#Twitter acquisition elon

Elon Musk has just completed his deal to acquire Twitter for USD 44 billion. Closing the takeover deal of Twitter ends a tumultuous time for both Musk and Twitter with constant back and forth of whether or not Musk would push through with his acquisition. After Twitter had sued Musk in Delaware, Musk agreed to continue with his acquisition of Twitter for USD 44 billion at USD 54.20 per share. With Elon Musk now owning twitter, his specific plans for the company still remain unclear, as well as who shall fill in the shoes of the top executives at Twitter. Elon Musk has revealed that Twitter's cash flow still remains negative ever since he bought it last 2022, this is due to the fact that it has roughly seen a 50% drop in ad revenue along with a "heavy debt load". Elon Musk has appointed Linda Yaccarino, a former advertising chief at NBCUniversal, as the new CEO of Twitter to address the company's decline in ad revenue. https://t.co/TiSJtTWuky — Elon Musk (@elonmusk) May 12, 2023 Musk plans to revamp Twitter as "X, the everything app," which could include peer-to-peer payments. Read more in our articles including "Elon Musk completes deal to takeover Twitter, fires CEO & other top executives" and "Elon Musk reveals that Twitter remains cash flow negative as ad revenue drops 50%".