Over the past 10 days, the American billionaire Elon Musk has gone from a famous contributor and critic on Twitter to the largest individual shareholder of the company and a potential owner of the social platform, occupying the stock market and social media platforms through his swift move and his latest surprise.
On Thursday, Musk offered to buy Twitter Inc for $43 billion. This means that he offered $ 54.20 per share, an increase of 38% from the closing price of Twitter shares on the first of April.
Speaking at the (TED 2022) conference hours after making the presentation, Musk made it clear that he is not sure that he will actually be able to obtain Twitter, and added, “Having a public platform that is maximally trusted and inclusive at scale is critical to the future of civilization.” “. Pointing out that he does not view the deal from economic aspects.
In early April, the billionaire founder of SpaceX and CEO of Tesla announced the purchase of a 9.2% stake in Twitter, becoming the largest shareholder of the social platform that he refused to join its board of directors. Given that its financial laws will prevent him from owning more than 14.9% of the company.
Only a few days passed after he refused to join the company’s board of directors, until he announced his intention to buy Twitter for $43 billion, announcing that this offer was “the best and last,” and stressing that he would reconsider his investment in Twitter if the board rejected his offer.
For his part, Saudi Prince Al-Waleed bin Talal, the second largest shareholder in the company with a stake that constitutes 5% of the company’s total shares, rejected Musk’s offer, saying: “I don’t think that the proposed offer from Elon Musk to buy Twitter for $ 54.2 a share comes close to the intrinsic value of the price given the prospects.” his growth.”
Will Masker free the blue bird from its cage?
In a letter he sent to Twitter’s board of directors, Musk wrote, “Twitter has extraordinary potential, and I will unleash it.” “Since I started my investment… I now realize that the company will not prosper in its current form. Twitter needs to go private.”
Musk, who uses Twitter a lot and has nearly 82 million followers, last month criticized the social media platform and its recent policies that undermine democracy and restrict freedom of expression. After conducting a Twitter poll in which 70% voted that Twitter does not abide by the principle of freedom of expression, Musk tweeted that he was “seriously considering” launching a new social networking platform.
According to “Forbes” magazine, Musk is the richest person in the world at the present time, with a net worth of about $ 265 billion (according to Friday’s data), and his spending of $ 43 billion to buy Twitter will not affect his fortune excessively.
What does Musk want from Twitter?
Elon Musk has been draped in the guise of an effective democracy and that he is someone who seeks to create an inclusive platform for freedom of expression that is not restricted by Twitter’s recent policies.
Musk said he wants to open up the “black box” of the AI technology that drives the Twitter feed so people can have more transparency about why some tweets go viral and others disappear. Emphasizing that it will allow the ability to know if something has been done to promote, demote, or otherwise influence a tweet.
In addition to the profits that Musk achieved from the rise in Twitter shares after revealing his intention to acquire the company, some see that Musk’s offer is nothing but an attempt to protect himself from Trump’s fate by banning him on the Twitter platform, which he considers his favorite media arm. In addition to obtaining greater guarantees that allow him to criticize the policies of Twitter and its board of directors.