Elon Musk Buys Twitter for 44 billion
April 26, 2022 / By Zunair Tahir / Tech News
The world’s most expensive business deal has been finalized, with Elon Musk, head of US company Tesla and private space company SpaceX, agreeing to buy microblogging site Twitter for about ً 44 billion.
According to the agreement, Elon Musk will pay 54.20 Dollar per share in cash to buy Twitter.
According to reports, Elon Musk has become the sole shareholder of Twitter after the agreement. This is by far the largest bargain to be made by any private company in the world.
According to the British news agency Reuters, Elon Musk and Twitter reached a 44 billion deal on Monday, after which control of the social media platform will now be transferred to the richest man in the world. Elon Musk had offered to pay 54.20 per share for the microblogging site, signaling his intention to buy Twitter.
Under pressure, Twitter later began negotiations with Elon Musk to sell the company at a proposed price of 54.20 Dollar per share, and the deal was finalized on Monday. According to reports, after this news, the shares of Twitter have increased by about 6%.