Elon Musk plans to finally buy Twitter on Friday

American billionaire and Tesla CEO Elon Musk has promised that he will close the deal to buy Twitter by October 28, meaning that the social network will have a new owner this Friday.

The imminent purchase of Twitter became known from a telephone conversation between Musk and bankers who lent the billionaire $ 13 billion to close the deal. The total value of Twitter is $ 44 billion, and back in April, the banks listed below committed to providing debt financing for the historic purchase. Also, according to the information previously published in the media, the cryptocurrency exchange Binance provided Musk with about $ 500 million for the purchase.

If the eccentric billionaire does acquire Twitter, 75% of the social network’s employees will be laid off. As Musk said a few days ago, in order to transform Twitter, he will reduce the staff from 7,500 employees to just over 2,000, which will significantly affect Twitter’s operations.

Currently, the billionaire is the subject of a federal investigation in the United States because of the Twitter acquisition deal. «Twitter representatives said they had been demanding that Musk’s lawyers provide the data to the federal authorities for months, but they have not done so. The company has asked a judge in Delaware to order the lawyers to produce the documents,» Reuters reported last week.

The new developments in the Musk-Twitter case also affect the Tesla father’s favorite cryptocurrency, Dogecoin. According to CoinMarketCap, the value of DOGE increased by 9.44% per day, and the cryptocurrency is currently trading at $ 0.065.