Elon Musk finally got what he wanted after long discussions and the agenda of court evidence. SpaceX and Tesla CEO, Twitter became the new and ‘sole’ owner. The acquisition of Elon Musk also set a date for Twitter’s biggest transformation.

While Elon Musk had previously announced that he would turn Twitter into a private company, today announced the company’s withdrawal date from the stock markets. The U.S. Securities and Exchange Commission (SEC) pointed to Nov. 8.

Twitter bids farewell to the public on November 8:

According to the document shared by the SEC, Twitter is currently listed on the New York Stock Exchange. It will be removed on November 8. Twitter stock transactions were terminated the moment Elon Musk bought Twitter. Twitter’s last publicly traded valuation was $41.09 billion at $53.70 per share.

So, what happens to those who have a Twitter share?

Elon Musk’s $44 Billion Deal Because Twitter Is A Public Company purchase of these shares. covered. In that agreement price of $54.20 for each Twitter share had been cut. All of these shares were bought by Elon Musk. Those who have shares will get the same amount of money as (Number of shares x 54.20).

Twitter is now a ‘sole proprietorship’:

Because Twitter is a sole proprietorship, the company actually has no public value. Just the company will reveal a value with the income it receives. However, the company is not required to share data such as the number of active users at the end of each quarter.