Elon Musk has made an offer to buy “100 percent of Twitter” for around $43 billion, according to a regulatory filing, with the tech mogul saying he wants to actualize the company’s “extraordinary potential” to become a true platform for free speech.
“Twitter has extraordinary potential. I will unlock it,” Musk wrote.
‘I Believe In Its Potential’
Musk has in the past questioned Twitter’s commitment to free speech and recently bought nearly 10 percent of the company, sparking speculation whether he has plans to shake up the company’s moderation policies, which have been accused of anti-conservative bias.Twitter has repeatedly denied claims of censoring some minority and politically conservative viewpoints.
“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 wrote in the letter.
‘Free Speech Is Essential’
Musk has repeatedly called Twitter’s commitment to free speech into question.Over 2 million Twitter users weighed in, with 70.4 percent voting “no.”
Earlier news of Musk’s greater involvement in Twitter, including his potential ascension to board member, was met with calls from conservatives for him to chart a new course at the company.
‘Needs To Be Transformed’
Musk’s letter to Taylor makes it clear he’s looking to press some kind of a free speech shakeup at Twitter.“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, referring to the “societal imperative” of free speech.
He said he was offering to buy “100 percent of Twitter for $54.20 per share in cash, a 54 [percent] premium over the day before I began investing in Twitter and a 38 [percent] premium over the day before my investment was publicly announced.”
“My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder,” he added.
The Epoch Times reached out to Twitter for comment on Musk’s buyout bid. The company responded with a statement saying that it had received Musk’s “unsolicited, non-binding” proposal, adding that it would “carefully review” it and take decisions that it believes are in the best interest of the company and stockholders.