Musk’s bid of $54.20 per share represents a 38 percent premium to Twitter’s closing price on April 1, which was the last trading day before Tesla CEO announced that he would invest more than 9 percent in the company.
Musk owns 73.5 million shares in Twitter, which indicates that the value of his stake in the company amounts to $2.9 billion. which is estimated at 2.25 percent.
Musk, a frequent Twitter user, has had more than 80 million followers on the site since joining in 2009.
However, Musk criticized the platform and its policies in recent times, and said that they undermine democracy by not adhering to the principles of freedom of expression.
Musk had announced in early April that he had acquired a 9.2 percent stake in the Twitter social networking platform, becoming the company’s largest shareholder.
In the document, which he sent to the SEC, he clarified that his participation is “passive”, meaning that he does not intend to influence major strategic decisions at Twitter.
Since announcing his acquisition of a stake in the network, Musk has not stopped provoking, according to what “AFP” indicated.
Musk published a poll on his account in which he asked Twitter users if they would like the network to add an “edit” button to correct any tweet after it has been published.
Approximately 4.4 million accounts participated in the vote, and nearly 73 percent of them answered “yes.”
The platform later announced that it is testing this feature that many users have been asking for for years.
In his provocative way, Musk wondered whether Twitter was on the verge of “death” due to the presence of many accounts with millions of followers, but they were not active.
The newspaper “Washington Post” reported that many employees expressed concern about Musk’s joining Twitter, especially considering that the values of this richest man in the world do not correspond to the professional culture of this social network.
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