Tesla CEO Elon Musk offers $41.39 billion to purchase Twitter
After recently purchasing a stake on Twitter, Tesla CEO Elon Musk has offered $41.39 Billion to purchase Twitter.
Billionaire businessman and the founder of the Electric car manufacturing company Tesla, Elon Musk has made an offer to purchase the Social micro blogging site Twitter at a price of $41.39 billion, approx 3.2 lakh crore in Indian rupees. Recently, the world’s richest man had purchased 9.2 percent stake in Twitter.
According to a report, under this offer Elon Musk is ready to pay $54.20 for every single share made on Twitter. The 50 year old businessman has made this offer on Thursday in a filing with the US Securities and Exchange Commission. After this announcement, Twitter’s share jumped up to 3.10 percent and closed at $45.85.
Recently after buying a stake in Twitter, Musk turned down an offer to join the Twitter board of Directors. Expressing his viewpoint he wrote that Twitter has extraordinary potential in freedom of speech and he wants to unlock its scope further.
He also wrote that after investing on Twitter he realised that the company has not yet developed its social imperative in its present form. So he suggested that Twitter must be privatised.
On purchasing Twitter, Elon Musk said that the offer he has made to purchase the Social Media platform is final and if the company doesn’t accept his offer then he has to reconsider his position as a share holder in the company.