World’s richest man Elon Musk doesn’t want a piece of Twitter —he wants the whole thing.
According to a report from the New York Post, Musk has offered to buy Twitter for $41 billion dollars —that’s $54.20 per share and a 38% premium to Twitter’s April 1 close. Musk shared the news on Twitter:
I made an offer https://t.co/VvreuPMeLu
— Elon Musk (@elonmusk) April 14, 2022
“I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy,” Musk wrote in a letter to Twitter Chairman Bret Taylor.
“Since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.”
“My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder,” Musk said.
According to the Post, Musk was very direct in the filing, Telling the Twitter board: “I am not playing the back-and-forth game,” and “I have moved straight to the end…It’s a high price and your shareholders will love it.”
Twitter said in a statement: “The Twitter Board of Directors will carefully review the proposal to determine the course of action that it believes is in the best interest of the Company and all Twitter stockholders.”
“Twitter has extraordinary potential. I will unlock it,” Musk says.
This story is developing…
— New York Post (@nypost) April 14, 2022