The stock market took the view for the first time that it was unlikely that Elon Musk will acquire Twitter Inc for $44 billion. The implied probability of the deal closing at that price fell below 50% when Twitter shares hit $46.75, based on the $54.20 deal price and Twitter’s shares having closed at $39.31 on April 1. Twitter shares fell as much as 3% to touch a low of $46.50 in afternoon trading.
Elon Musk attends the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022. Musk, the world’s richest person and also the chief executive of electric car maker Tesla Inc, on April 25 clinched a deal to buy the social media platform. Twitter said that at the time that Musk secured $25.5 billion of debt and margin loan financing and was providing a $21 billion equity commitment. Musk, who is worth $268 billion according to Forbes, had said he was not primarily concerned with the economics of Twitter.
In a public talk he stated that having a public platform that is maximally trusted and broadly inclusive is extremely important to the future of civilization. He also don’t care about the economics at all.