Elon Musk now owns Twitter as $44 billion takeover close
Elon Musk is the new owner of Twitter, giving the Tesla billionaire control of one of the world’s most powerful megaphones.
Late Thursday evening, Musk tweeted: "The bird is freed."
Musk had closed the $44 billion deal and fired top executives including the company's CEO Parag Agrawal.
Musk changed his Twitter bio to "Chief Twit" shortly before walking into Twitter's San Francisco headquarters carrying a porcelain sink. "Let that sink in," he tweeted.
With the deal completed, Twitter is once again a private company. Its shares stopped trading nearly nine years after it went public under the symbol TWTR on the New York Stock Exchange.
Twitter sued Musk to complete the purchase. Earlier this month, Musk offered to buy Twitter at the original price of $54.20 a share.
Did Elon Musk overpay for Twitter?Musk has recognized he overpaid for Twitter."The $44 billion sticker price for Twitter will go down as one of the most overpaid tech acquisitions throughout the entire existence of M&A bargains In the city as we would like to think," Wedbush Protections expert Daniel Ives wrote in an examination note Thursday. He put the worth of Twitter at nearer to $25 billion.