In 2022, Twitter was acquired by Elon Musk for $44 billion.
Musk began buying Twitter shares in January 2022 and disclosed a 9.1% stake by April, making him the company’s largest shareholder. He initially accepted a board seat but declined it before making an unsolicited offer to buy the company for $54.20 per share.
Twitter’s board adopted a “poison pill” defense before unanimously accepting the offer on April 25. Musk briefly tried to terminate the agreement, but the acquisition closed on October 27, 2022. Twitter became privately held and was later folded into X Corp.
A common mix-up is confusing Twitter with X: X is the name Musk later gave the platform, while Twitter was the company he acquired.