27 Apr

Elon Musk honoured with Axel Springer Award 2020 in Berlin
Elon Musk isn’t behind Twitter for any specific reason you’d expect when it’s spending more than $40 billion to buy a business. No, the richest man in the world wants to see change.

Musk offered to buy the public company in April, writing to Twitter, “I invested in Twitter because I believe in its potential to be the platform for free speech around the world, and I believe in free speech.” Speech is a social imperative for a functioning democracy.” 14. “However, since making my investment, I now realize that the company will neither thrive nor meet this social imperative in its present form. Twitter needs to be turned into a private company.”

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Naturally, Musk wants to be the person in charge of that change. “Twitter has extraordinary potential,” he wrote. “I’ll unlock it.” This is hardly surprising, given that Musk is already at the helm of several other ventures, including Tesla, SpaceX, The Boring Company and Neuralink.

Musk dominated the Twitter discussion for nearly a month after buying a 9 per cent stake in the company on April 4 and then calling for a change in Twitter’s operations immediately. Since that time,
Twitter’s board has accepted its bid to take the company private — an offer of about $44 billion based on current numbers — by buying all existing shares they don’t already own. To be clear, this is a financially aggressive deal: Musk will buy the remaining shares of the company at $54.20, a 38 per cent premium to the company’s share price this month.

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