Elon Musk is already the richest man in the world. The founder of SpaceX and Telsa, the billionaire is well on his way to becoming the world’s first trillionaire, according to one recent estimate.
Now, Musk has his sights set on becoming the sole owner of the world’s most influential social media platform, Twitter, with an offer that would make Bill Gates blush.
Musk Pushes His Chips to the Center of the Table
Musk made the offer just days after deciding he did not want to join the social media giant’s Board of Directors.
In a regulatory filing Thursday, Musk reportedly provided a letter to the company saying he had a proposal to buy the remaining shares, which would give him 100% ownership of the company.
Musk, 50, has 9% of Twitter stock currently, making him the biggest shareholder already.
Musk’s Monumental ‘Offer They Can’t Refuse’
Musk offered $54.20 per share of the company’s stock, which equates to $41.3 billion.
He said it would be his “final and best” offer.
Twitter stock has already surged over 12% in premarket trading since the billionaire made his statement.
“I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy,” Musk said according to USA Today.
“However, 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.”
Following the news, Washington Post columnist Max Boot said that the prospect of Musk, a renowned free speech advocate, owner the platform was ‘frightening.’
“I am frightened by the impact on society and politics if Elon Musk acquires Twitter,” Boot wrote in a tweet on Thursday morning. “He seems to believe that on social media anything goes.
For democracy to survive, we need more content moderation, not less.”
Still, many analysts see Musk’s potential purchase as a positive for society.
He has spoken out against social media censorship in the past, and polled his Twitter followers asking if Twitter should be made open source before his purchase.
If Musk’s offer is accepted, it could change the face of social media for decades to come.
What do you think about this news, and do you think it would be a good idea if Elon is successful in his takeover bid?