Elon Musk acquires Twitter

Sophie Beard posted on 26 April 2022

Twitter has accepted Elon Musk’s bid to buy the company for $44 billion in a deal expected to close later this year. The move values the company at $54.20 per share, shares will now be unlisted and Twitter will become private.

Musk’s move within the company has been swift. In April, he became the largest shareholder of the platform, and shortly after he was invited to join the board – which he declined and followed with his bid to take over.

How will this takeover affect the direction of the platform? Musk, who has more than 80 million followers on Twitter, has highlighted that he wants to make changes to the platform, including allowing users to edit posts once published, allowing posts to be longer, and removing fake accounts.

A statement from Musk following the announcement: