Elon Musk Offers To Buy Twitter For $41.3B See Why 

Elon Musk, one of the richest billionaire in the world and the CEO of electric carmaker Tesla (TSLA), has made a cash bid to buy Twitter for $41.3 billion.

iexclusivenews reports that according to a filing with the US Securities and Exchange Commission.

The offer of $54.20 a share represents a 38 % premium over the stock’s price the day before Musk’s interest in the firm was made public earlier this month.

Elon Musk intends to take the firm private in order to “get through the changes that need to be made.”

According to a text message he sent to Twitter Chairman Bret Taylor, which was reproduced in the filing.

This online news outlet understands that Musk chastised the social media platform in late March for failing to adhere to free speech ideals.

Claiming that it functions as a “de facto public town square” and that this failure weakens democracy.

Given that Twitter serves as the de facto public town square, failing to adhere to free speech principles fundamentally undermines democracy.

What should be done? https://t.co/aPS9ycji37

— Elon Musk (@elonmusk) March 26, 2022

Musk stated, “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.” 

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What You Need To Know

Justin Sun, the Tron blockchain’s founder, tweeted a thread in which he stated that he would buy the firm for $60 per share, following Musk’s filing

I believe @Twitter is far from unleashing its full potential, thus I am offering $60 per share to take the platform private. But we fully support the reform initiatives of @elonmusk and would love to see Twitter becoming crypto-native and Web3 friendly.

— H.E. Justin Sun🌞🇬🇩🇩🇲🔥 (@justinsuntron) April 14, 2022

iexclusivenews reports that following the news, Twitter’s stock jumped more than 12% in premarket trade.

They were recently trading at slightly under $49, up approximately 6.4 percent.

Musk acquired a 9.2% in Twitter for an estimated $2.89 billion earlier this month.

Shortly after announcing his appointment to the company’s board of directors.

However, a few days later, CEO Parag Agrawal stated that a board post was no longer on the table.

Musk said, “My offer is my best and final offer, and if it is not accepted. I would need to reconsider my position as a shareholder,” according to the filing.

iexclusivenews Nigeria reports that because of Musk’s well-known involvement in the business. His announcements frequently produce waves in the crypto world.

Meanwhile, following news of Musk’s original Twitter investment, meme-based cryptocurrency dogecoin jumped 11%. And was up roughly 6% after Thursday’s news. The coin has gained 5% in the last 24 hours.

Twitter has established itself as a crypto-friendly platform. Allowing users to submit tips in bitcoin since September. And extending the service to ether in February.