Update (04/14/2022, at 16:10) – FM
Elon Musk surprised the world by making an offer to buy Twitter this Thursday morning (14), but unfortunately, the proposal is suffering the disapproval of Saudi Prince Alwaleed bin Talal, a major shareholder of the social network.
“I don’t believe that Elon Musk’s proposal comes close to the intrinsic value of Twitter”, says the investor, stating that the value proposed by the billionaire – about US$ 43 billion (US$ 54.20 per share) – is far below the company’s growth prospects.
I don’t believe that the proposed offer by @elonmusk ($54.20) comes close to the intrinsic value of @Twitter given its growth prospects.
Being one of the largest & long-term shareholders of Twitter, @Kingdom_KHC & I reject this offer.https://t.co/Jty05oJUTk pic.twitter.com/XpNHUAL6UX
— الوليد بن طلال (@Alwaleed_Talal) April 14, 2022
In addition to being CEO of Tesla and SpaceX, Musk bought a significant 9.2% stake in Twitter shares earlier this month, causing the social network’s pre-market value to soar by 26%. The richest face in the world was invited to join the company’s board of directors, but declined the offer, continuing as a “simple” majority shareholder.
The mogul’s proposed purchase is accompanied by several suggestions for changes to the social network, including a button to edit tweets and the awarding of “Verified Profile” badges to anyone who paid for the premium version.
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In his letter to the president of Twitter, Musk said, “Since I made my initial investment, I now realize that the company will not thrive and will not serve this social imperative in its current form. Twitter needs to be turned into a private company.”
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Original text (04/14/2022)
Elon Musk makes a new offer and now wants to buy Twitter
According to information released on Thursday, Musk plans to pay $54.20 per share in cash, which represents a 54% premium over the current share price. The total value of the transaction could reach US$43 billion.
Musk’s offer is in a document sent to the US Securities and Exchange Commission, with the total purchase a considerable advance from the 9% acquired on April 4.
economy and market
12 Apr
economy and market
11 Apr
Elon Musk’s change in positioning also draws attention to the fact that the executive wants to make a series of structural changes to Twitter, but has refused a seat on the company’s board of directors.
Some of Musk’s suggestions include a button to edit tweets and even granting the verified badge to those who pay for the premium version of the social network.
For now, Twitter has not yet taken a position on the matter, but the transaction should turn the social network into a private company, as Musk intends to take it out of the market.
I invested in Twitter because I believe in its potential to be the platform for free speech around the world. I believe that freedom of expression is a societal imperative for a functioning democracy.
However, since I made my initial investment, I now realize that the company will neither thrive nor serve this social imperative in its current form. Twitter needs to be transformed like a private company. — Elon Musk.
