(LifeSiteNews) – Elon Musk, the world’s richest man, has made an offer to buy 100 percent of Twitter.
Musk is willing to pay $54.20/share, which would amount to a more than $40 billion purchase.
He posted a cryptic tweet just after 7:00 on Thursday, sharing a link to his offer through the U.S. Securities and Exchange Commission (SEC).
I made an offer https://t.co/VvreuPMeLu
— Elon Musk (@elonmusk) April 14, 2022
Bloomberg News reported that Musk offered to “acquire all of the outstanding Common Stock of the Issuer not owned by the Reporting Person for all cash consideration valuing the Common Stock at $54.20 per share.”
The SEC filing included a copy of a note Musk wrote to Twitter Chairman of the Board Bret Taylor where he explained his reasons for the move.
“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,” he wrote.
“However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company… Twitter has extraordinary potential. I will unlock it.”
Musk is the largest share holder in the company and his offer “to buy 100% of Twitter” follows an April 11 report that Musk was not joining the Board.
He also wrote in his SEC filing that the $40 billion offer is his “best and final offer, and if it is not accepted [he] would need to reconsider [his] position as a shareholder.”
Elon Musk said if his offer to buy Twitter was rejected, he’d reconsider his position as the company’s largest shareholder, citing concerns over the platform’s current leadership.https://t.co/ditITWYv7F pic.twitter.com/uggeamfcGF
— The New York Times (@nytimes) April 14, 2022
Liberals have expressed dismay over Musk’s involvement in Twitter because of his commitment to freedom of speech. They have expressed concerns that he would reinstate former President Donald Trump and allow dissenting voices to flourish on the platform.
Musk was born in Pretoria, South Africa, to which conservative commentator Matt Walsh alluded when he joked on Twitter about the billionaire’s Big Tech move:
If Elon Musk buys Twitter, he will be the first African American to own a major social media platform. This is a great day for diversity. Another glass ceiling shattered!
— Dr. Matt Walsh, Women’s Studies Scholar (@MattWalshBlog) April 14, 2022
So far it is not certain if the offer will be accepted. However, Twitter has released a statement saying: “The Twitter Board of Directors 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.”