Tesla and Space X CEO Elon Musk has made a monster $46 billion dollar offer to buy Twitter. Musk wrote a letter to Twitter’s board saying the social media platform “has extraordinary potential. I will unlock it.”
Musk confirmed he made the offer on Twitter:
“Musk’s offer price of $54.20 per share represents a 38% premium to Twitter’s April 1 close, the last trading day before the Tesla (TSLA.O) chief executive’s stake of more than 9% in the social media platform was made public,” Reuters reports.
“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 his letter to Twitter Chairman Bret Taylor.
“My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder,” Musk added.
This story is developing…