Elon Musk, CEO of Tesla and SpaceX, stated that he does not know whether the attempt to buy the entire social media platform Twitter will be successful, and said, “If my offer is rejected, I have a plan B.” Speaking at the conference, Elon Musk did not elaborate on what this plan is.
In his speech, Elon Musk stated that Twitter should be more open and transparent and said, “It should be an inclusive platform that allows freedom of expression.” Meanwhile, Twitter CEO Parag Agrawal told company employees that they were considering Elon Musk’s offer. Elon Musk, who bought 9.2 of the company for 3 billion dollars last week, offered to pay $ 54.20 for the whole of Twitter in his application to the US Securities and Exchange Commission yesterday.
Musk Is No Longer Twitter’s Biggest Shareholder
“If Twitter management chooses to reject my proposal, it would be extremely untenable not to put it to a shareholder vote,” said Elon Musk. This offer by Elon Musk is 38 percent higher than the market closing price on April 1, when Twitter bought its first shares. But the company’s shares surpassed $70 last summer. Elon Musk has become Twitter’s largest shareholder, buying 3 billion shares. However, it is stated that Vanguard Group has surpassed Musk by increasing its share to 10.3 percent. Musk, who actively uses Twitt er and has more than 80 million followers, has almost four times more share in the company than Twitter founder Jack Dorsey. Tesla CEO Elon Musk last month expressed to his Twitter followers his reservations about the platform’s freedom of expression, saying that he is seriously considering establishing a new social media platform. Last week, Elon Musk decided not to join Twitter’s board of directors.
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