Tesla CEO Elon Musk has offered to buy all of Twitter for $41.39 billion days after reversing his decision to join the company’s board of directors.
On Thursday morning, the 50-year-old billionaire shared a regulatory filing claiming his offer to “buy 100% of Twitter” for $54.50 per share, “in cash.” He says that’s a 54% premium over the day before he began investing in the social media platform.
“My offer is my best and final offer,” he says in a message to Twitter CEO Bret Taylor. “If it is not accepted, I would need to reconsider my position as a shareholder.”
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Musk says he initially invested in Twitter because he believes “in its potential to be the platform for free speech around the globe” and says he believes “free speech is a societal imperative for a functioning democracy.”
I made an offer https://t.co/VvreuPMeLu
— Elon Musk (@elonmusk) April 14, 2022
The SpaceX CEO says since making his investment, he realizes the company will “neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.”
Since joining the platform in 2009, Musk has amassed more than 80 million followers and has used the platform to make several announcements about Tesla, SpaceX, and cryptocurrency.
He was also sued by former Twitter shareholders this month, who claim they missed out on the company’s increase in stock price because Musk waited too long to disclose his stake.
“Twitter has extraordinary potential,” he concluded in his message. “I will unlock it.”
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