finance
monthly
Personal Finance. Money. Investing.
Contribute
Newsletter
Corporate

Multi-Billionaire Elon Musk Reaches Deal To Buy Twitter

Elon Musk has reached a $44 billion deal to acquire Twitter.

Posted: 26th April 2022 by Finance Monthly
Share this article

The deal was shaken upon on Monday after weeks of speculation about the social media giant’s future following Musk’s emergence as the platform’s largest single shareholder on 4 April. Ten days later, Musk then declared a takeover bid, offering $54.20 per Twitter share. 

Initially, Twitter’s board appeared to be against the takeover and introduced a “poison pill” in a bid to block the sale. However, they warmed to the idea after Musk announced a funding package for the deal, which includes $21 billion of his own wealth as well as debt funding from Morgan Stanley.

In the past, Musk has criticised Twitter, claiming it does not allow free speech. In a tweet that followed confirmation of the deal being accepted, Musk wrote, “Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated [...] I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating spam bots, and authenticating all humans. Twitter has tremendous potential - I look forward to working with the company and the community of users to unlock it.”

About Finance Monthly

Universal Media logo
Finance Monthly is a comprehensive website tailored for individuals seeking insights into the world of consumer finance and money management. It offers news, commentary, and in-depth analysis on topics crucial to personal financial management and decision-making. Whether you're interested in budgeting, investing, or understanding market trends, Finance Monthly provides valuable information to help you navigate the financial aspects of everyday life.
© 2024 Finance Monthly - All Rights Reserved.
News Illustration

Get our free monthly FM email

Subscribe to Finance Monthly and Get the Latest Finance News, Opinion and Insight Direct to you every month.
chevron-right-circle linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram