• Elon Musk, Twitter’s (TWTR, $53.70) new owner and the world's richest person, has finalized his $44B acquisition of Twitter for $54.20 a share. Musk has collected finance from banks led by Morgan Stanley, and will inject $21B from his pocket. This has led to a loss of $10B in Musk’s net worth.
• However, these are not the only losses that Mr. Musk will have to bear – shares of social media companies have overall crashed. This is due to economic uncertainty and interest rate increases cutting down advertiser spending on social media platforms. 
• However, Twitter investors are faring well as a result of this deal. They received a 20% premium over Musk’s offer and missed the crash in stock prices that hit rival social media companies. Moreover, the Twitter executives fired by Musk will also be getting payouts worth $122M.