Blog: Business Magnate Elon Musk Acquires Tweeter

Business Magnate Elon Musk Acquires Tweeter

On April 14, 2022, business magnate Elon Musk proposed to purchase social media company Twitter, Inc. for $43 billion, after previously acquiring 9.1 percent of the company's stock for $2.64 billion, becoming its largest shareholder. Twitter had then invited Musk to join their board of directors, which Musk accepted before changing his mind. In response to Musk's proposal, Twitter announced a "poison pill" strategy the next day to allow shareholders to purchase additional stock in the event a buyout should occur. On April 25, Twitter's board of directors unanimously accepted Musk's buyout offer of $44 billion, which would make him the company's sole owner. As of April 2022, Elon Musk announced an offer to buy Twitter for $54.20 a share. On April 25th, Twitter accepted the deal.


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