According to Twitter, Tesla CEO Elon Musk has secured a full $25.5 billion pledged financing. Musk will buy Twitter for $54.20 per share. After the Twitter company transaction is completed, it will become a privately held company. The transaction is expected to close by the end of 2022.
It is understood that Twitter is an open distribution platform and dialogue platform for short text, images and video content in the United States. It has been described as "the internet's texting service". The service was co-founded by Jack Dorsey in March 2006 with partners and launched in July of that year. The platform is very popular all over the world. As of the third quarter of 2020, Twitter had 187 million monetizable daily active users. Revenue in 2021 was $5.077 billion and net profit was -$221 million.
Former U.S. President Donald Trump has said he will not return to Twitter if musk resumes his Twitter account after the acquisition. According to reports, on the evening of January 8, 2021, the US social networking site Twitter issued a statement saying that it would permanently suspend the personal account of US President Trump.