in Featured World News Elon Musk Offers to Buy 100 Percent of Twitter, Restore Free Speech
Allum Bokhari
Elon Musk has made a public offer to buy 100 percent of Twitter stock and transform it into a public company, in what the billionaire SpaceX and Tesla CEO says will unlock the company’s potential to be “the platform for free speech around the globe.”
Musk, who became Twitter’s largest shareholder with a 9.2 percent purchase of shares over the last few months, made a public offer to buy 100 percent of the company at $54.20 a share, an 18 percent premium over Twitter’s closing price yesterday.
At Musk’s quoted price, the proposed purchase of Twitter would come to $43 billion in total.
In his publicly disclosed communication to the chairman of Twitter’s board, which can be read in full here, Musk said promoting free speech around the world was the motivation behind his offer.
Musk said he did not believe Twitter could reach its potential for free speech as a publicly owned company, saying “Twitter needs to be transformed as a private company.”