KATHMANDU, April 14: Billionaire and Tesla CEO Elon Musk has offered to buy all of the shares of Twitter, take the company private.
International media reports said Elon Must wants to build Twitter into a platform for “free speech. This comes days after the billionaire purchased around 9% of the company and then turned down an offer to join its board.
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According to a filing made to the US Securities and Exchange Commission Wednesday, Musk has offered to buy 100% of Twitter at $54.20 per share in an all cash transaction and then take it private. Musk noted that he believes in Twitter’s potential to become a free speech platform and serve a key “societal imperative,” reported Forbes report.
The Tesla CEO said he is making the current offer after realizing that the company will “neither thrive nor serve this societal imperative in its current form,” arguing that it needs to be taken private.
Musk added that his offer of $54.20 per share is his “best and final offer” and if it is not accepted he will need to “reconsider” his position as the company’s largest shareholder.
The price of Twitter’s stock stood at around $51.41 during pre-market trade early on Thursday. Elon Musk’s personal net worth is $265 billion.
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