Musk's Twitter Challenges

Twitter Board Accepts Elon Musk's $44 Billion Buyout Offer

Twitter’s board has agreed to a $44 billion buyout offer from Tesla CEO Elon Musk. Under the terms of the deal, Musk will pay $54.20 per share in cash for the company. Twitter says Musk will provide about $21 billion, and has secured $25.5 billion of debt. 

Now the question is what will Musk do to change Twitter. In the past, Musk has criticized the platform's policies regarding free speech, its board of directors, and management, but has not yet said who he wants to run the company. The company’s current CEO, Parag Agrawal, has only led the company for five months after succeeding co-founder Jack Dorsey. Musk is currently the CEO of Tesla and SpaceX. 

There has also been speculation about whether Musk would allow former President Donald Trump back to Twitter. However, the former president has said that he does not intend to return to Twitter even if Musk completes his takeover of the company.

Meanwhile, shares of Digital World Acquisition Corp (DWAC), the special purpose acquisition company (SPAC) planning to take Trump’s rival Truth Social public, fell by 13% on the news of Musk’s acquisition of Twitter. Shares are down nearly 50% over the last month, and have fallen 40% since Musk disclosed his stake in Twitter.

"Some of the biggest questions facing Musk as he takes Twitter private are who he will make CEO of the company, how he will construct the new board of directors, and how will it recruit and retail talent now that it will no longer have stock options and grants to lure them," stated Caleb Silver, Investopedia's editor-in-chief.

Digital World Acquisition Corp. YTD Return
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