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Twitter Takeover: Elon Musk Makes Huge $43 Billion Offer For Twitter

Elon Musk, Tesla’s CEO, has made a bid to purchase Twitter, a microblogging and social media network, for $43 billion.

On Thursday, Musk revealed the offer in a filing with the Securities and Exchange Commission.

The billionaire will pay 54.20 per share in cash, a 54 percent premium over the closing price on January 28 and a total value of $43 billion.

Elon Musk Overtakes Jeff Bezos As World’s Richest Person

In a letter to Twitter’s board, Musk stated that “in its current form, Twitter can neither survive nor satisfy [its free speech] social mandate.” Twitter should be turned into a private firm.”

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On April 4, Musk revealed that he had a 9% share in Tesla.

On March 24, the 50-year-old conducted a poll to determine if Twitter’s algorithm should be open source.

Musk later asked whether or not Twitter rigorously adheres to the principle of free speech.

After the majority replied ‘no’, Musk asked whether a new networking site was needed, disclosing he was considering starting his own.

 

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