Elon Musk’s Twitter takeover, explained

He is buying the company for about $44 billion

Billionaire Elon Musk has made a bid to buy Twitter. (Brendan Smialowski/AFP/Getty Images)
6 min

Elon Musk, the world’s richest person, will buy social media site Twitter for about $44 billion after weeks of back-and-forth with the company.

Musk offered to buy Twitter for $54.20 per share, and the company agreed more than a week after he first launched his hostile takeover bid. The billionaire said he believes the company has the “potential to be the platform for free speech around the globe.”

Twitter’s board appeared to reconsider the offer after first taking steps to avoid it when Musk said he has secured $46.5 billion in financing to acquire Twitter.

Musk is best known for being an electric car innovator and space enthusiast, so how did we get to this point?

Elon Musk launches hostile takeover bid for Twitter