Science & Technology

Elon Musk makes $41 billion cash offer to buy Twitter

New York, Apr 14 (EFE).- Tesla founder Elon Musk made on Thursday a $41 billion cash offer to buy Twitter, saying the social media platform needed to go private to “thrive”.

“Twitter has extraordinary potential. I will unlock it.” the billionaire, who is already Twitter’s largest shareholder, said.

Musk has offered Twitter $54.20 dollars per share in cash and said it was his final offer.

“Since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company,” Musk told Twitter in a letter Wednesday.

“As a result, I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced.

“My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder,” he said.

The billionaire recently acquired a 9.2% stake in the company, worth nearly $3 billion dollars.

Earlier this week, Musk rejected Twitter’s offer to join the board after disclosing his stake.

The billionaire has been critical of Twitter’s policies and recently ran a poll asking users to say if they believed it respected principles of freedom of speech. EFE


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