Elon Musk is leaving no stone unturned to take over his favorite social media platform, Twitter. According to reports, the world’s richest man has now made the last offer to buy Twitter Inc. Tesla’s CEO is ready to pay $43 billion for a full stake in the company. According to a filing with the US Securities and Exchange Commission on Thursday, the billionaire will spend $54.20 per share in cash, a 54 percent premium from its January 28 closing price.
“…I am offering to buy 100 percent of Twitter for $54.20 per share in cash, at a 54 percent premium the day before I begin investing in Twitter and a 38 percent premium the day before the public announcement of my investment,” he said. written. “My offer is my best and final offer and if it is not accepted, I will need to reconsider my position as a shareholder.”
With over 81 million followers, the Tesla boss is one of the most prominent faces on Twitter in recent times. Earlier this month, he revealed that he owns a 9 percent stake in the popular social media platform. Musk believes the company has extraordinary potential and will unlock it.
After this news, Twitter’s stock jumped 18 percent.
Musk and his millions of variations on Twitter
After becoming the biggest stakeholder on Twitter, Musk launched a poll asking users to vote on whether its San Francisco headquarters should be converted into a shelter for the homeless. The poll saw more than a million votes in less than 24 hours, with more than 90 percent saying yes.
The executive has been vocal about the changes he wants to see on the social media platform. Earlier in a separate poll, Musk asked whether the “W” should be removed from Twitter’s name, leaving two voting options, “Yes” and “Absolutely.”
He recently suggested several changes to the Twitter Blue premium subscription service, including lowering its price, banning advertising, and offering the option to pay in the cryptocurrency Dogecoin. In a Twitter post, Musk said users signing up for Twitter Blue should pay significantly less than the current $2.99 per month, and should get an authentication checkmark as well as the option to pay in the local currency.
Elon Musk will not join Twitter board, Twitter CEO says ‘there will be further distraction’
Twitter had earlier offered Musk a seat on the board but the celebrity CEO turned it down. Twitter’s chief executive informed the world on April 12 that the Tesla boss was not joining the board. “Elon’s appointment to the board was to officially take effect from 4/9, but Elon shared the same morning that he would no longer be joining the board. I believe it is for the best,” he wrote .
“I believe it is for the best. We always value the input of our shareholders, whether they are on our board or not. Elon is our largest shareholder and we are open to their input Will stay.”
“There will be distractions ahead but our goals and priorities will remain unchanged. The decisions we take and the way we execute are in our hands, not anyone else’s. Let’s remove the noise, and focus on the work and what we are creating,” Agarwal continued.
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