Elon Musk

Musk's offer comes after the Tesla and SpaceX CEO became Twitter's largest shareholder. Musk says he will unlock Twitter's potential.

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South African-born billionaire Elon Musk has offered to buy Twitter for about $41 billion, just days after rejecting a seat on the social media company's ...

Earlier this week, Musk said he had abandoned a plan to join Twitter's board, just as his tenure was about to start. "Since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company," Musk said in a letter to Twitter Chairman Bret Taylor.

Musk — Twitter's largest shareholder — offered to buy the remaining shares in the company for more than $43 billion, calling it his final offer. Newsy.

The offer price also includes the number 420, widely recognized as a coded reference to marijuana. The takeover is unlikely to be a drawn out process. He also picked $420 as the share price for possibly taking Tesla private in 2018, a move that brought him scrutiny from the SEC. Twitter needs to be transformed as a private company” The executive is one of Twitter’s most-watched firebrands, often tweeting out memes and taunts to @elonmusk’s more than 80 million followers. Tesla shares fell about 1.5% in pre-market trading on the news.

In a whirlwind 10 days, SpaceX and Tesla founder Elon Musk has offered to purchase the Twitter stock he doesn't already own for $54.20 a share, ...

Mr. Musk is the world’s richest person with a net worth of $251 billion, according to the Bloomberg Billionaires Index. A Twitter shareholder is suing Musk after he failed to disclose his purchase of Twitter stock, making him the majority shareholder of the tech company. Mr. Rasella filed the suit for himself and on behalf of others similarly situated. The lawsuit alleges that Mr. Musk should have filed the disclosure form by March 24. The suit alleges that the move personally benefited Mr. Musk and could have hurt other shareholders who sold the stock. A self-described “free speech absolutist,” Mr. Musk has publicly encouraged the platform to allow a wide range of opinions. The justification of this lawsuit is that an investor is required to disclose their stake after purchasing more than 5% of a company within 10 days; a deadline which Elon Musk missed. Mr. Musk said Thursday that he would consider selling his stake if the deal doesn’t work out. The offer price values the company at $43bn. He put his bid out to the Twitter board, with a hope to make the company private in order to institute what he believes to be necessary changes to Twitter’s business model. On Thursday, Mr. Musk added to those comments. He then spent much of this past weekend tweeting criticisms, suggestions and apparent jokes about the company—before deciding not to join the board earlier this week. In a whirlwind 10 days, SpaceX and Tesla founder Elon Musk has offered to purchase the Twitter stock he doesn’t already own for $54.20 a share, a 38% premium over the day his investment went public.

Billionaire founder of Tesla launches hostile bid for the social media company, saying it "needs to be transformed."

There will likely be extra scrutiny on hitting these targets if the board rejects Mr. Musk's offer," the analysts said in a report. In his offer, Musk also hinted that he may want to change how Twitter operates. "There will be host of questions around financing, regulatory, balancing Musk's time (Tesla, SpaceX) in the coming days but ultimately based on this filing it is a now or never bid for Twitter to accept." As Twitter's largest shareholder, Musk had been expected to push the company on issues of free speech, a topic on which he's been outspoken. He also said he would "reconsider" his investment in the company if his offer was rejected. "However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form."

Elon Musk launches hostile takeover bid of Twitter · The Tesla CEO, who recently became the social media company's largest shareholder, is offering $54.20 per ...

Fred Wilson, a New York-based venture capitalist, said the platform is “too important” to be owned and controlled by a single person. The price of the takeover bid ― $54.20 per share ― may also be a veiled reference to a previous episode that landed Musk in trouble with the securities regulators. Rep. Lauren Boebert (R-Col.) said Musk deserves a medal for his “patriotic and necessary” fight for free speech. In 2018 Musk tweeted that he had secured funding to take Tesla private at $420 a share ― a possible reference to the unofficial pot-smoking holiday of April 20. “Is Twitter dying?” he asked early Saturday morning. The decisions we make and how we execute is in our hands, no one else’s. Let’s tune out the noise, and stay focused on the work and what we’re building.” Over the weekend, Musk unloaded a series of sharply barbed tweets at the company. Such a stake gives him leverage over the company moving forward; if he decided to sell his shares, it could send the company’s stock price sharply lower. While Musk is a prolific Twitter user with more than 80 million followers, he also is a frequent critic: In late March, he’d suggested in a tweet that he was considering launching his own social media company. He went on to question Twitter’s most popular users, its San Francisco headquarters and its process for authenticating accounts. But since his investment, he has come to “realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.”

Elon Musk has offered to buy the rest of Twitter Inc. in a deal valuing the social-media company at more than $43 billion.

