Tesla founder and CEO Elon Musk offered to buy Twitter for $54.20 per share, valued at $43 billion, in a letter to the social media company’s chairman of the board, Brett Taylor.
one in letter submitted With the SEC, Musk says that after buying 9.1% of the company earlier this month, he is offering to buy “100% of Twitter for $54.20 per share in cash.” Musk bought about 10% of the social media giant and was set to become a member of its board, but for unknown reasons, Musk backed out.
Musk said in the letter that Twitter has “extraordinary potential” that it will unlock. Since making his previous investment in the company, Musk has written that he has realized that “the company in its current form will not enrich or fulfill this social imperative,” and added that “Twitter should be turned into a private company. “
“My offer is my best and last offer and if it is not accepted, I will have to reconsider my position as a shareholder,” Musk concluded. In recent months, Musk has openly criticized Twitter on the platform, questioning its policies and, at one point, apparently considering whether creating a new competitive social media platform would be necessary.