Elon Musk Buys Twitter for $44 Billion


Calvin Chang

On Monday, April 25, Elon Musk made a deal with Twitter to buy the company for $44 billion.

It started in late March, when Musk criticized the lack of free speech on the platform. It was later revealed in early April that he held 9.2% of Twitter’s stock, making him Twitter’s biggest shareholder.

Twitter later invited him to the Board of Directors, which he accepted. He left a few days after he realized that he couldn’t own more than 14.9% of the company if he served on the Board. For context, Musk would have needed to own at least 51% of the company to have complete control over it.

On April 14th, Musk offered to buy 100% of Twitter for $44 billion; this was finalized by the Board on April 25th, although many people thought that he would cancel the deal, which would have cost him a billion dollar fee.

“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,” said Elon Musk. “Twitter has tremendous potential — I look forward to working with the company and the community of users to unlock it.”