It’s official: Elon Musk is buying Twitter

Just weeks after buying a 9% stake, Elon Musk won his battle to take over Twitter.

On April 25, Twitter’s board of directors announced the sale of the company to Musk, the billionaire CEO of Tesla and SpaceX, for approximately $44 billion in cash. The deal values each Twitter share, which traded at $51.60 when it was halted by the US Securities and Exchange Commission on Monday, at $54.20.

Musk is the world’s richest man, according to Forbes, with an estimated net worth of $268 billion.

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