Elon Musk has made a big offer to Twitter just days after refusing to join the company’s board of directors. The billionaire wants to buy the microblogging service for almost $43 billion and become its owner. Musk has proposed $54.20 per share in cash, which is a 54 percent premium to the January 28 closing price and a 38 percent premium to the April 1 closing price.
Analysts warn that any attempts to “modify” Twitter may easily lead to these concerns “spiraling out of control,” as the line between free speech and hate speech and misinformation has grown increasingly muddy on the network. ” Analysts argue that although social media companies have struggled to curb misinformation and hate speech, Musk, whose tweets can lead to online bullies swarming his detractors, does not appear concerned on content moderation.
Elon Musk delivered a TED Talk interview after offering to buy Twitter for $40 billion, calling for more transparency in Twitter’s algorithm. Improved public trust in the site, according to Musk, is “extremely important to the future of civilisation.”
Earlier today he tweeted,
Taking Twitter private at $54.20 should be up to shareholders, not the board
— Elon Musk (@elonmusk) April 14, 2022
According to a recent SEC filing, Elon Musk has been replaced as Twitter’s top shareholder by Vanguard Group. In comparison to Musk’s 9.2 percent holding, the corporation currently controls a 10.3 percent share. Previously, Vanguard Group was the company’s second-largest stakeholder, with an 8.39 percent interest worth over $2.5 billion.
While admitting that he will not be able to acquire Twitter, Musk stated that he had a “Plan B” in place in the event that things do not go as planned.Twitter’s stock price ended the day at $45.08, down 1.68 percent.
Twitter’s stock price ended the day at $45.08, down 1.68 percent from its April 14 high. The microblogging site had ended at $45.85 the day before. Elon Musk had offered $54.20 per share on the same day.
Elon Musk stated on Thursday that if the board of directors of Twitter rejects his $43 billion buyout offer, he has a “Plan B” ready. Tesla’s wealthy CEO, Elon Musk, revealed at the TED 2022 conference in Vancouver that he has “sufficient assets” and can “technically afford” to buy Twitter. Musk’s comments were in response to TED’s lead curator Chris Anderson, who asked if there was a backup plan in case the tech giant didn’t want to pay more for Twitter than the bid amount.
“There is…” After a long pause, Musk responded bluntly, declining to go into more detail. When Anderson asked Musk about the possibility of a “Plan B,”