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Elon Musk buys Twitter for $44B and will privatize company

Elon Musk Twitter
Posted at 12:14 PM, Apr 25, 2022

Billionaire Elon Musk has reached an agreement to acquire Twitter for approximately $44 billion, the company said.

The outspoken Tesla CEO, the world’s wealthiest person, has said he wants to buy Twitter because he thinks it’s not living up to its potential as a platform for “free speech.”

He says it needs to be transformed as a private company in order to build trust with users and do better at serving what he calls the “societal imperative” of free speech.

Twitter said it will become a privately held company after the sale is closed.

Shares of Twitter Inc. rose 6% Monday to $52 per share.