Elon Musk completes his $44 billion purchase of Twitter
After months of back and forth and a looming trial, Musk closed the deal to take Twitter private.
Archive entry. This article looks back at an event from October 27, 2022. It was drafted with AI assistance from public records and is being fact-checked. See our About page.
On April 25, 2022, Twitter agreed to be acquired by Elon Musk for $54.20 per share, a deal valued at about $44 billion. Musk said he wanted to make the platform a stronger home for free speech.
In July 2022 Musk tried to back out of the agreement, and Twitter sued to hold him to it. A trial in the Delaware Court of Chancery was scheduled for October.
Before it began, Musk agreed to go ahead on the original terms, and the deal closed on October 27, 2022. Twitter became a private company. Musk made major changes to its staffing and rules in the weeks that followed.
