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Home » Elon Musk Offers to Buy Twitter for Rs 3.2 Lakh Crore.

Elon Musk Offers to Buy Twitter for Rs 3.2 Lakh Crore.

Elon Musk, the founder of Tesla, has made a $ 43 billion offer to buy Twitter Inc. (about Rs 3.2 lakh crore). Musk is willing to pay $ 54.20 per share in cash for this. As per the musk statement which he tweeted “The prices represents a 54% premium over the closing price of the Common Stock on January 28, 2022, the trading day before the Reporting Person began investing in the Issuer, and a 38% premium over the closing price of the Common Stock on April 1, 2022, the trading day before the Reporting Person’s investment in the Issuer was publicly announced.

Elon Musk Statement 

“I invested in Twitter because I believe it has the potential to become a global platform for free speech, and I believe free speech is a social need for a functioning democracy,” Elon Musk explained. However, since making my investment, I’ve come to recognise that the company, in its current form, will not thrive or meet this societal imperative. Twitter should be spun off into a separate entity.

As a result, I’m offering to purchase 100% ownership in Twitter for $54.20 a share, a 54 percent premium to the price the day before I began investing. At the same time, this represents a 38 percent premium over the day before my investment was made public. My offer is my best and final offer, and if it is not accepted, I will have to reevaluate my shareholder position. Twitter has tremendous potential. ‘I’ll get it opened.’

Twitter Shares Rise Up after Elon’s announcement 

In pre-market trade, Twitter shares had gained approximately 18 percent since the news was released. The company’s stock was up 3.10 percent to $45.85 on Wednesday. Last Thursday, Elon Musk announced that he owns 9.2 percent of Twitter. Its details were revealed on April 4th. Musk was reportedly rumoured to be interested in joining the board once the 9.2 percent ownership was revealed, but he eventually declined.

Elon Musk Edit Button Poll 

Musk recently published a tweet questioning Twitter’s feature. He asked the users if they wanted the edit button or not. You will be able to edit whatever you tweeted with the edit option. If you make a tweet and later want to make a correction or update to it, you will be able to do so using the new feature.

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