Twitter has officially been bought by billionaire Elon Musk. On April 25, it was announced that the entrepreneur purchased the social media app for a figure close to $44 billion.
More details about the buyout can be read below.
Elon Musk purchased Twitter for $44 billion
On April 25, it was publicized that Musk bought Twitter after the board of the social media platform accepted the billionaire’s offer.
According to NBC, Twitter released a statement saying:
“Twitter, Inc. (NYSE: TWTR) today announced that it has entered into a definitive agreement to be acquired by an entity wholly owned by Elon Musk, for $54.20 per share in cash in a transaction valued at approximately $44 billion. Upon completion of the transaction, Twitter will become a privately held company.”
This is a developing story, Check back for updates.
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