- Elon Musk discusses buying Twitter (NYSE:TWTR) completely.
- Musk shares his thoughts about Twitter going private.
- Twitter also comments on the latest update.
Elon Musk, the CEO of Tesla (NASDAQ:TSLA) and the biggest shareholder of Twitter, discusses taking over Twitter for $43 billion. This happened after the well-known businessman bought 9.2% shares of the social media giant.
Musk tweeted on April 15, asking for opinions about taking Twitter private. Soon after, news came up about him stating, “Twitter needs to be transformed as a private company,” according to a YouTube video made by New Money.
As Musk stated, his offer of $54.20-a-share is his “final and best.” He also reiterated to Bret Taylor, Twitter Chairman, that he will not budge on the price. He also stated that he doesn’t trust the Twitter board management.
If the deal doesn’t work, given that I don’t have confidence in management nor do I believe I can drive the necessary change in the public market, I would need to reconsider my position as a shareholder.
The history of Musk’s series of decisions in this matter goes back to March 25, when he shared a post on Twitter, asking his followers if they think Twitter supports freedom of speech. A number of 70.4% answered “No.”
After that, Musk started with his first move when he became the largest shareholder of Twitter with a 9.2% stake to enable him to suggest changes to the management of the social media platform. He discussed many of Twitter’s features, yet his share did not allow him to make changes.
Now, as Musk has made a major offer and while Twitter’s management is actually considering this offer, it seems like Musk is only one step away from giving his followers what they want.