Elon Musk, founder of Tesla and SpaceX, bought Twitter for $44 billion. This is Twitter, Inc. reported by, PR Newswire reported.

“Twitter, Inc. announced today that it has entered into a final agreement to acquire a wholly owned company for $54.2 per share, estimated valuation of approximately $44 billion,” he said.

The businessman said that Twitter has great potential. It aims to make the social network “better than ever”.

Freedom of expression is the foundation of a functioning democracy, and Twitter is a digital town square where issues vital to humanity’s future are discussed. I also want to make Twitter better than ever by enhancing the product with new features, making open source algorithms to increase trust, defeating spam bots, and verifying everyone’s identity. elon musk

Twitter purchase intent

The businessman previously called the goal of acquiring the social network Twitter not the pursuit of commercial interests and interesting investments, but the desire to create a public platform with maximum trust in society around the world and giving everyone the right to self-expression.

According to Mask, he primarily cares about the future of civilization and wants people to have an idea about the ability to speak freely within the law. During the TED 2022 conference, the entrepreneur explained that he was driven by a strong intuition that told him the global platform was extremely important.

But the Tesla and SpaceX founder said he doesn’t see himself as Twitter’s ideal leader. He is sure that he can make many mistakes.

Funding sources

Musk also previously announced the funding sources for the acquisition of Twitter. The banks agreed to lend him more than half the amount.

Thus, according to a document submitted by the businessman to the US Securities and Exchange Commission (SEC), Morgan Stanley agreed to provide a $12.5 billion margin loan secured by Tesla shares.

The businessman also planned to pay out $21 billion in personal funds. Musk has also considered the possibility of submitting a tender offer (buying the company directly from its shareholders – watch out for GSMinfo).

At the same time, the largest private investment groups refused to pay the billionaire to buy the social network. They fear Twitter can’t get any more profitable.

Additionally, many potential lenders are concerned about Tesla’s founder’s desire to promote greater freedom of expression on Twitter. This risks hurting the business by making the social network less attractive to advertisers.