From Jack Dorsey to Elon Musk? – At the beginning of April, Elon Musk surprised his world (once again) by revealing that he had bought 9.2% of all Twitter TWTR shares. At the end of March, his community had indeed confirmed him in his conviction that the blue bird social network did not sufficiently respect the freedom of expression. From now on, the CEO of Tesla and SpaceX would see themselves well too in the head from Twitter.
Elon Musk wants to buy Twitter cash!
We now understand better why Elon Musk a declined his position on the board of directors of Twitter a few days ago. If he had accepted, the billionaire would not have actually could not increase its participation in Twitter beyond 14.9%.
Elon Musk wanted a little (a lot) more: to know 100%. It is, as usual, by a tweet that the engineer-billionaire to report laconically to his community that he had “make an offer” to Twitter, the kind you can’t refuse.
The message includes a link to an official document filed with the Securities and Exchange Commission (DRY). We can read there that Elon Musk wishes buy back all the shares from Twitter!
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Changes too big to leave Twitter as a public (listed) company
Elon Musk offers to buy back the more than 800 million shares of TWTR, at a unit price of $54.20. It is therefore a jackpot of approximately $43.4 billion that our big fan of Dogecoin is ready to put on the table to redeem the social network.
Also included in this document is the statement below from Elon Musk, which explains why he makes this offer: he thinks that Twitter needs to become a private enterprise (unlisted), at least the time to operate there major changes.
“To Bret Taylor, Chairman of the Board [de Twitter],
I invested in Twitter because I believe in its potential as a platform for free speech around the world, and I believe that free speech is a societal imperative for a functioning democracy.
However, since my investment, I realize that the company will neither be able to prosper nor serve this societal imperative in its current form. Twitter must be transformed into a private company.
Accordingly, I am offering to buy 100% of Twitter for $54.20 per share in cash (…) My offer is my best and final offer and if not accepted I will have to reconsider my position as shareholder.
Twitter has extraordinary potential. I will unlock it. »
It’s hard to say at this time if Elon Musk’s generous offer (TWTR stock currently trading at $47) will eventually be withheld or not. In any case, in the meantime, it may make fans dream of Dogecoin (DOGE). Indeed, barely a few days after his purchase of 9.2% of Twitter shares, the engineer-billionaire was already offering tointegrate DOGE as a means of payment for premium subscription Blue Twitter. So if Elon Musk acquires all of Twitter, one can imagine the potential size of the bone for his favorite crypto-doggie.
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