Entrepreneur, investor, and most notably considered to be the richest man in the world, Elon Musk, has officially offered to purchase the social media giant known as Twitter. Musk has made various offers in the past to acquire the multi-billion dollar platform, however, has never received a direct acceptance or decline. Making his offer public to the world earlier this past week, the Tesla Motors CEO proposed a full $43 billion buyout to the co-founder and current CEO of Twitter, Jack Dorsey: This specific proposition is the equivalent to approximately $52.20 per share.
Musk previously wrote an email to the chairman of Twitter, Bret Taylor, regarding his opinions on the current state of the application, along with his official buyout offer. “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 continued, “As a result, I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced… My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder.”