Billionaire Elon Musk, the CEO of both Tesla and SpaceX and richest man in the world, has signed a deal to acquire the social media platform twitter for $44B US, or $54.20 per share.

Musk began buying shared in the company earlier this year, and complained that the network was not properly ensuring free speech.

More than $25 billion US of the price will be financed with debt, including $750 million dollars from RBC and $400 million from CIBC.