According to CNBC, billionaire Elon Musk has offered a seriously heavy bag to buy Twitter. The mogul is requesting to purchase the bluebird app for $54.20 a share as noted in a filing published this past Thursday. His motive? Musk believes that the company needs to be privatized immediately: “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,” he shared in a letter to Bret Taylor, Twitter’s official Chairman. Elon Musk, who requested the services of financial advisor Morgan Stanley to stake his claim, goes on to add that the social media company must go private to allow full freedom of speech which, in his observations, cannot be done in its current state.
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“As a result, I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced,” he noted in his letter to Bret Taylor. “My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder.” Evidently, Musk has big ideas, but will Twitter’s head honchos take him up on his offer? We expect more news on this in the future.