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Elon Musk Offers To Buy Twitter For $43 Billion After Rejecting A Seat On The Board Of Directors

By Gina Florio··  2 min read
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Tech mogul and billionaire Elon Musk regularly uses Twitter and has always been outspoken on the popular social media platform.

The Tesla founder also recently became the company's largest shareholder with a 9.2% stake in the company. Shortly after this development, he was offered a seat on the board of directors. He shocked many people by turning down the offer, but it turns out he had something much bigger in mind.

Elon Musk Offers To Buy Twitter for $43 Billion

After years of censorship, Musk has always insisted that Twitter should return to being a free speech platform (and consider adding an edit button), and in order for that to happen, Twitter needs to be transformed privately. He has offered to buy the social media company for $43 billion.

Musk says this is his "best and final offer," and if his offer isn't accepted, then he would "need to reconsider my position as a shareholder," according to a letter sent to Twitter's chair, Bret Taylor, on April 13. He is offering to buy "100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced."

“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 the letter. “However, 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.”

Twitter released a statement saying that the 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."

Everyone is waiting impatiently to see whether Twitter will accept his offer.

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