Elon Musk Has Reportedly Agreed To Buy Twitter For The Original Purchase Price And The Conspiracy Theories Are Flying

In a stunning reversal, Elon Musk has reportedly agreed to acquire Twitter at the original purchase price. After rushing into the deal earlier in the year, the Tesla CEO spent the entire summer attempting to back out of the deal. The two parties were due in court later this month, but that won’t be necessary. Musk is moving forward with the purchase, and he could be the owner of Twitter in a matter of days, putting an end to all litigation.


Elon Musk has reversed course and is again proposing to buy Twitter for $54.20 a share, according to sources familiar with the matter. A deal could happen as soon as Friday, the sources added.

Twitter shares jumped as much as 15% on Tuesday after Bloomberg first reported on the Tesla CEO’s plans to go forth with his deal to acquire the company. The stock was halted after the report.

As for why Musk suddenly reversed course, there are several theories on that front. The most likely reason is that he knew he would lose in Delaware Chancery Court thanks to his initial error of rushing into the deal. However, that doesn’t negate the need for funding to complete the purchase, and that’s where the conspiracy theories are flying.

A day before Musk announced that he would make good on his offer to purchase the social media platform, he was roundly embarrassed on Twitter for proposing a peace deal with Russia and Ukraine that earned him a blunt “f*ck off” from a Ukrainian ambassador. Musk’s terms were a little too favorable towards Russia, which has people speculating that the country may be helping to finance his Twitter takeover. Of course, others are arguing that Musk is simply stupid rich and totally willing to burn through his fortune to crush his opponents for mocking him. Or that he wants those comments out of the news cycle. Whatever the reason, this is apparently happening for real now.

You can see some of the reactions below:


(Via CNBC)