Want to know great news? What if Elon Musk buys Twitter? You are not surprised because you were already confident that this would happen. Elon Musk owning the entire company of Twitter is not trivial.
We already know how eager Elon Musk was to buy Twitter and mold it as he wanted to. However, he has finally made his deal. For the last few weeks, it had been anticipated that Elon Musk was going to own Twitter, and here we are. He bought Twitter.
Do you want to know more about when Elon musk bought Twitter and how much he paid for it? Then you will get all the information here. Go ahead and know about everything related to the Elon Musk Twitter deal.
Twitter Sold To Elon Musk
Yes, you read that right; Elon Musk buys Twitter. After resisting for some time and making strategies to prevent Elon Musk from being the owner of Twitter wholly and solely, Twitter finally landed on the decision of surrendering to Elon Musk as there was probably no escape.
What Is The Twitter Elon Musk Deal?
How much did Elon Musk buy Twitter for? What was Elon Musk Twitter offer? Well, the deal has finally been locked at about $44 billion. Elon Musk buys Twitter for $44 billion as per the worth of Twitter at present with the amount of $54.20 per share.
When Did Elon Musk Buy Twitter?
Elon Musk purchased 9.2% of Twitter’s shares on April 4, 2022, which already made him the highest shareholder of Twitter among all the others.
However, he was not satisfied and offered a bid to Twitter for $44 billion on April 14, 2022. Twitter showed disinterest initially, but, lastly, on 25 April 2022, Twitter accepted Elon Musk’s offer and allowed him to buy Twitter for $44 billion.
Elon Musk is the only owner of Twitter after he purchased the company for $44 billion. You must be thinking about who owned Twitter before Elon Musk snatched the Twitter deal. Let us tell you that Twitter was a public company which means there was not any single owner of Twitter but all the collective shareholders who had invested in Twitter.
Yes, there were numerous shareholders of Twitter, some active and some passive. The passive shareholders only invested a certain amount in the company’s stocks. In contrast, the active shareholders invested in the company and could actively participate in the decisions of Twitter.
As Elon Musk has taken over all the company’s stocks, he alone now owns Twitter. He can now independently bring about changes in the company, in Twitter’s platform for the users to gain a better experience of Twitter. Well, it is thus in the best-vested interests of the company that Elon Musk buys Twitter.
Why Did Elon Musk Buy Twitter?
When Elon Musk was offering Twitter the deal to buy the company, many people wondered why Elon Musk wanted to buy Twitter. Do you want to know why did Elon Musk want to buy Twitter? Then you will find out here.
Elon Musk had already shown his discontent with the platform’s policies, and he sometimes criticized Twitter in his tweets. He indicated that Twitter is not letting users have the right to free, unacceptable speech.
You might be getting an idea of “why does Elon Musk want Twitter so badly?”. Elon Musk wants to transform Twitter. As he said, Twitter has great potential, and Elon Musk wants to bring it out.
You all witnessed how Elon Musk tweeted about the need for an edit button on Twitter moments later, and he purchased 9.2% shares of the company. This had already revealed his intentions of improvising the platform as he wanted to.
Is Twitter Going Private?
Yes, as Elon Musk buys Twitter, it becomes a private company. All Twitter shares will belong to Elon Musk alone. Nobody can buy Twitter shares like before.
What Happens To My Twitter Stock?
Have you invested an amount of money in Twitter’s stocks? What will happen to your Twitter stocks? You will be paid per the value of the Twitter stocks you bought.
For every share of Twitter, you and all the other shareholders of Twitter will receive an amount of $54.20. Since Twitter is now a private company after Elon Musk buys it completely, you won’t be able to keep your Twitter stocks.
Now you know, “why is Elon Musk buying Twitter?” Elon Musk has taken up the huge step of owning a whole company. It is expected that the changes he will bring to Twitter’s platform will be acceptable to all Twitter users and satisfactory. Tell us in the comments section below about what you think of Elon Musk buying Twitter. Also, share this huge piece of news with your friends.