Skip to main content

Elon Musk offers to buy Twitter for huge amount of money

Elon Musk has offered to buy Twitter for $43 billion.

In a filing with the U.S. Securities and Exchange Commission (SEC), the boss of Tesla and SpaceX described his move as a “best and final offer,” adding that the platform has “extraordinary potential” that he would be able to unlock.

“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 wrote in a letter to Twitter chairman Bret Taylor that was disclosed in the filing.

Musk, who has 81 million followers on the platform, said in the letter he believes the company should go private because in its current form it can neither thrive nor serve free speech.

He added: “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.”

Musk said this was his “best and final offer” and that if it is not accepted, he will need to reconsider his position as a shareholder.

Musk is said to be worth around $230 billion, so the acquisition offer is certainly a realistic possibility. But he can also be unpredictable, so could just as easily abandon the proposal if he suddenly loses interest.

Early on Thursday morning, he confirmed his move on the company, writing in a tweet, “I made an offer,” and including a link to the filing.

I made an offer https://t.co/VvreuPMeLu

— Elon Musk (@elonmusk) April 14, 2022

A frequent critic of the platform, Musk earlier this month acquired a 9.2% stake in the company, making him Twitter’s single largest shareholder.

Following news of the stock purchase last week, Twitter offered him a seat on the company’s board. At first, he agreed to take it but then declined at the last minute. He also spent last weekend posting a series of now-deleted tweets listing various changes he’d like to see at Twitter, from the serious to the absurd. They included turning Twitter’s San Francisco headquarters into a homeless shelter and adding a long-called-for edit button for tweets. He also suggested adding a verification mark for users who sign up to Twitter Blue, the platform’s subscription service.

On Tuesday it emerged that a Twitter investor was suing Musk, accusing the billionaire entrepreneur of costing shareholders money while Musk himself saved around $143 million, as he reportedly failed to notify the SEC of the purchase in the required time frame.

Editors' Recommendations

A beginner’s guide to Tor: How to navigate the underground internet
A person using a laptop at a desk.

While the internet has dramatically expanded the ability to share knowledge, it has also made issues of privacy more complicated. Many people are justifiably worried about their personal information being stolen or viewed, including bank records, credit card info, and browser or login history.

If you're looking for more privacy while browsing, Tor is a good way to do that, as it is software that allows users to browse the web anonymously. It should be noted that Tor can be used to access illegal content on the dark web, and Digital Trends does not condone or encourage this behavior.
Why does Tor exist?
In this climate of data gathering and privacy concerns, the Tor browser has become the subject of discussion and notoriety. Like many underground phenomena on the internet, it is poorly understood and shrouded in the sort of technological mysticism that people often ascribe to things like hacking or Bitcoin.

Read more
No surprise — graphics cards have gotten twice as expensive since 2020
Nvidia GeForce RTX 4090 GPU.

The latest scoop on GPU prices paints a pretty grim picture. It appears that the average prices of graphics cards have doubled between 2020 and 2023, and they show no signs of stopping.

We all knew that GPUs are on the expensive side, but did anyone really expect that the prices had skyrocketed so much? More importantly, when will it end?

Read more
Presidents Day Sales 2023: Tracking the deals as they start

The holiday sales are over and the new year has arrived, so if you're looking forward to the next big retail event, then the 2023 Presidents Day sales are your best bet. This is one of the few major holidays to land in the first quarter of the year, with Presidents Day deals covering everything from electronics to home essentials. Whether Santa didn't bring you one of the gifts you wanted or you still have some Christmas money burning a hole in your wallet, then now's the time to start readying your shopping list for the upcoming Presidents Day sales -- and we're tracking the best deals as they emerge, starting today.
Presidents Day sales that have already started

Amazon: Savings across a variety of different categories, including laptops.
Casper: Save up to $940 on select mattresses and up to 60% on bedding.
Dell: Massive discounts on laptops, monitors, and smart home.
Dyson: As much as $200 off Dyson vacuum cleaners and fans.
Home Depot: 30% off select mattresses and bedroom furniture.
HP: Up to 55% off laptops, monitors, and printers.
Leesa: Price cuts of up to $375 on best-selling mattresses.
Lowe’s: Up to 40% off appliances like refrigerators and washer-dryers.
Nectar: Discounts and $300 worth of free goodies with every mattress.
Overstock: An extra 15% off select bedroom and living room furniture.
Staples: 40% off chairs and furniture, including filing cabinets and desks.
Target: Up to 25% off home decor, including furniture and lighting.
Tempur-Pedic: Save up to $500 on select mattress sets.
Tuft & Needle: 10% off sitewide and up to 15% off mattresses.

Read more