Elon Musk Officially Buys Twitter for $44 Billion

Well, this news is going viral. 

Elon Musk has formed a deal with Twitter to acquire the social media company for $54.20 per share, about $44 billion, the organization announced on April 25. The deal is expected to close this year. As a result, Twitter will become a privately held company.

“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” the Tesla CEO said in a press release. “I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans. Twitter has tremendous potential–I look forward to working with the company and the community of users to unlock it.”

The news comes less than two weeks after Musk offered to purchase Twitter for $54.20 per share. In a letter to Chairman of Twitter’s board Bret Taylor that was shared in an April 13 Security and Exchange Commission filing, Musk, who’d already owned 9.2 percent of Twitter stock, noted it was his “best and final” offer.