Elon Musk acquires Twitter for Rp629tn, taking it private

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Elon Musk
Elon Musk (Source: Associated Press)

Jakarta, IO – Elon Musk officially bought Twitter for US$44 billion (Rp629.2 trillion) on Monday (25/4).

He also reverted Twitter into a private company, meaning shares of the popular micro-blogging platform will no longer be trade at the US stock exchange, reported CNBC Indonesia.

Read: Sandiaga estimates Rp72tn economic turnover during Eid holiday

Before, it was reported that the Tesla and SpaceX boss did not have sufficient cash to raise US$46.5 billion (Rp668 trillion) worth of funding commitment, consisting of US$25.5 billion borrowing from Morgan Stanley and US$21 billion equity. He was also personally eager to shell out US$10 billion to US$15 billion of his own money.