Twitter ‘set to accept’ Elon Musk’s offer to buy social media company | Entertainment
Twitter is “ready to accept” Elon Musk’s offer to buy the social media company.
The 50-year-old multi-billionaire made an offer to buy the social networking site for $41.39 billion in mid-April after initially buying a 12.5% stake in the company and reportedly had a meeting with the 11-member board that could see negotiations concluded as soon as later today (4/25/22), according to the New York Times.
The outlet then described the alleged meetings as a “turning point” for the microblogging platform’s privatization plan and claimed its offer to buy the site for $54.20 per share was a nod to the number 420, which is a cultural slang term. for marijuana.
Despite initial concerns about exactly how the CEO would raise the funds to facilitate the mammoth purchase, The New York Times claimed that Musk had struck a deal with investment bankers at Morgan Stanley to loan him $100,000. money of just under $25 billion to help fund the deal and that he would pay the rest in cash.
The Tesla founder – who is ranked as the world’s richest man with an estimated net worth of almost $265 billion – has previously insisted his planned takeover of Twitter is not an exercise in money making, but rather a way to ensure that there is a platform that can be “trusted” and is “widely diverse”.
Speaking at the TED conference in Vancouver on Thursday (14.04.22), Elon – who tweets frequently and has 83.3 million followers – said: “Twitter has become a kind of de facto public square. So it’s very important that people have both the reality and the perception that they are able to express themselves freely within the bounds of the law. This is not a way to make money. My strong intuitive feeling is that “Having a broadly inclusive, maximum-trust public platform is extremely important. So the future of civilization, but you don’t care about the economy at all.”