Elon Musk now owns Twitter as $44 billion takeover close

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Elon Musk is the new owner of Twitter, giving the Tesla billionaire control of one of the world’s most powerful megaphones.

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Late Thursday evening, Musk tweeted: "The bird is freed."

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Musk had closed the $44 billion deal and fired top executives including the company's CEO Parag Agrawal.

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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.

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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.

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Twitter sued Musk to complete the purchase. Earlier this month, Musk offered to buy Twitter at the original price of $54.20 a share. 

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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.

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