Elon Musk made the “last and best” offer to buy Twitter Inc. According to him, the company has extraordinary potential, and he is the person who is going to unlock it. The world’s richest man is offering $54.20 in cash per share, which is 54% more than the closing price on January 28. The total amount will thus be about $43 billion.
Musk announced his proposal after giving up a potential seat on the company’s board of directors. We will remind, on April 4 the billionaire purchased 9.2% of Twitter shares, which made him the main shareholder.
This bet is the last stage in the shaky relationship of Mask with the social network. He is one of its most popular members, often publishing memes and jokes for his 80 million subscribers. Musk also spoke openly about the changes he wanted to make to the platform, so the company offered him a seat on the board after announcing his stake.
After April 4, the entrepreneur began addressing users, discussing the following steps: from turning Twitter headquarters into a homeless shelter and adding an edit button to automatic verification signs for premium users.
Now, dissatisfied with his influence on Twitter as the largest investor, Musk plans to take full control of the company. According to him, Twitter should become private. At the same time, the entrepreneur is one of the few who can afford it. His fortune is about $260 billion, according to the Bloomberg Billionaire’s Index.