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Elon Musk does not stitch without thread. Just a few days ago he surprisingly rejected Twitter CEO Parag Agrawal's offer to join the board of directors after becoming the biggest shareholder of the social network, with just over 9% of the share capital. Now the founder and president of Tesla, in addition to having the first fortune in the world, has launched an offer to take over the Twitter restaurant for 41.390 million dollars (almost 40.000 million euros), as reported by Reuters. Elon offers shareholders of the social network $54,20 per share. This represents a 38% premium over the price at which the titles closed on April 1.
The tycoon's intention is to acquire 100% of the company and remove it from listing. Specifically, in the documentation sent to the United States Securities and Exchange Commission (known in English as the SEC or Securities and Exchange Commission) Musk has assured that he invested in Twitter because he "believes in its potential to be the platform for freedom of expression." expression around the world. The tycoon has assured the US CNMV that he believes that freedom of expression is a social imperative for the functioning of democracy.
However, he regretted that the company does not serve this purpose as it is currently conceived and pointed out that "Twitter needs to be transformed into a private company." In fact, he has added that it is "his best and last offer and that, if it is not accepted, I will reconsider my position as a shareholder."
playing clueless
Musk has measured his movements in recent days. The decision not to enter the board of directors of Twitter on Monday of this week left the door open to an offer like the one that has been put on the table today. Specifically, according to media such as 'The New York Times', the seat that had been reserved for the owner of Tesla had an important counterpart: according to a previously signed agreement, he could not buy more than 14,9% of the shares while he was part of this body until 2024 and resigned to take the reins of the company. Given what happened, the tycoon goes for it all.
2022, the year Elon Musk was crowned the richest man in the world
The president and founder of Tesla, as well as the owner of SpaceX and other companies, reached the highest place on the Forbes List a few weeks ago, overthrowing Jeff Bezos (Amazon) himself and greatly surpassing the classics on this list such as Bernard Arnault and family (owners of the luxury and beautiful products conglomerate LVMH), Bill Gates (founder of Microsoft) and Warren Buffett (Berkshire Hathaway).
Specifically, the prestigious American publication estimated Musk's net worth at 273.600 billion dollars, increasing his assets last year by 8.500 billion dollars. Musk is co-founder of Pay Pal (origin of his fortune), owner of 21% of Tesla, 9,1% of Twitter, as well as other companies such as SpaceX valued at 74.000 million dollars, SolarCity and Boring Company. Born in South Africa in 1971, he immigrated to Canada for 17 years, having landed at the University of Pennsylvania as an exchange student.
In any case, the tweet that Parag published about this change of opinion by Musk has become prescient: “We have always valued and always value the opinion of our shareholders, whether they are on the board or not. Elon is our largest shareholder and we will remain open to input from him.” Now they will have to listen to him with much more attention.
