Billionaire Elon Musk Announces Plans Of Acquiring 100% Of Twitter
Billionaire Elon Musk Announces Plans Of Acquiring 100% Of Twitter. Founder of Space X and CEO of Tesla, Elon Musk has announced that he has made an offer to purchase 100% of Twitter for $43 billion. Musk believes that Twitter needs to be the platform for free speech and to achieve this it needs to be transformed.
Musk said in a statement, “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. 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.”
He continued to say, “As a result, I am 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. My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder. Twitter has extraordinary potential. I will unlock it.” Musk is determined to transform the platform as he was already making suggestions on what needs to be changed even before it was announced that he acquired a 9% stake in the platform.
Twitter is an American social networking service on which users post and interact with messages known as “tweets”. Registered users can post, like, and retweet tweets, but unregistered users can only read those that are publicly available. With total ownership of the platform Musk will have the power to transform Twitter and turn it into a platform that serves the societal imperative of having free uncensored speech.
