{"id":3280,"date":"2022-04-26T12:21:29","date_gmt":"2022-04-26T12:21:29","guid":{"rendered":"https:\/\/mobilemall.co\/blog\/?p=3280"},"modified":"2023-05-10T07:41:55","modified_gmt":"2023-05-10T07:41:55","slug":"twitter-sold-to-elon-musk-for-44-billion","status":"publish","type":"post","link":"https:\/\/mobilemall.co\/blog\/twitter-sold-to-elon-musk-for-44-billion\/","title":{"rendered":"Twitter Sold To Elon Musk For $44 Billion"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">This week Elon Musk announced his bid to purchase Twitter and remove it from the market. At initially, it appeared that the company would respectfully (or&nbsp;<em>not so politely<\/em>) decline.&nbsp;But, a couple of days later, it appears that it rethought the decision and has now officially announced that it&#8217;s acquiescing to Musk&#8217;s bid.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This implies that Twitter is now &#8220;entered into a binding agreement to be purchased by an entity held by Elon Musk&#8221;, according to the press release of the company.&nbsp;The cost will be $54.20 for each share of cash (which is&nbsp;<em>there are no shares<\/em>&nbsp;in the SEC&#8217;s terminology, and is not&nbsp;<em>the actual amount of cash<\/em>&nbsp;however).&nbsp;So the total cost of the transaction is $44 billion.&nbsp;After completion (which could take several months due to all the regulatory scrutiny it&#8217;s sure to encounter), Twitter will become an unincorporated firm and will not be able to trade its shares at any exchange.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/mobilemall.co\/blog\/wp-content\/uploads\/2022\/04\/Twitter_Elon_Musk.webp\" alt=\"\" class=\"wp-image-3281\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Musk&#8217;s original idea at the time and it appears that things are coming together perfectly for Musk.&nbsp;The price per share that he&#8217;s paying is 38% more than the closing price of Twitter&#8217;s stock at the time the shares last traded.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;Free speech constitutes the foundation of a democratic system, as well. Twitter is the town square where issues that are crucial to humanity&#8217;s future are discussed&#8221;, Musk said.&nbsp;&#8220;I would also like to create Twitter better than it has ever been by making the platform more user-friendly with new features, and making it open-source to improve confidence, eliminating bots that spam the site, and establishing an authentic connection with every human.&nbsp;Twitter has a lot of potential. I am looking forward to working alongside the team and its group of people to realize its potential&#8221; He continued.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Musk obtained $25.5 billion in &#8220;fully committed loans and debt&#8221; and plans to use around $21 billion from his personal equity to fund the purchase.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Twitter has agreed to a $44bn (\u00a334.5bn)<\/em> deal<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This week Elon Musk announced his bid to purchase Twitter and remove it from the market. At initially, it appeared that the company would respectfully (or&nbsp;not so politely) decline.&nbsp;But, a couple of days later, it appears that it rethought the decision and has now officially announced that it&#8217;s acquiescing to Musk&#8217;s bid. This implies that [&hellip;]<\/p>\n","protected":false},"author":16,"featured_media":3283,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14,20],"tags":[168,221,222],"class_list":["post-3280","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","category-tech-lifestyle","tag-buy-twitter-for-44bn","tag-elon-musk-bought-twitter","tag-elon-musk-is-set-to-buy-twitter"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.7 (Yoast SEO v27.6) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Twitter Sold To Elon Musk For $44 Billion<\/title>\n<meta name=\"description\" content=\"Twitter Sold To Elon Musk, This week Elon Musk announced his bid to purchase Twitter and remove it from the market. 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At initially, it appeared that the company would respectfully (or\u00a0not so politely) decline.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/mobilemall.co\/blog\/twitter-sold-to-elon-musk-for-44-billion\/\" \/>\n<meta property=\"og:site_name\" content=\"MobileMall Blog\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/jayshree.malhotra2\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-26T12:21:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-10T07:41:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mobilemall.co\/blog\/wp-content\/uploads\/2022\/04\/twitter-sold-to-elon-musk-1-1.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"770\" \/>\n\t<meta property=\"og:image:height\" content=\"433\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Jayshree Rajani Malhotra (Tech Lifestyle)\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/JayshreeMalhot6\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jayshree Rajani Malhotra (Tech Lifestyle)\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/mobilemall.co\\\/blog\\\/twitter-sold-to-elon-musk-for-44-billion\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/mobilemall.co\\\/blog\\\/twitter-sold-to-elon-musk-for-44-billion\\\/\"},\"author\":{\"name\":\"Jayshree Rajani Malhotra (Tech Lifestyle)\",\"@id\":\"https:\\\/\\\/mobilemall.co\\\/blog\\\/#\\\/schema\\\/person\\\/f6e22b9b1492b9dc76906d45de07e0c6\"},\"headline\":\"Twitter Sold To Elon Musk For $44 Billion\",\"datePublished\":\"2022-04-26T12:21:29+00:00\",\"dateModified\":\"2023-05-10T07:41:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/mobilemall.co\\\/blog\\\/twitter-sold-to-elon-musk-for-44-billion\\\/\"},\"wordCount\":342,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/mobilemall.co\\\/blog\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/mobilemall.co\\\/blog\\\/twitter-sold-to-elon-musk-for-44-billion\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mobilemall.co\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/04\\\/twitter-sold-to-elon-musk-1-1.webp\",\"keywords\":[\"buy Twitter for $44bn\",\"elon musk bought twitter\",\"Elon Musk is set to buy Twitter\"],\"articleSection\":[\"News\",\"Tech Lifestyle\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/mobilemall.co\\\/blog\\\/twitter-sold-to-elon-musk-for-44-billion\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/mobilemall.co\\\/blog\\\/twitter-sold-to-elon-musk-for-44-billion\\\/\",\"url\":\"https:\\\/\\\/mobilemall.co\\\/blog\\\/twitter-sold-to-elon-musk-for-44-billion\\\/\",\"name\":\"Twitter Sold To Elon Musk For $44 Billion\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/mobilemall.co\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/mobilemall.co\\\/blog\\\/twitter-sold-to-elon-musk-for-44-billion\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/mobilemall.co\\\/blog\\\/twitter-sold-to-elon-musk-for-44-billion\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mobilemall.co\\\/blog\\\/wp-content\\\/uploads\\\/2022\\\/04\\\/twitter-sold-to-elon-musk-1-1.webp\",\"datePublished\":\"2022-04-26T12:21:29+00:00\",\"dateModified\":\"2023-05-10T07:41:55+00:00\",\"description\":\"Twitter Sold To Elon Musk, This week Elon Musk announced his bid to purchase Twitter and remove it from the market. 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