Elon Musk Offers to Buy All of Twitter

[MacRumors]

Elon Musk, founder and CEO of Tesla, has offered to purchase all of Twitter for $54.20 per share, valuing the company at $43 billion, in a letter to the social media company's chairman of the board, Bret Taylor.

In a letter filed with the SEC, Musk says that following his purchase of 9.1% of the company earlier in the month, he is "offering to buy 100% of Twitter for $54.20 per share in cash." Musk purchased nearly 10% of the social media giant and was set to become a member of its board, but due to unknown reasons, Musk pulled out.

Musk in the letter goes on to state that Twitter has "extraordinary potential" that he will unlock. Since making his earlier investment in the company, Musk wrote that he has realized "the company will neither thrive nor serve this societal imperative in its current form," adding "Twitter needs to be transformed as a private company."

"My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder," Musk concludes. Musk in the last several months has been a vocal critic of Twitter on the platform, calling into question its policies and at one point seemingly contemplating whether a new, competing social media platform would need to be made.

Update: In a statement, Twitter has confirmed it has received Musk's offer and will "carefully review the proposal to determine the course of action that it believes is in the best interest of the Company and all Twitter stockholders."

Article Link: Elon Musk Offers to Buy All of Twitter

 

[Bug-Creator]

So "either you let me kill Twitter or I will try to kill Twitter by other means".

Won't make a difference one way or the other.

 

[n0va]

Unpopular opinion but this is not good

 

[vagos]

OMG the lengths someone will go for a twitter ad-free experience .

 

[JustSomebody12]

I can't bear Elon.

Just can't.

 

[Apple Knowledge Navigator]

Well, I’d rather him than Zuck.

 

[jeffpeng]

Unpopular opinion but this is not good

Is it? (An unpopular opinion)

 

[DFZD]

For the good of mankind Twitter needs to be shut down. A lot of idiots pretending as intellectuals shape public opinion to divide our societies.

 

[jeffpeng]

Yup, here we go ?

 

[Lioness~]

Can be interesting to see how he will change Twitter. Not that I use it much.
Twitter is mostly filled with power hungry stupid 'childs' ranting sh*** with very few exceptions.
But I actually follow Elon. I think he's fun and sometimes really brilliant and not abusing it as most people do.
Welcoming this change.

 

[videosoul]

For the good of mankind Twitter needs to be shut down. A lot of idiots pretending as intellectuals shape public opinion to divide our societies.

Equally, there are a lot of idiots spreading dangerous misinformation, lies, fake news, hatred all in “non-intellectual (or even pseudo-intellectual)” ways.

 

[Kissmo1980]

I look at the East, I see horror.
I look towards the West, and I see this...
Then I look at my children and I feel powerless to help and I feel so sorry for the world they will have to live in.

The most insane and ridiculously useless issues of humanity since the beginning of times, repeat in new & old manners.
There are times when you realize the internet was growing too fast.

 

[DevSehgal]

Elon Musk, founder and CEO of Tesla, has offered to purchase all of Twitter for $54.20 per share, valuing the company at $43 billion, in a letter to the social media company's chairman of the board, Bret Taylor.

In a letter filed with the SEC, Musk says that following his purchase of 9.1% of the company earlier in the month, he is "offering to buy 100% of Twitter for $54.20 per share in cash." Musk purchased nearly 10% of the social media giant and was set to become a member of its board, but due to unknown reasons, Musk pulled out.

Musk in the letter goes on to state that Twitter has "extraordinary potential" that he will unlock. Since making his earlier investment in the company, Musk wrote that he has realized "the company will neither thrive nor serve this societal imperative in its current form," adding "Twitter needs to be transformed as a private company."

"My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder," Musk concludes. Musk in the last several months has been a vocal critic of Twitter on the platform, calling into question its policies and at one point seemingly contemplating whether a new, competing social media platform would need to be made.

Article Link: Elon Musk Offers to Buy All of Twitter

I think he pulled out the board as a member of the board cannot purchase more than a certain amount. This is due to power control among board members; musk won't be able to purchase more if he joined.

 

[flippin360]

Reminded me of this bully offer:

https://twitter.com/x/status/1456763372116971523

 

[jumanji]

A rich baby throwing a tantrum. Ridiculous.

 

[anakin44011]

Maybe, just maybe...we've finally hit the point of 'Peak Elon'

Unless he finds a way to exit some of this ego-maniacal ********* gracefully, history won't be kind to him.

Bill Gates almost...ALMOST...pulled it off. Elon is sitting on a much higher perch.

Visionary or not...the man needs people in his life telling him "no".

 

[bgarnett]

I hope Elon does take it over and overhaul things. Their approach towards third party apps is adversarial, rather than embracing vendors who support their platform they limit and restrict them.

It’d actually be nice to see something entirely new that not only competes with but also offers an alternative to Facebook too as how many wouldn’t jump at that option.

 

[DelayedGratificationGene]

Ya keep taking your eye off the ball and watch Apple Car run your Tesla company right off the track and there goes your billions Sir.

 

[rictus007]

All for free speech? Can we go public about issues with Tesla and non-disclosure agreements?

 

[Dan From Canada]

Twitter like Facebook will be run by nutty people.
Another reason NOT to use either.

 

[DFZD]

Equally, there are a lot of idiots spreading dangerous misinformation, lies, fake news, hatred all in “non-intellectual (or even pseudo-intellectual)” ways.

The rare times when I log into Twitter to see an important update from a company or brand, I always end up getting exposed to dangerous levels of toxicity and stupidity. So my personal opinion is to shut most social media sites down. Let people have conversations in their private family, work or interest groups.

 

[Dan From Canada]

I hope Elon does take it over and overhaul things. Their approach towards third party apps is adversarial, rather than embracing vendors who support their platform they limit and restrict them.

It’d actually be nice to see something entirely new that not only competes with but also offers an alternative to Facebook too as how many wouldn’t jump at that option.

Because Tesla is run that way? Yeah, sure.

 

[GalileoSeven]

Good. Take care of Twitter and then hit Facebook next (the Elon vs Zuck battle would be legendary)

 

[Kylo83]

I wish

 

[DrJR]

I look at the East, I see horror.
I look towards the West, and I see this...
Then I look at my children and I feel powerless to help and I feel so sorry for the world they will have to live in.

The most insane and ridiculously useless issues of humanity since the beginning of times, repeat in new & old manners.
There are times when you realize the internet was growing too fast.

I’ll take the west. I was born far before internet or cell phones. I was in high school when I had a moment of horror realizing all the idiots around me would some day run the show. Every day I’m grateful I didn’t have kids - yet these are still the greatest times to be alive, the most peaceful and opulent. That is soon changing.