Elon Musk Completes Tumultuous $44 Billion Twitter Takeover
Elon Musk finalizes his massive $44 billion acquisition of Twitter after a chaotic months-long saga filled with legal disputes and reversed decisions. The new owner immediately fires top executives and cuts half of the company's workforce.
Elon Musk officially completes his $44 billion acquisition of Twitter, finalizing the purchase at his original offer price of $54.20 per share. The deal marks the dramatic end to a monthslong saga that begins in January when Musk starts investing in the social media company.
The path to ownership remains highly contentious as Musk repeatedly shifts his stance, initially agreeing to buy the platform in April before attempting to back out over concerns about spam and bot accounts. Twitter firmly rebukes these claims, prompting a fierce legal battle that ultimately pushes Musk to reverse course and move forward with the purchase in early October.
Following the closure of the deal on October 28, Musk acts quickly to reshape the company by firing top executives and laying off approximately half of the staff. He also establishes a content moderation council to handle account reinstatements and overhauls the platform's subscription service, signaling a major shift in how the social network operates.