My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder. a. There will be more detail in our public filings. Elon Musk has offered to buy Twitter Inc. in a deal valuing the social-media company at more than $43 billion. As I indicated this weekend, I believe that the company should be private to go through the changes that need to be made. change in the public market, I would need to reconsider my position as a shareholder. 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.

Elon Musk says he wants to take Twitter private and "unlock" its "extraordinary potential."

"If that happens, the board would be eating lawsuits for breakfast." He added that a rejection would likely "cut the stock in half." He adds that "the board would be accused of being 'high' if it decided to sell for $54.20" when the stock was trading around $70 last summer. Musk said Thursday that if his takeover offer was not accepted, he "would need to reconsider my position as a shareholder." Musk has been a vocal critic of Twitter, suggesting that the platform stifles free speech. In the ensuing 10 days, Twitter announced that Musk would be joining its board, but he changed course the day his term was set to start.

One option is to sell his Tesla shares outright. Another is borrowing against them to stage a leveraged buyout, possibly with outside partners. Musk, 50, ...

Elon Musk's hostile takeover bid for Twitter on Thursday prompted many employees to privately express concerns that the incendiary Tesla CEO would change ...

Just hours after confirming his bid to buy Twitter, Musk spoke on takeover plans and railed against the SEC.

Elon Musk says he wants to retain as many of Twitter's shareholders as possible if he's successful in his bid to take the social-media network private.

Tesla and SpaceX billionaire Elon Musk has put forward an offer to buy Twitter to turn it into a free expression haven, but his vision of the platform ...

Tesla CEO Elon Musk has been openly critical of Web3, labelling it as a "marketing buzzword." Patrick Pleul/picture alliance via Getty Images.

Tesla CEO Elon Musk offered to buy Twitter on Thursday, but the stock traded lower, a sign of what investors think of the bid.

The Tesla CEO was a millionaire in his 20s and has parlayed each business success into new endeavors.

Saudi Arabia's Prince Alwaleed bin Talal rejected Elon Musk's bid to acquire Twitter Inc. for $54.20 per share, saying the deal doesn't “come close to the ...

Tesla CEO Elon Musk clapped back after Saudi Arabian billionaire Prince Alawaleed bin Talal rejected his offer to purchase Twitter for $43 billion.

Some billionaires buy newspapers, magazines and sports teams. Elon Musk is trying to buy a social network that he himself admits might cause much of the ...

Live updates on billionaire Tesla CEO Elon Musk's offer to buy Twitter in a deal valuing the social media company at $43 billion.

On making Twitter more transparent: “In my view, Twitter should match the laws of the country and really there is an obligation to do that. On a top priority if he buys Twitter: “Eliminating the spam and scam bots and the bot armies that are on Twitter. They make the product much worse. On why Twitter matters: “It’s important to the function of democracy. Twitter’s largest shareholder, Musk shook up the tech industry on Thursday by offering to buy it for $54.20 a share and take it private. On why he wants to buy Twitter: “It’s very important for there to be an inclusive arena for free speech. If that is the case, then we have free speech." Later Musk tweeted: "If the current Twitter board takes actions contrary to shareholder interests, they would be breaching their fiduciary duty. “I don't believe that the proposed offer by @elonmusk ($54.20) comes close to the intrinsic value of @Twitter given its growth prospects,” he tweeted. "It would be utterly indefensible not to put this offer to a shareholder vote," Musk replied. What are the Kingdom’s views on journalistic freedom of speech?” Musk made the comments at the TED2022 conference in Vancouver. He said Thursday's offer is his “best and final offer.”

The defensive move from Twitter is an attempt to fend off Musk's hostile takeover attempt of the social network.

Twitter has announced a limited-duration shareholder rights plan that may thwart billionaire entrepreneur Elon Musk's attempts to take over the company. Musk, ...

Taking to Twitter today, Dorsey answered a couple questions posed by a Twitter user: Was Musk investing contingent on Dorsey leaving? Did Dorsey leave because ...

Elon Mush holds a Tesla-branded hard hat. Billionaire Tesla CEO Elon Musk at the Tesla Grünheide site in May 2021. Christophe Gateau/picture alliance via Getty ...

Musk's vision of “free speech” would prompt fierce battles with governments in countries where Twitter walks a fine line.

Twitter's board of directors has adopted a limited-term shareholder rights plan called a "poison pill" that could make it harder for Elon Musk to acquire ...

The company appears intent on trying to fend off the billionaire's bid to buy it in a deal that could be worth more than $40 billion.

Twitter employees are reportedly concerned about Elon Musk taking over the company given his history of volatility at Tesla and elsewhere.