Elon Musk Makes an Offer Twitter Can’t Refuse

The world’s richest person, CEO of Tesla and Space X Elon Musk, is eyeing taking over social media giant Twitter. He is aiming to buy the company at $54.20 per share.

Musk Makes a Massive Bid to Buy Twitter

With the price Elon Musk is offering, Twitter will be worth $43.4 billion as a whole.

The multibillionaire is already the largest shareholder of Twitter, as he owns nine percent shares of the company.

According to Musk, this is his “best and final offer.”

As per the Securities and Exchange Commission (SECP), it marks a 54 percent increase in the share price compared to late January, when the billionaire started planning to invest in the company.

Musk also claimed he had no confidence in management and if his offer was rejected, he would need to reconsider his position as a shareholder in the company. 

Musk announced leaving the shares in the case of not getting the whole company is not a threat. He asserted as long as he is not in an absolute position to make changes to the platform, buying just some of the shares is not a good investment.

This puts Twitter at a critical juncture; not selling the company to Musk can result in the billionaire dropping all the shares of the company. Eventually, this could be a massive loss for the social media giant.

In his letter on April 13 to the Twitter chair, Musk claimed the platform has “extraordinary potential,” which he will tap after buying it.

This announcement of Musk was apparently good news for Twitter; the shares of the platform rose by 11 percent on Wednesday after the letter made headlines.

Musk Made an Offer Twitter Can’t Deny

Earlier this month, Musk bought 9.2 percent shares of Twitter; then, the platform announced he would join its board of directors. However, he rejected that offer later on. 

The letter written by Musk states he believes in the potential of the platform to encourage free speech, which is an “imperative” of a functional democracy.

Though in its current form, Twitter is highly unlikely to utilize its potential for free speech. It will not thrive for the betterment of democracy, the letter added. So, the company needs to be established as a private entity.

Since Musk invested in Twitter for the first time on April 1, the shares of the platform have been increased by 16 percent.

Elon Musk already believes he made the best offer for Twitter, as he has been seeking new opportunities in recent weeks. Musk stated he would move straight to the end and not play a “back-and-forth game.”

If Musk manages to seal the deal, Twitter will yet be another company in his portfolio, alongside Space X and Tesla.

Due to his innovative approach, he is likely to add new features to the platform in order to get the most out of the purchase.