{"id":69215,"date":"2022-10-28T10:02:41","date_gmt":"2022-10-28T07:02:41","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=69215"},"modified":"2025-09-07T18:39:35","modified_gmt":"2025-09-07T15:39:35","slug":"elon-musk-closes-deal-to-buy-twitter","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/elon-musk-closes-deal-to-buy-twitter\/","title":{"rendered":"Elon Musk closes deal to buy Twitter"},"content":{"rendered":"<p>The founder of Tesla, Elon Musk, has closed the deal to buy Twitter for $44 billion. The former CEO Parag Agrawal and chief financial officer Ned Segal have left the company&#8217;s headquarters, according to <a href=\\\"https:\/\/www.cnbc.com\/2022\/10\/27\/elon-musk-now-in-charge-of-twitter-ceo-and-cfo-have-left-sources-say.html\\\">CNBC<\/a>.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">the bird is freed<\/p>\n<p>\u2014 Elon Musk (@elonmusk) <a href=\\\"https:\/\/twitter.com\/elonmusk\/status\/1585841080431321088?ref_src=twsrc%5Etfw\\\">October 28, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cThe bird is free,\u201d commented Musk on the closing of the deal.<\/p>\n<\/blockquote>\n<p>According to <a href=\\\"https:\/\/www.reuters.com\/markets\/deals\/elon-musk-completes-44-bln-acquisition-twitter-2022-10-28\/\\\">Reuters<\/a>, the billionaire has already begun making initial layoffs. In addition to Agrawal and Segal, Vijaya Gadde, head of legal policy, and chief counsel Sean Edgett left the company.<\/p>\n<p>According to <a href=\\\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-27\/tesla-engineers-visit-twitter-office-to-review-code-for-musk?srnd=premium-europe\\\">Bloomberg<\/a>, Musk asked Tesla engineers to meet with Twitter developers to review the product&#8217;s code.<\/p>\n<p>Binance CEO Changpeng Zhao, in comments to <a href=\\\"https:\/\/www.coindesk.com\/business\/2022\/10\/28\/binances-cz-confirms-participating-as-equity-investor-in-musks-twitter-takeover\/\\\">CoinDesk<\/a> confirmed that the Bitcoin exchange participated in financing the deal.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cWe aim to play our role in uniting social networks and <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-web3\">Web3<\/a> to broaden the use and adoption of cryptocurrencies and blockchain technologies,\u201d Zhao said.<\/p>\n<\/blockquote>\n<p>In May, Musk indicated in a filing with the <span data-descr=\\\"Securities and Exchange Commission\\\" class=\\\"old_tooltip\\\">SEC<\/span> that Binance <a href=\"https:\/\/u1f987.com\/en\/news\/binance-backs-elon-musk-with-500-million-for-twitter-takeover\">provided him with $500 million<\/a> for the Twitter purchase. On 25 October, the head of the platform <a href=\\\"https:\/\/www.bloomberg.com\/news\/articles\/2022-10-25\/binance-ceo-says-he-thinks-he-ll-stick-with-musk-in-twitter-bid\\\">confirmed<\/a> the intention to finance the deal. Zhao later clarified that the funds were probably wired \u201caround the time I was asked about Elon\/Twitter.\u201d<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Our intern says we wired the $500 million 2 days ago, probably just as I was being asked about Elon\/Twitter. <a href=\\\"https:\/\/t.co\/gM65GHUnZC\\\">https:\/\/t.co\/gM65GHUnZC<\/a><\/p>\n<p>\u2014 CZ \ud83d\udd36 Binance (@cz_binance) <a href=\\\"https:\/\/twitter.com\/cz_binance\/status\/1585836479129202688?ref_src=twsrc%5Etfw\\\">October 28, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>In early April, Musk became Twitter&#8217;s largest shareholder after acquiring 9.2% of the shares for $2.89 billion.<\/p>\n<p>On 14 April, he <a href=\"https:\/\/u1f987.com\/en\/news\/elon-musk-proposes-over-43-billion-to-buy-twitter\">proposed to buy the social network for more than $43 billion<\/a>. The entrepreneur said the aim was to create an \u201cinclusive arena for freedom of speech,\u201d not to profit.<\/p>\n<p>However in May the billionaire announced a <a href=\"https:\/\/u1f987.com\/en\/news\/elon-musk-halts-twitter-acquisition\">pause in the Twitter purchase<\/a> after reports that the platform overestimated its audience metrics. He also <a href=\"https:\/\/u1f987.com\/en\/news\/elon-musk-accuses-twitters-algorithms-of-manipulating-users\">accused the algorithms<\/a> of manipulating users.<\/p>\n<p>Twitter shareholders <a href=\"https:\/\/u1f987.com\/en\/news\/twitter-shareholders-sue-elon-musk-over-market-manipulation\">sued Musk<\/a> over the \u201cchaotic process\u201d of the takeover. In July the businessman <a href=\\\"https:\/\/www.cnbc.com\/2022\/07\/29\/elon-musk-countersues-twitter-over-merger-filing-confidential.html\\\">filed a countersuit<\/a>.<\/p>\n<p>On 4 October it emerged that the entrepreneur was <a href=\"https:\/\/u1f987.com\/en\/news\/bloomberg-reports-elon-musk-to-proceed-with-twitter-acquisition\">again pursuing the takeover<\/a> on the original terms \u2014 $54.2 per share.<\/p>\n<p>Earlier, on October 27, Musk <a href=\"https:\/\/u1f987.com\/en\/news\/elon-musk-hints-at-closing-twitter-deal\">posted a video<\/a> of visiting Twitter&#8217;s headquarters, hinting at the deal\u2019s closure.<\/p>\n<p>Read ForkLog\u2019s bitcoin news in our <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, rates and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Elon Musk, founder of Tesla, closes the deal to buy Twitter for $44 billion. The former CEO Parag Agrawal and the chief financial officer Ned Segal have left the headquarters, according to CNBC.<\/p>\n","protected":false},"author":1,"featured_media":69216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1217,40],"class_list":["post-69215","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-elon-musk","tag-twitter"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69215","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=69215"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69215\/revisions"}],"predecessor-version":[{"id":69217,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69215\/revisions\/69217"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/69216"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=69215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=69215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=69215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}