be acquired by billionaire Elon Musk, CEO of Austin-based automaker Tesla, in a deal worth about $44 billion, the social media platform said Monday.
Twitter stockholders will receive $54.20 per share of common stock that they own upon closing of the deal. The purchase price is a 38% premium to Twitter’s closing stock price on April 1, which was the last trading day before Musk disclosed his 9% stake in Twitter.
It is official. Elon Musk has finally bought 100 per cent stake in Twitter for approx $44 billion, around $54.20 per share, and all of it in cash. The microblogging site has been evaluating Musk’s offer for the past several weeks. Musk previously said that Twitter has “extraordinary potential” and he wants to unlock it all.
Elon Musk struck a deal on Monday to buy Twitter for roughly $44 billion, in a victory by the world’s richest man to take over the influential social network frequented by world leaders, celebrities and cultural trendsetters.
How much did Twitter sell for?
$44 billion One is that $44 billion is indeed a good price for Twitter. It is significantly more than around $28 billion that Microsoft paid for LinkedIn, and LinkedIn had a viable business model. It is also much much more than what Facebook paid for Instagram or WhatsApp.
Twitter Deal FaQs
How much did Twitter sell for?
$44 billion One is that $44 billion is indeed a good price for Twitter. It is significantly more than around $28 billion that Microsoft paid for LinkedIn, and LinkedIn had a viable business model. It is also much much more than what Facebook paid for Instagram or WhatsApp.
How much did Elon buy Twitter?
$44bn The board of Twitter has agreed to a $44bn (£34.5bn) takeover offer from the billionaire Elon Musk.
Why did Twitter sell to Elon Musk?
Musk said at a conference that he made the offer to buy Twitter because it had “become kind of the de facto town square, so it is just really important that people have the reality and the perception that they are able to speak freely within the bounds of the law.” He added: “This is not a way to make money.
How did Elon Musk finance Twitter?
Musk will pay for Twitter using $25.5 billion in debt and margin loan financing along with $21 billion in equity commitments. Shortly before the stock was halted, investors were still pricing Twitter roughly $4, or 7%, below Musk's bid price. Apparently, they weren't sure what to do.
Has Twitter sold to Elon Musk?
Musk's deal for Twitter is worth about $44 billion. Elon Musk struck a deal on Monday to buy Twitter for roughly $44 billion, in a victory by the world's richest man to take over the influential social network frequented by world leaders, celebrities and cultural trendsetters.
What did Elon Musk buy?
Twitter Twitter on Monday announced it has accepted billionaire Elon Musk's bid to takeover the social media company for $44 billion. Elon Musk will soon hold the keys to Twitter. The company announced on Monday that it has accepted the Tesla CEO's $44 billion offer to take the company private.
Is Tesla buying Twitter?
It's official: Elon Musk is set to buy Twitter. The social media giant confirmed Monday the Tesla CEO and billionaire will acquire the company in a deal worth $44 billion. Once the deal is complete, which is expected by this year, Twitter will become a privately held company.
Did Twitter get sold?
Twitter reaches deal to sell to Elon Musk for about $44 billion : NPR. Twitter reaches deal to sell to Elon Musk for about $44 billion The sale caps a dizzying saga for Twitter and Elon Musk, the world's richest man and a prolific user of the social media platform.
Why did Tesla buy Twitter?
Why did Elon Musk want to buy Twitter? Musk has said he wants to promote free and open speech on the service, which he has said he sees as an essential place for sharing viewpoints. During a TED interview shortly after announcing his bid, he expanded on some of his plans
What has Musk said about Twitter?
Musk once called spam bots "the single most annoying problem" on Twitter. He tweeted in April 2022: "If our twitter bid succeeds, we will defeat the spam bots or die trying!" He wrote in a reply to that tweet that Twitter would "authenticate all real humans" under his ownership
What does Elon Musk buying Twitter mean for shareholders?
Elon Musk calls for 'free speech' on Twitter Under the terms of the deal, shareholders will receive $54.20 in cash for each share of Twitter stock they own, matching Musk's original offer and marking a 38% premium over the stock price the day before Musk revealed his stake in the company.
Who owns Twitter?
Elon Musk
Who is funding Twitter buyout?
Morgan Stanley as 'best resource'
Is Twitter worth more than Facebook?
And it's why Google is worth $1.7 trillion, Facebook $583 billion, and Twitter $36 billion.
Is Twitter part of Facebook?
No
Who sold Twitter?
Elon Musk
Who is CEO of Twitter?
Parag Agrawal (29 Nov 2021–) Twitter / CEO Image of Who is CEO of Twitter? Parag Agrawal is an Indian-American software engineer who is the chief executive officer of Twitter.
Who is Twitter father?
Founder(s) Jack Dorsey Noah Glass Biz Stone Evan Williams Key people Bret Taylor (Chair) Parag Agrawal (CEO) Ned Segal (CFO)
Why is Twitter so popular?
Twitter provides breaking news
What is Twitter's bird name?
Larry T Bird
Is Tesla buying Twitter?
It's official: Elon Musk is set to buy Twitter. The social media giant confirmed Monday the Tesla CEO and billionaire will acquire the company in a deal worth $44 billion. Once the deal is complete, which is expected by this year, Twitter will become a privately held company.