Elon Musk Twitter takeover- buys twitter for $44 billion: The world’s richest person and the CEO of Tesla Elon Musk has bought Twitter for $ 44 billion (Rs 3.30 lakh crore) on Monday 25th April, 2022. The entire deal was done in cash. With this deal, the management of the Twitter, which came into existence 16 years ago, will go into the hands of Musk. President Joe Biden is concerned about the evolving power of the Internet media. There is no comment seen from the White House. After Elon Musk Twitter Takeover, it is suspected that former President Donald Trump account may get restored but at the same time, former president said that now even if Twitter restores his account, he will not return to this platform.
Elon Musk Twitter takeover – Buys twitter for $44 billion
A board meeting was held in this regard on Sunday morning, in which 11 members supported the proposal. Elon Musk presented his financial proposal to Twitter shareholders. Earlier, Elon Musk had said in a tweet, ‘I hope my worst critics stay on Twitter, because that’s what free speech means.’
Let us tell you that Musk had put a price of $ 4,300 million (Rs 3.22 lakh crore at current price) at a price of $ 54.20 per share and offered to pay in cash. He had said that for the kind of effective changes that are needed in Twitter, it must first go into private hands. Musk was in talks to buy Twitter in his personal capacity and Tesla was not involved in the deal. Twitter shares were up 4.5 percent at $51.15 in pre-market trading on the New York Stock Exchange on Monday. The New York Stock Exchange temporarily halted trading of Twitter shares before the deal was announced. Twitter’s share price increased by six percent when trading started again.
Elon Musk Twitter takeover
Let us tell you that when Musk offered to buy Twitter, the big question was raised whether he had the funds for it. At the same time reports came out that several private equity firms expressed their willingness to partner with Musk. In this context, he said in the US stock market information last week that Morgan Stanley and other banks have agreed to give him a loan of $ 13 billion. In addition, Musk will take a loan of $12.5 billion against his stock in Tesla. While it will buy the remaining stake in Twitter through a cash payment of $ 21 billion. Morgan Stanley has also invested in Musk’s electric car company Tesla.
Elon Musk already had a 9.2 percent stake in Twitter
Elon Musk already had a 9.2 percent stake in Twitter. He was also the largest shareholder of the company. However, a few days ago, asset management firm Vanguard Group surprised everyone by making public the information that it holds 10.3 percent stake in Twitter. However, this claim could not be confirmed so far.
Why did Elon buy Twitter?
Why did Elon Musk want to buy Twitter? Elon Musk said that he wants to promote free and open speech on the service, which he has said he sees as an important place for sharing viewpoints. During an interview shortly after announcing his bid, he expanded on some of his plans.
How much did Elon pay for Twitter?
How much did Elon pay for Twitter? Elon Musk paid $44 Billion USD in cash to takeover Twitter after the board of Twitter has agreed on the deal. Musk made the shock bid less than two weeks ago, said Twitter had “tremendous potential” that he would unlock.
Does Musk own Twitter now?
Twitter on Monday announced that it has accepted Elon Musk’s bid to takeover the social media company for $44 billion. Elon Musk will soon hold the keys to Twitter. Twitter announced on Monday that it has accepted the Tesla CEO’s $44 billion offer to take the company private.
Is Twitter accepting Elon Musk offer?
Twitter on Monday announced that it has accepted Elon Musk’s bid to takeover the social media company for $44 billion. Elon Musk will soon hold the keys to Twitter. He will pay the entire amount in cash.
Who is Elon Musk?
Elon Musk is arguably the most famous billionaire on earth. Richer than Jeff Bezos, Bill Gates and Mark Zuckerberg, Mr. Musk’s ownership of electric car company Tesla as well as space rocket and satellite communications firm SpaceX have given him a high profile over the last decade.
What happens to shares if Elon Musk buys 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 sold Twitter to Elon?
After Twitter announced that it has reached an agreement to sell the company to Elon Musk for around $44bn, the Twitter’s former chief and co-founder Jack Dorsey has called the billionaire’s takeover of the company the “singular solution” he trusts.
How did Elon finance Twitter deal?
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
What does Elon Musk own?
What companies does Elon Musk own? Musk has founded or co-founded several major companies. The list includes Tesla, SpaceX, OpenAI, Neuralink, the Boring Company and Starlink.
Is Twitter worth 44 million?
Elon Musk deal for Twitter is worth $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.
Why did Twitter sell to Musk?
Elon Musk said in an interview 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.
Who owns Facebook?
Facebook. “Mark Zuckerberg, Founder, Chairman and Chief Executive Officer.” Accessed Oct. 4, 2021
Who is Instagram owned by?
Meta Platforms, Inc., doing business as Meta and formerly known as Facebook, Inc., and The Facebook, Inc., owns Instagram. The company is the parent organization of Facebook, Instagram, and WhatsApp, among other subsidiaries.
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