Business & Economy

BREAKING: Elon Musk Offers $43 Billion To Take Total Control Of Twitter

FILE PHOTO: Tesla CEO Elon Musk gestures as he visits the construction site of Tesla's Gigafactory in Gruenheide near Berlin, Germany, August 13, 2021. Patrick Pleul/Pool via Reuters/File Photo

The world’s richest man ever and the Chief Executive Officer of Tesla, Elon Musk, has offered to buy the popular micro-blogging and social media platform, Twitter, for $43 billion.

BrandNewsDay reports that Musk made this disclosure in a filing with the U.S. Securities and Exchange Commission (SEC) on Thursday.

The billionaire will offer 54.20 per share in cash, representing a 54% premium over the January 28 closing price and a value of about $43 billion.]

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In a letter to Twitter’s board, Musk said he believes Twitter “will neither thrive nor serve [its free speech] societal imperative in its current form. Twitter needs to be transformed as a private company.”

Musk had first disclosed a stake of about 9% on April 4.

What You Should Know About Twitter Elon Musk Offers $43 Billion To Take Total Control Of Twitter

On March 24, the 50-year-old ran a poll asking whether or not Twitter’s algorithm should be open source.

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Musk later asked whether or not Twitter rigorously adheres to the principle of free speech.

After the majority replied ‘no’, Musk asked whether a new networking site was needed, disclosing he was considering starting his own.

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