Elon Musk Offers to Buy Twitter With a $43 Billion Cash Takeover Offer

Elon Musk And His Twitter Bid

Elon Musk, a billionaire entrepreneur announced a bid to take over Twitter on 14th April 2022. The CEO of Tesla and SpaceX, Musk offered $54.20 a share which would leave Twitter with a valuation of $43 billion roughly. Mr. Musk’s bid came just weeks after he became the company’s largest shareholder. Mr. Musk bought a 9.2 percent stake in Twitter earlier this April, according to a regulatory filing. However, the invitation to join Twitter’s board of directors the next day was rejected by him on the weekend.

Elon Musk On Twitter

Elon Musk has more than 80 million followers on Twitter joining in 2009 to till date. Mr. Musk uses Twitter to make several announcements. Also, Mr. Musk has long used Twitter to bash critics, mock Tesla short-sellers, and offer grand space exploration projects. In addition, he also misinformed the public about the pandemic. In a tweet in 2018, he talked about taking Tesla private. He incorrectly stated that he secured funding for the project. For this, the Securities and Exchange Commission charged a fine of $40 million.

Mr. Musk has long advocated for the importance of free speech. Also, he has regularly criticized Twitter for overly restricting its platform. And, he previously proposed a major transfer in power in social networking from huge corporations to users.

Mr. Musk stated, “Twitter has enormous potential.” “I’ll get it open.” Further, Mr. Musk says having a public platform that is maximally trusted and broadly inclusive is essential.

Moreover, Mr. Musk stated in the letter sent to Twitter’s chair that if his takeover bid is not accepted, he will “need to reconsider my status as a shareholder.”

Also, at a TED conference, Mr. Musk stated to the audience that there is a Plan B if there comes the rejection of the bid.

The decision might lead to far-reaching consequences for Twitter. As, it is a social media platform where world leaders, lawmakers, and celebrities. And, over 217 million other users engage in daily public dialogue.

Elon Musk is a renowned name in the current scenario for his unpredictable moves and extraordinary vision. What do you think of Musk’s bid on Twitter? Also, share your thoughts if a social platform like Twitter needs to go public or private?

Recommended posts:

Home PageClick Here