Elon Musk, the CEO of Tesla, has made an offer to buy Twitter, claiming that he is the best person to “unlock” the social media platform’s “amazing potential.”
Musk made the stunning revelation that he would pay $54.20 per share for Twitter, valuing the company at $41 billion dollars.
Musk was recently revealed to be Twitter’s largest shareholder after amassing a sizable stake in the company.
“I would need to reevaluate my position as a shareholder,” he stated if his offer was not accepted.
“I invested in Twitter because I believe in its potential to be the venue for free speech around the globe, and I believe free speech is a societal requirement for a functional society,” Mr Musk stated in a filing with the US financial regulator.
“However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.”
“Twitter has extraordinary potential. I will unlock it,” he added.
Musk was granted a position on Twitter’s board of directors after it was revealed that he owned a 9.2 per cent investment in the company. Last weekend was supposed to be the start of Mr Musk’s new job, but he opted not to take it. Twitter’s CEO, Parag Agrawal, said on Twitter that Musk’s choice not to join the board of directors was “for the best.”
“We have and will always value input from our shareholders whether they are on our board or not. Elon is our biggest shareholder and we will remain open to his input,” he added.
“There will be distractions ahead,” he cautioned the crew.
Musk responded with a cryptic tweet of a smiling emoji with its palm over its mouth.
(Adapted from BBC.com)