After Tesla, Elon Musk finally succeeded in buying one of the most famous social media sites Twitter. Musk closed the deal for $44 billion whose shares are valued at $54.20. The CEO of Tesla raised his bid upon Twitter calling it his best and final deal on the 14th of April. He said that he has secured funding to buy Twitter.
Consequently, the board of directors initiated this deal by checking his final offerings. According to the latest updates, Elon Musk personally contacted some of the shareholders and held a meeting to put some weight upon his words over him buying Twitter. Today, it is official that this mega deal is in the hands of the CEO of Tesla, Elon Musk.
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ELON MUSK’S “NEXT TWITTER”
Before the CEO raised his bid for the social media platform, the regulators of the United States of America told a federal judge not to let the executive close the case by tweeting with abandon.
Elon Musk said that he is very serious about building the next Twitter. He has even tweeted about his idea which was monitored by a judge as well.
ELON MUSK TWEETS ABOUT THE FUTURE GROWTH OF TWITTER
On the other hand, last week, he said that he would not join Twitter firm’s board. Elon Musk tweeted about his thoughts for a few weeks. He talked about Twitter and its future growth with his 80 million followers. Using his strategies to grab everyone’s attention, he cited a few examples of some of the most famous personalities and their lower tweets.
CEO BOUGHT TWITTER’S SHARE AT A LOWER PRICE
A shareholder of Twitter sued Elon Musk in federal securities. The case was taken forward over a situation where Elon failed to disclose his 5 percent stake on the social media platform even after he was asked to do so. Following the situation, the CEO bought more shares at a lower price.
WHEN DID ELON MAKE HIS OFFER?
SpaceX CEO made an offer to own the whole company on 14th April for $43 billion at $54.20 per share. He also tweeted a copy of the offer he made with the executive council.
FUNDS TO BUT TWITTER
Talking about his funds, Musk said that he will raise funds from different sectors. He will borrow $13 billion in fashion, $12.5 billion against his equity holdings. He would pay $21 from his holdings.
Yesterday, on 25th April, the board of directors discussed the CEO’s offer. They even negotiated with him to disclose more details about his initiative.
DEAL CLOSED AT $44 BILLION
Today, Twitter has accepted Elon Musk’s offer. The deal is closed at $44 billion valued at $54.20 per share. Elon Musk is the new owner of the social media platform, Twitter. Unlike other social media platforms, Twitter is used by a large number of individuals. From students to celebrities, every individual who wants to raise his or her voice over something or against something finds Twitter, the best medium.