World’s richest man, Elon Musk, makes final offer to buy Twitter

By Benjamin Flowers: Elon Musk, the richest man in the world according to Forbes, has man his final offer to purchase the social media giant Twitter, reports CNN.

Musk, who has now become the largest shareholder in Twitter, has offered to acquire all the shares he does not own at the moment for US$54.20 per share, 38 percent more than what a share was worth at closing on April 1.

Musk said that after he acquires all the shares, he would make the publicly traded, $43.4 billion company a private entity.

He also said that this is as high as he is prepared to go in terms of making an offer and that if Twitter did not accept, he would have to reconsider his position as a shareholder, adding some pressure on the 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,” Musk said in a letter he sent to Twitter.

“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.”

Musk revealed last week that he has been acquiring shares in Twitter since January and while he had initially accepted a position to sit on the board of directors he later declined as the position would cap his ability to acquire shares at 14.9 percent.

Twitter has not yet responded to Musk’s offer.

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