NewDelhi: Tesla and Spae-X founder Elon Musk has offered to buy Twitter for Rs 3.2 lakh crore. Elon Musk is ready to pay $ 54.20 for every share of Twitter. Musk, 50, informed of the proposal in a filing with the US Securities and Exchange Commission on Thursday. Following this announcement, Twitter’s shares closed up 3.10% on Wednesday at $45.85.
Musk said he believes Twitter “will neither thrive nor serve societal imperative in its current form. Twitter needs to be transformed into a private company”
“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.”
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He is one of Twitter’s most liked and watched firebrands figures and has been outspoken about changes he would like to consider on the social microblogging platform. The company offered him a seat on the board a few days ago following the announcement of his stake, which made him the largest individual shareholder on Twitter.
After his stake became public, Tesla founder immediately began appealing to fellow users about future moves, from turning Twitter’s San Francisco headquarters into a homeless shelter to adding an edit button for tweets to granting automatic verification marks to premium users. Few users suggested many such things like one tweet said that ‘Twitter might be dying’, given that several celebrities with high numbers of followers rarely tweet.
Elon Musk has used Twitter as per his whims & fancies on many occasions, his tweets had brought crypto crash several times. Twitter platform suits the dynamic persona and business of Elon Musk who believes in future technology.
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