Billionaire Elon Musk has proposed buying Twitter for $43 billion and turning it into a private, unlisted company.
Elon Musk, the CEO of Tesla, wants to take full control of the social media platform.
I made an offer ” tweeted Thursday morning the billionaire. The attached document, dated Wednesday, outlines a plan for Musk to buy shares of Twitter he doesn’t yet own for $54.50 per share (about $43 billion in total) and make the company private. Musk wrote that this was his “last offer” and that, if not accepted, he “should reconsider my position as a shareholder.” Musk acquired 9.2% of Twitter this year and is currently its largest shareholder. A few days ago, the company announced that Musk would not join its board of directors, contrary to what the billionaire had told employees.
I invested in Twitter because I believe in its potential as a platform for free speech around the world. I think freedom of expression is a societal imperative for a functioning democracy,” he writes. However, since I made my investment, I now realize that the company will not be able to thrive or serve this societal imperative in its current form. Twitter needs to be turned into a private company. »
Twitter has gone to great lengths to rid the platform of hate speech and disinformation, including banning Donald Trump after the Jan. 6 attack on Capitol Hill.