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Tesla CEO Elon Musk makes ‘final offer’ to buy Twitter for over 40 BILLION dollars

by Fred Lambert

Tesla CEO Elon Musk has sent an official offer to buy Twitter and sent it as an ultimatum as he basically threatens to sell his shares if the offer is not accepted. And the saga continues.

Over the last week, we have been reporting on the strange saga that has been Musk’s investment in Twitter.

Last week, an SEC filing revealed that Musk has been buying shares of Twitter and that his investment now surpasses $3 billion or about 9% of the company’s total outstanding shares.

It’s enough to make him the single largest shareholder in the company.

Musk didn’t make his plan clear with this investment in Twitter, but as we noted, he is not known for making passive investments and we suspected that he would look to be involved.

Tesla’s CEO had recently talked about starting a competing social media platform and how he believes that Twitter is dying and moving away from free speech.

A day after revealing his stake in the company, Musk accepted an offer from Twitter’s board and management to join its board of directors. This signaled that Musk was willing to join the company and work with them from the inside.

However, it was later revealed that Musk changed his mind just a day later and walk away from the board seat, which also forced him to not buy more than 14.9% of Twitter’s shares.

As we reported at the time, it opened the door for Musk to keep buying shares and potentially attempt a hostile takeover of the company. Learn more about this story and read Electrek's take on the situation.