Elon Musk acquires Twitter Know the value of the deal

Elon Musk bought the social platform Twitter at $54.20 a share, making its total value around $44 billion.

Elon Musk has reached an agreement with Twitter's board of directors to buy the social platform at $54.20 per share, bringing its total value to about $44 billion, Twitter announced Monday in a statement.

In doing so, the owner of the Tesla Group and the richest man in the world became the owner of the platform, which he considers "the public digital arena where topics vital to the future of humanity are discussed," according to the statement.

Discussions of the deal, which last week appeared uncertain, accelerated over the weekend after Musk flirted with Twitter shareholders about the financial details of his offer.

Under pressure, Twitter began negotiating with Musk to buy the company at a suggested price of $54.20 per share.

The agreement ends Twitter's career as a public company since its initial public offering in 2013.

Twitter shares rose about 6% after news of the agreement.