Elon Musk offered $43 billion for a full buyout of Twitter shares

Billionaire Elon Musk has made the" best and final "offer to buy back 100% of Twitter Inc.' s shares. This company, in his opinion, has extraordinary potential, and the businessman is allegedly the one who is able to unlock this potential, reports Bloomberg.

In particular, the richest person in the world is ready to offer $54.20 per share in cash. This is a 54% increase in the price as of January 28. Thus, the total value of the transaction can reach approximately 4 43 billion.

Against the background of this news, the social media company's shares rose by 18% in pre-market trading.

"I invested in Twitter because I believe in its potential to be a platform for free speech around the world, and I believe that freedom of speech is a public imperative for a functioning democracy. However, after making the investment, I understand that the company will neither thrive nor serve this public imperative in its current form. Twitter needs to be turned into a private company," Musk said.

At the same time, he stressed that this proposal is the best and final, and if it is not accepted, he "will need to reconsider his position as a shareholder."

"Twitter has extraordinary potential. I will unlock it, " the billionaire promised.

Musk, 50, who also controls Tesla Inc., first announced the acquisition of a stake in more than 9% of Twitter shares on April 4, 2022. Against the background of this news, shares of his Tesla fell by about 1.5% in pre-market trading.

The company offered him a seat on the board after announcing his stake, making him the largest individual shareholder. However, Musk refused a potential seat on the social network's board.

The billionaire is one of the most popular members of the platform, who often tweets various memes and jokes to more than 80 million of his followers. He spoke openly about the changes that he would like to introduce in social networks.

In particular, it has recently started reaching out to other users about future steps, from turning Twitter's San Francisco headquarters into a homeless shelter and adding a tweet Editing button to providing automatic confirmation tags to Premium Users.

In one tweet, he suggested that Twitter might die, given that a few celebrities with a large number of followers rarely tweet.

As the publication notes, Elon Musk is one of the few people who can afford a full takeover of such a large company. According to the Bloomberg Billionaire's Index, his net worth is now about.260 billion, while Twitter's market valuation is about Twitter 37 billion.

Recall that on February 26, Elon Musk announced the launch of Starlink in Ukraine and the provision of appropriate equipment for this purpose.