Elon Musk Close To Finalizing $43B Twitter Deal: Report

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Twitter logo displayed on a phone screen and Elon Musk's Twitter account displayed on a screen in the background are seen in this illustration photo taken in Poland on April 24, 2022.
Twitter is reportedly on pace to accept Elon Musk's offer to buy out the social media platform.

Elon Musk previously hinted at buying out Twitter. Some didn't think it would happen, while others encouraged the thought of the Tesla CEO taking over the platform in support of free speech. Earlier this month, he became the largest shareholder after purchasing 9.2% of the company for $2.89 billion.

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According to reports from Reuters and Wall Street Journal, he might soon be shelling out even more dough to secure the purchase of the platform in its entirety. Sources close to the situation said that Twitter is close to finalizing a deal with Elon Musk who offered to pay $54.20 per share in cash. Overall, it would value Twitter at $43 billion.

Before finalizing the deal, Twitter's board will meet with shareholders to encourage the transaction to move forward. However, there's still a chance that the potential acquisition could fall through. If it does move forward, there's reports that the announcement could be made before the end of the day on Monday. 

Despite being one of the most popular figures on Twitter, he's also remained quite critical of the platform. Along with questioning whether Twitter respects the right to free speech, he's also stated that he wants to make a concerted effort against combatting troll accounts. He also said he wanted to introduce changes to Twitter Blue, a subscription-based service.

We'll keep you posted on more details surrounding Musk's deal with Twitter.

Do you think Twitter will benefit from Elon Musk's leadership? Let us know in the comment section below. 

About The Author
Aron A. is a features editor for HotNewHipHop. Beginning his tenure at HotNewHipHop in July 2017, he has comprehensively documented the biggest stories in the culture over the past few years. Throughout his time, Aron’s helped introduce a number of buzzing up-and-coming artists to our audience, identifying regional trends and highlighting hip-hop from across the globe. As a Canadian-based music journalist, he has also made a concerted effort to put spotlights on artists hailing from North of the border as part of Rise & Grind, the weekly interview series that he created and launched in 2021. Aron also broke a number of stories through his extensive interviews with beloved figures in the culture. These include industry vets (Quality Control co-founder Kevin "Coach K" Lee, Wayno Clark), definitive producers (DJ Paul, Hit-Boy, Zaytoven), cultural disruptors (Soulja Boy), lyrical heavyweights (Pusha T, Styles P, Danny Brown), cultural pioneers (Dapper Dan, Big Daddy Kane), and the next generation of stars (Lil Durk, Latto, Fivio Foreign, Denzel Curry). Aron also penned cover stories with the likes of Rick Ross, Central Cee, Moneybagg Yo, Vince Staples, and Bobby Shmurda.