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Ayana Archie

Twitter shareholders have approved the $44 billion sale to Elon Musk

Elon Musk Twitter Inc. Peiter Zatko Tesla Inc.

Tesla CEO Elon Musk speaks in March 2019 before unveiling the Model Y at Tesla's design studio in Hawthorne, Calif.. Musk's legal team is demanding to hear from a whistleblowing former Twitter executive who could help bolster Musk's case for backing out of a $44 billion deal to buy the social media company. (Jae C. Hong/AP)

Almost all of Twitter's shareholders have voted to approve the social media giant's deal with Tesla CEO Elon Musk, who had agreed to buy it for $44 billion but has since tried to back out.

About 98.6% of stockholders approved the buyout, priced at $54.20 per share. That was higher than Twitter's near-$50 share price when the deal was struck, and nearly 30% above its $41.90 per share value as markets opened on Thursday.

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