Elon Musk offers to buy Twitter for $43 billions and take it Private – MyGeeksGuide
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Elon Musk offers to buy Twitter for $43 billions and take it Private

Elon Musk has offered to buy Twitter for $54.20 per share, or $43 billion, in a filing with the US Securities and Exchange Commission, just over a week after revealing a 9.2 percent investment in the social media business.

“I invested in Twitter because I believe it has the potential to be a global platform for free speech, and I believe free speech is a societal requirement for a functioning democracy,” Musk wrote in an email to Twitter Chairman Bret Taylor.

“Twitter needs to go private because it can neither survive nor serve free expression in its current status,” says Musk, who is worth $273.6 billion.

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“The Twitter Board of Directors will carefully analyze the proposal to determine the course of action that it feels is in the best interest of the Firm and all Twitter investors,” the company said in a statement on Thursday in response to the offer.

Elon Musk said on April 4 that he had purchased a 9.2 percent interest in Twitter, making him the company’s largest shareholder. As a board member, Musk, on the other hand, would not be permitted to control more than 14.9 percent of the firm.

Then, according to Twitter CEO Parag Agrawal, Musk notified the firm that he would not be joining its board of directors. Since then, there’s been a lot of conjecture about Elon Musk next move.

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However, during a Q&A session at TED 2022 about his bid to buy Twitter, Musk stated that he believes Twitter should open-source its algorithm so that “no behind-the-scenes manipulation” occurs.

Elon Musk said in his 2022 TED Talk that if the board of Twitter does not accept his offer, he has a backup plan.

Author Moses

Authormoses the CEO and Chief Editor of MyGeeksGuide. Our Team are Striving hard to bring you with Reliable Information around the Technology World. (Tech & Gadgets) Follow Us on Social Media.

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