- Driving the news: On Friday, Elon Musk bought Twitter for $44 billion, or $54.20 per share.
- It’s impossible to say exactly how much he’s overpaying by, but my favorite rule of thumb is that the nominal Twitter share price, absent the takeover bid, would be very close to the nominal Snap share price, which is now less than $10. (The two stocks moved in lockstep before Musk revealed his interest in Twitter.
- By that math, Musk and his silent-partner co-investors are paying a premium of about $35 billion so that the memelord can own his preferred social network.
