Elon Musk wants to buy Twitter for $43 billion – POLITICO

Elon Musk announced a $43 billion takeover bid for Twitter on Thursday, having already acquired a sizable stake in the social media company.

in one Explanation to the US Securities and Exchange Commission, the South African-born billionaire and The CEO of Tesla and SpaceX said he believes in Twitter’s “potential to be the platform for free speech around the world,” but since his initial investment in the company in early March, he’s realized it’s falling short of that goal could current structure.

“Twitter needs to be turned private,” he said, adding that his $54.20 per share bid for Twitter was his “best and final offer.”

Shares of the social media company are up more than 10 percent in premarket trading on Thursday.

Musk has been a vocal advocate for more freedom of speech, particularly on social media. However, its potential acquisition of Twitter comes as the social media platform faces increased scrutiny on how it monitors online content, including upcoming regulations in the European Union known as Digital Services Act and how the company banned former Donald Trump from the network in connection with statements he made regarding the riots on Capitol Hill on January 6 in Washington, DC

“Twitter’s board of directors will carefully review the proposal to determine what course of action it believes is in the best interests of the company and all Twitter shareholders,” the company said called in an opinion.

This article has been updated.


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