Tesla CEO Elon Musk is offering to buy 100% of Twitter in the latest 13D filed with the SEC on Thursday. He’s offering $43 Billion to buy Twitter. Previously a week ago, Tesla Inc’s and SpaceX’s boss joined social network company Twitter to sit on its board after acquiring a huge stake in Twitter shares.
The suggestion was made in a letter to Twitter on April 13. Musk says Twitter needs to go private to get through the changes that are needed. According to Bloomberg, the net worth of Elon Musk is around $260 billion and the Twitter Market Value is around $37 Billion. According to the CNBC, Elon Musk offered $43 Billion to Acquire Twitter which is $6 Billion more than its original market value.
According to The Verge, Musk is offering to “obtain all of the outstanding ordinary Stock of the Issuer not owned by the Reporting Person for all cash deliberation valuing the ordinary Stock at $54.20 per share.”
Musk said in a letter to Twitter chairman Brett Taylor, “I have invested in Twitter because I believe in the ability to be a platform for free speech around the world, and I believe that free speech in A society is essential to a functioning democracy. Twitter has extraordinary potential. I’ll open it.”
“If his offer is not accepted, I will need to reconsider my position as a shareholder,” Musk said.
Twitter confirmed in a news release on Thursday that “they had received an immovable, non-binding proposal” from Musk. The Twitter board of directors will consider the proposal to determine what action it considers to be in the best interests of the company and all Twitter shareholders. “
Elon Musk answered employees’ questions about the all-hands meeting on Thursday.