Elon Musk offers to buy Twitter for $41.39 billion
The executive is one of Twitter’s most-watched firebrands, often tweeting out memes and taunts to @elonmusk’s more than 80 million followers. He has been outspoken about changes he’d like to consider imposing at the social media platform, and the company offered him a seat on the board following the announcement of his stake, which made him the largest individual shareholder.Article content
Musk can afford a takeover of Twitter. He’s currently worth about US$260 billion according to the Bloomberg Billionaire’s Index, compared with Twitter’s market valuation of about US$37 billion. The takeover is unlikely to be a drawn out process. “If the deal doesn’t work, given that I don’t have confidence in management nor do I believe I can drive the necessary change in the public market, I would need to reconsider my position as a shareholder,” said Musk.
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