On this Monday, April 25, Twitter has confirmed it has reached an agreement with Elon Musk. As a result, the world’s richest man is basically purchasing Twitter for the whopping amount of over $44 billion. As expected and previously teased by Bloomberg, Twitter and Elon Musk have closed the deal. Elon Musk is basically paying the impressive amount of $54,20 for each of Twitter’s shares. Interestingly, the deal does not depend on other Musk’s properties. After the deal concludes, Twitter will become a private company, and Elon Musk will have absolute control over social media’s future.
Elon Musk now has Twitter under his control
To reach this impressive amount, Elon Musk had to raise his efforts. The billionaire ensured nearly $25,5 billion on loans and used $21 billion of its own capital. The two parts will probably close the deal later this year. For now, it needs the proper approval of the company’s shareholders and regulatory bodies. When it comes to the shareholders, worth noting that Elon Musk already stands as the company’s biggest stockholder with nine percent of the shares. To those unaware, Twitter was founded way back in 2006 and has more than 215 million monthly users.