Jack Dorsey Finalizes Deal, Sells Twitter To Elon Musk For $44 Billion

Jack Dorsey, Noah Glass, Biz Stone, and Evan Williams no longer own TWITTER.

According to Reuters, an American Internet entrepreneur has finalized the deal to sell the microblogging service to Elon Musk for a hefty $44 billion.

The deal is worth approximately 44 billion U.S. dollars, or 54.20 per share, which will be paid out to the shareholders.

At 51.63 cents per share, trading was suspended shortly before 3 p.m. Eastern.

Musk made an unsolicited approach to buy the social media platform earlier this month when he bought a 9.2% stake in the company, making him the company’s largest outside stakeholder, but he declined a board member position instead.

He proposed to buy Twitter permanently on April 14th, with ambitions to take the public company private and turn it into what he characterizes as a global platform for free speech.