The board of the micro-blogging site agreed to a $44 billion takeover offer from Musk. The richest person in the world has a preferred social media platform.
Musk is paying $54.20 per share in cash for the company. The announcement ended a weekslong saga that began when Musk bid to buy the company at that price.
There are no financing conditions to the closing of the transaction, according to the statement.
Musk is taking over. There are many unanswered questions regarding the future of the popular social media platform. Users, employees, investors and politicians are waiting to hear more about the topics.
Who will be the new CEO is one of the biggest questions.
Parag Agrawal took over as CEO five months after succeeding Jack Dorsey. Musk snapped up 9% of the stock and agreed to join the board.
Musk decided to go after the whole company after scrapping the agreement.
He got his attention on Monday, and now it seems unlikely that he and his partner will forget about their future together.
The board of directors adopted a poison pill to try and prevent a hostile takeover of the company by Musk. Musk had agreed to join the board.
Musk gets to wipe the slate clean, and the list of potential candidates to help him in the journey is long. They have appeared together recently. He could join forces with his friend.
It's not clear how much control the mega-billionaire will exert.
Musk is the CEO of two companies, one of which is worth $100 billion in the private market. He has two start-ups, Neuralink and The Boring Company.
Will he allow an independent management team to run the operations of the Washington Post? Will it be a hands-on owner? Many high-profile people who have been kicked off the site will soon return, if the answer is correct.
Musk has asked his 83 million followers to weigh in on whether or not they want an edit button. Will he make decisions based on what his followers want?
He said what he said in the release.
The bedrock of a functioning democracy is free speech, and the digital town square is where matters vital to the future of humanity are debated. I want to make the product better by adding new features, making the algorithms open source to increase trust, and authenticating all humans. I look forward to working with the company and the community of users to unlock it.
What does Musk mean by free speech? He wrote on Monday that he hopes his worst critics remain on the social networking site.
Will he allow everyone to stay? Content moderation is important to keep a social network from being a dumpster fire. The First Amendment doesn't mean what a private corporation does.
Donald Trump was banned from the social media site for violating its rules, a move that drew ire from him and many conservative politicians. Musk doesn't like what he sees as the company's policies of censorship. Will Trump come back? Will users leave as a result? Will open source help us understand who comes, who goes and why?
Trump told CNBC on Monday that he wouldn't return to social media even if the ban was lifted.
When I was in the White House, we did a lot for social media. I won't be going back on the social networking site.
Musk has to figure out a new structure for employee pay after taking the company private. Stock grants and rewards are no longer meaningful. Should the company go public again, will they be replaced with equity in the new version?
The market for talent in the tech industry is very competitive. Employers are under more pressure to keep what they have. Why would workers stay at the site when they could go somewhere else?
Who does Musk keep? A lot of employees are suddenly irrelevant if he removes content-moderation practices. Does the Musk army become a workforce?
If you bet $1 trillion on a single company, it's likely that you'll bet on Musk to keep working his magic. He has a lot of things to think about. Is this one too big for some investors? Since Musk's bid on April 14, the shares have fallen 2.3%. The index has fallen further.
Musk's takeover ofTwitter is a success for shareholders.
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