Elon Musk proposes to buy Twitter entirely

A few days after becoming the largest shareholder, Elon Musk is making an offer of 41 billion (US ) in cash to get his hands on the remaining shares of the social network Twitter.

The billionaire has already acquired about 9.2% of Twitter‘s shares ten days ago. Now he decided yesterday (April 13) to go further. He now proposes to buy 100% of the shares at a price of $54.20 per share, which values the company at $43.4 billion.

The world’s richest man, who is reportedly worth $259 billion (U.S.) right now according to Bloomberg’s Real-Time Billionaires Index, said his offer was his “best and final offer,” according to documents filed with the U.S. Securities and Exchange Commission (SEC).

“I invested in Twitter because I believe in its potential as a platform for free speech around the world, and I believe free speech is a societal imperative for a functioning democracy. However, since I invested, I realize that the company will neither thrive nor serve this societal imperative in its current form. Twitter must be transformed into a private company,” explains the businessman.

Elon Musk owes most of his fortune to his stakes in the electric vehicle manufacturer Tesla and his aerospace company SpaceX.