Tesla boss Elon Musk, who recently acquired a 9.2% stake in Twitter, has offered to buy the entire company for $ 54.20 per share and remove the company from Wall Street. In a letter sent Wednesday to U.S. Stock Market police officer Elon Musk notes that it is about “his best offer and final version” and threatens, in the event of a refusal, to “re-examine his position as a shareholder” in the interior. of social network.
Following this announcement, the Twitter action jumped 11.34% to $ 51.05 in e-commerce before the opening of Wall Street. Speaking in a letter to Twitter Chairman Bret Taylor, Elon Musk says he invested in the platform because of the huge role it plays in favoring “free dialogue on the planet” which is, according to him, “a social necessity of a functioning democracy.”
“However, as I made my investment, I realized that the company would not succeed and serve its social needs in its current state,” he said, proposing to delete Twitter. “I am committed to purchasing 100% of Twitter for $ 54.20 per cash share, a 54% charge from the day before my investment in Twitter starts and 38% from the day before my public announcement of my investment”, explains the billionaire.
The data provided by Elon Musk will value Twitter for $ 43.4 billion, against the nearly 37 billion currently. According to Forbes, Elon Musk’s personal fortune is around $ 274 billion, making him the richest man in the world. Elon Musk is very active on Twitter, where he has 81.6 million users.
In recent weeks, he has been critical of social media, proposing the addition of several features, such as the “edit” button, and questioning his clients about the dignity of freedom of expression. The comedy boss Tesla and SpaceX had previously joined the board of directors of Twitter, but Parag Agrawal general manager social network manager announced Monday that Elon Musk has finally given up.