Elon Musk closes in on $44 billion Twitter takeover deal

Elon Musk closes in on $44 billion Twitter takeover deal

In a major turn of events, Elon Musk's $44 billion Twitter takeover deal is expected to close in a few days.

This comes amid reports of Elon Musk's plans to lay off most of Twitter’s workforce if the deal is closed.

Musk reportedly told prospective investors that he plans to cut nearly 75% of Twitter’s employee base of 7,500 workers.

After his initial $44 billion bid in April to buy Twitter, Musk backed out of the deal.

He contended  that Twitter misrepresented the number of fake "spam bot” accounts on its platform.

After Twitter sued Musk, the two sides have until October 28 to work out the details.

If not, both sides will go to trial in November.

Significantly, Elon Musk's estimated net worth is $254 billion as of 2022.