Elon Musk Offers to Buy All of Twitter
Elon Musk, founder and CEO of Tesla, has offered to purchase all of Twitter for $54.20 per share, valuing the company at $43 billion, in a letter to the social media company's chairman of the board, Bret Taylor.
In a letter filed with the SEC, Musk says that following his purchase of 9.1% of the company earlier in the month, he is "offering to buy 100% of Twitter for $54.20 per share in cash." Musk purchased nearly 10% of the social media giant and was set to become a member of its board, but due to unknown reasons, Musk pulled out.
Musk in the letter goes on to state that Twitter has "extraordinary potential" that he will unlock. Since making his earlier investment in the company, Musk wrote that he has realized "the company will neither thrive nor serve this societal imperative in its current form," adding "Twitter needs to be transformed as a private company."
"My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder," Musk concludes. Musk in the last several months has been a vocal critic of Twitter on the platform, calling into question its policies and at one point seemingly contemplating whether a new, competing social media platform would need to be made.
Update: In a statement, Twitter has confirmed it has received Musk's offer and will "carefully review the proposal to determine the course of action that it believes is in the best interest of the Company and all Twitter stockholders."
Popular Stories
Apple's recently announced CarPlay Ultra promises a deeply integrated in-car experience, but not all iPhone users will be able to take advantage of the new feature.
According to Apple's press release, CarPlay Ultra requires an iPhone 12 or later running iOS 18.5 or later. This means if you're using an iPhone 11, iPhone XR, or any older model, you'll need to upgrade your device to access...
Apple today announced that its next-generation CarPlay experience, now dubbed "CarPlay Ultra" begins rolling out today, starting with Aston Martin vehicles.
Subscribe to the MacRumors YouTube channel for more videos.
CarPlay Ultra is now available with new Aston Martin vehicle orders in the U.S. and Canada. It will also be available for existing models that feature the brand's next-generation ...
Apple today announced the launch of CarPlay Ultra, the long-awaited next-generation version of its CarPlay software system for vehicles.
CarPlay Ultra features deep integration with a vehicle's instrument cluster and systems, built-in Radio and Climate apps, customizable widgets, and more. The interface is tailored to each vehicle model and automaker's identity, and drivers can also adjust...
Apple's Vision Pro headset has left many early adopters expressing dissatisfaction over its weight, limited use cases, and sparse software ecosystem, according to a new article from The Wall Street Journal.
In the year following the device's launch, user feedback suggests that it has failed to meet expectations for comfort, software support, and social acceptance. In interviews conducted by T...
The upcoming all-new ultra-thin iPhone 17 Air could become the first Apple smartphone to adopt advanced battery technology, with Japanese supplier TDK preparing to ship its new generation of silicon-anode batteries by the end of June.
According to DigiTimes, TDK CEO Noboru Saito revealed in a recent interview that the Apple supplier has accelerated its production timeline, moving shipments...
Apple plans to mostly stop announcing new features more than a few months before they are ready to launch, according to Bloomberg's Mark Gurman and Drake Bennett. The pair of reporters revealed this noteworthy tidbit towards the bottom of a lengthy report about Apple's artificial intelligence shortcomings today.
This alleged change in strategy comes after Apple was forced to delay its more...
