By: Bradley Jager
Elon Musk offers to buy Twitter for a total of $43 billion. That’s $54.20 per share in the company. “I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy,” said Musk in a letter sent to Twitter chairman Bret Taylor. “Twitter has extraordinary potential. I will unlock it.” The Twitter board is meeting at 10 AM ET to discuss the offer, although it is unclear whether a decision will be reached anytime soon.
After the offer was made public, Twitter shares jumped up 13% in just a few short days thanks to Musk’s overwhelming popularity and support. However, SpaceX and Tesla’s shares also dropped by 1.5% with many people worried that Musk would be distracted by his new pet. Musk is still the company’s largest shareholder giving him a major bargaining chip over the current Twitter board.
Musk’s vision for Twitter includes less regulation and “censorship” on the platform.