Just after Tesla CEO Elon Musk settle a deal to buy Twitter for $44 billion in cash, social media is flooded with hilarious memes on Elon Musk. Twitter will be accquired wholly by Elon Musk for $54.20 per share in cash in a transaction.

This acquisition will change ownership of the microblogging service, which has millions of users.

Here's how netizens reacted to Elon Musk's Twitter takeover.

Musk's decision follows in the footsteps of billionaires such as Rupert Murdoch, who bought the New York Post in 1976 and the Wall Street Journal in 2007, and Jeff Bezos, who bought the Washington Post in 2013.

Twitter Previously Replied to Musk’s Offer

In a statement, Twitter said, "we have received Musk's offer to acquire remaining shares, and the board will carefully consider this proposal."

In early trade, Twitter shares jumped 3.6 percent to $47.49. The social networking platform's shares, which were valued $37 billion before Musk's bid, fell by nearly a third in value during the preceding year.