Musk Wants to Fully Acquire Twitter and Offers $43 Billion for It

It seems that the story about Elon Musk’s ownership stake in Twitter is not over yet, as Musk has made an offer to purchase 100 percent of Twitter’s shares. According to Techcrunch, the billionaire is willing to pay $54.20 per share of the social network, which would total $43.4 billion for a complete acquisition.

Musk stated in a message to Bret Taylor, the chairman of Twitter, that his investment in the company was motivated by the belief that Twitter is a platform that enables freedom of speech and that freedom of speech is a social imperative for democracy. However, he noted that he now wants to buy the entire network because ‘the company in its current form will neither progress nor serve the social imperative,’ and this can only happen if it is privately owned.

– As a result, I am offering a 100 percent purchase of Twitter for $54.20 per share, which is 54 percent more than the stock was worth the day before I started investing in Twitter and 38 percent more compared to the day before my investment was publicly announced. This is my best and final offer, and if it is not accepted, I would have to reconsider my position as a shareholder – Musk stated.

The statements from the message were also presented as a report to the financial regulator, Techcrunch reports.

Thoughtful Rejection of the Board

Let us recall that Twitter confirmed on April 4 that Musk had acquired a significant stake in the social network’s shares and that by purchasing 9.2 percent of the company, he became Twitter’s largest shareholder. The next day, the company announced that the billionaire would join the company’s Board of Directors, but this did not happen as Musk declined the offer.

After Musk declined the position on the Board of Directors, speculation about potential reasons began, one of which was the fact that as a board member, Musk would not be allowed to own more than 14.9 percent of the company. This led many to suggest that Musk would move to acquire the entire company. 

By the way, Musk, who is currently the richest person in the world, is valued at $273.6 billion according to Forbes, and acquiring Twitter would represent a significant investment for him.