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Elon Musk is interested in buying Twitter for $618 trillion

Chinarainbow.org – After buying Twitter shares, Tesla CEO Elon Musk is interested in buying the entire microblogging platform’s shares. The world’s richest man made the offer through the U.S. Securities and Exchange Commission (SEC).

Musk offered a price per share of 54.20 US dollars (approximately RP 750,000). According to CNBC, Musk’s total bid for 100 percent of Twitter’s shares is worth about $43 billion.

Twitter’s valuation itself is lower than Musk’s offer, which is about 37 billion U.S. dollars (Rp 517 trillion).

His interest in buying all of Twitter’s shares was also expressed through his personal Twitter account with a handle @elonmusk. In his tweet, Musk did not reveal his wishes, instead, he directly pinned a link that led to the SEC.

“I made an offer…,” Musk tweeted along with a link to the SEC archives.

 

In the april 14 bid, Musk said Twitter needed to be turned into a private company.

“I invested in Twitter because I believe in its potential to become a free speech platform around the world, and I believe freedom of speech is essential to democracy,” the Tesla CEO said in a letter to Twitter Chairman Bret Taylor.

Investors are not interested?

This offer has been confirmed by Twitter. However, the company has not yet decided whether to accept or reject it.

“Twitter’s board of directors will review the proposal to determine the decision best in the interests of the company and all Twitter investors,” the company said in a statement.

Reportedly, the two sides have met this morning (Friday, 15/4) US time. That said, shareholders aren’t interested in Musk’s offer.

“I’m not sure the offer put forward @elonmusk ($54.20) is close to intrinsic value given its growth prospects,” Talal wrote.

“As one of the largest and long-standing shareholders in Twitter, @Kingdom_KHC and I rejected this offer,” he continued, posting a screenshot of Talal’s tweet announcing his company was buying Twitter shares.

 

Seen from stampel upload time, the tweet was posted October 7, 2015 or about eight years ago. KHC or Kingdom Holding Company is a multinational investment company owned by Alwadeed.

Elon Musk’s ambitions for Twitter

Elon Musk is an active Twitter user with 80.5 million followers. Not long ago Musk bought shares of Twitter and became the largest “outside” investor.

As Twitter’s largest shareholder, Musk is expected to encourage Twitter to focus on free speech issues. Musk’s proposal to the SEC also mentions “speech” as his focus.

In his offer, Musk also hinted that he wants to change the way Twitter operates. For example by providing wider access to verified accounts or blue ticks for public figures, journalists, and people involved in news.

Twitter shares rise, Tesla falls

Since news of Musk intending to buy Twitter emerged, the social media’s stock price has crept up to more than 13 percent.

However, in same-day trading, Twitter’s stock price closed down 0.77 percent.

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