The billionaire entered Twitter's head office yesterday holding what popped up to be a bathroom sink. The Tesla and SpaceX CEO will leave tonight with the keys and $44 billion less in his wallet.
The deal was supposed to close tomorrow, but sources have told Business Insider, the Financial Times, and CNBC that Musk and Twitter closed it today, and CEO Parag Agarwal and a number of top executives stepped down.
The agreement brings to an end a months-long, on-again, off-again saga that waded through social media, thousands of newspaper pages, the Securities and Exchange Commission, and the juries. Musk attempted to back out of the deal after initially stating that he would buy the social media site earlier this year, claiming that the platform had mischaracterized the number of spam accounts on the platform.
Twitter later sued Musk, and the billionaire announced earlier this month that the deal was back on track. The acquisition will put an end to Twitter's lawsuit against him, which was filed to compel him to complete the deal.
Musk, on the other hand, will not have an easy ride. Twitter reported earlier this week that it is struggling to retain its most active users, the 10% of users who account for 90% of all Twitter posts and half of the company's worldwide revenue.
Do you think there will be many changes now that Elon is the new owner? Drop your comments by sharing this article on social media.