Elon Musk bought Twitter for $44 billion

The richest man in the world, Elon Musk, has reached an agreement with Twitter management to buy the company, Reuters reports.

The total amount of the deal will be $44 billion. Shareholders will receive $54.2 per share of common stock, up 38% from their value as of April 1, when it was revealed that Musk had acquired a 9% stake in the company.

Twitter confirmed the sale of the company to Musk. The Board of Directors approved the deal unanimously; it is expected to be closed by the end of 2022.

After the completion of the transaction, emphasizes , the company will cease to be public - its shares can only be sold over the counter. the press release

• Musk first announced his intention to buy Twitter in mid-April. The businessman noted that he wants to turn the social network, which has been criticized in recent years for its moderation policy, into a place "to express freedom of speech around the world."
• Initially, the deal was expected to be worth $43 billion.