Published , by Donovan Erskine
Published , by Donovan Erskine
Elon Musk has been a vocal critic of Twitter for a while now, often complaining that the platform doesn’t support free speech. It’s what motivated him to purchase a 9.2 percent stake in the company, scoring himself a spot on the board of directors. After backing out and deciding not to join the board, Elon Musk has now offered to buy Twitter in its entirety for $43 billion.
Elon Musk himself announced that he had submitted an offer to buy Twitter. In his official filing to the SEC, we see all of the details of the proposed offer.
In the filing, Musk also expresses the need for Twitter to go private in order to go through the changes he finds necessary. He also states that if his offer is not accepted, he’ll have to “reconsider my position as a shareholder,” implying that he’ll sell off the hefty 9.2 percent of shares he purchased earlier this month.
Elon Musk offering to buy Twitter altogether is an unexpected twist in what has been a peculiar saga between the billionaire and the social media platform. As we await Twitter’s response to the offer, stick with us on Shacknews.