A couple of days ago it was revealed that Elon Musk, CEO of Tesla and SpaceX, acquired 9.2% of Twitter. This has given rise to a series of speculations about the future of this social network, which have become a reality. Through a statement, Musk has launched an offer, stating that he wants to buy Twitter for $43 billion.
This proposal was published on the official account of the millionaire on Twitter, where he stated that is willing to buy the social network for $54.20 dollars per share, that is, 54% more than the value that the company registered on January 28 of this year, and an increase of 38% from what was seen on April 1. This was what was said about it:
“I invested in Twitter believing in the potential of the platform as a vehicle for freedom of expression around the world. And I believe that freedom of expression is a social imperative for a healthy democracy.
But, since I made my investment, I have understood that the company is not going to prosper or fulfill its social function in its current state. Twitter needs to delist and become a private company.
As a result, I am offering to buy 100% of Twitter for $54.20 per share. 54% more than the value of the share when I started investing and 38% more than the value on the day my investment was publicly announced. My offer is the best I can make and it is final. If it is not accepted, I will have to reconsider my position as a shareholder.
Twitter has extraordinary potential and I’m going to unlock it.”
I made an offer https://t.co/VvreuPMeLu
— Elon Musk (@elonmusk) April 14, 2022
In response to this move, Twitter shares have increased by 13%. However, this has also affected Tesla shares, which fell 1.5%, as investors believe its focus on the social network could distract from its other businesses.
In accordance with Bloomberg, Elon Musk has approximately $2.9 billion in cash. In this way, it has been pointed out that to buy Twitter, the manager needs to sell a significant portion of Tesla stock, or take out a very large loan.
At the moment there is no official response from Twitter in this regard. In case of rejecting this proposal, Elon plans to “reconsider his position as a shareholder.” In related topics, here you can learn more about Musk’s participation in this company. Similarly, Twitter itself is working on a function to edit tweets.
Editor’s note:
While there is a part of me that wants to see what will happen to Twitter under Elon Musk, the social network is doing pretty well right now, and there isn’t much that needs significant changes.
Via: Elon Musk
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