Elon Musk has offered to buy 100% of Twitter at $54.20 a share, amounting to around $43 billion, declaring that the Big Tech company must become private to protect free speech and democracy.
Musk, one of the richest men in the world, initially purchased a $3 billion stake in Twitter at the start of April, making him the single biggest shareholder, sitting at 9.2%. He was set to join the board of the company, having been invited by CEO Parag Agrawal, but declined, leading to speculation on his next moves.
Speaking with Tucker Carlson, Revolver News’s Darren Beattie, who encouraged Musk to take Twitter private, Beattie said that doing so would “amount effectively to a declaration of war on our corrupt and illegitimate regime.”
Tucker Carlson & @DarrenJBeattie Discuss What @elonmusk Must Do To Restore Free Speech To Twitter
Darren: "It would amount effectively to a declaration of war on our corrupt and illegitimate regime." pic.twitter.com/sC1e91dfqB
— The Columbia Bugle 🇺🇸 (@ColumbiaBugle) April 13, 2022
On Thursday morning, Musk released an SEC filing confirming that he would be offering to buy 100% of Twitter for $54.20 a share in cash, which would be a 54% premium in shares since he started investing in the company and a 38% premium over the day he announced he would do.
“I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy,” Musk said. “However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.”
The billionaire confirmed that the offer is his “best and final offer,” and that if it is not accepted, he would be forced to “reconsider” his position as a shareholder within the company. “Twitter has extraordinary potential,” he concluded. “I will unlock it.”
I made an offer https://t.co/VvreuPMeLu
— Elon Musk (@elonmusk) April 14, 2022
In a statement, Twitter said that it had received Musk’s “unsolicited, nonbinding proposal,” adding that the board would review the offer made by the billionaire and then “determine the course of action that it believes is in the best interest of the company and all Twitter stockholders.”
After Musk announced he had plans to buy up all of Twitter, stock in the Big Tech company jumped 12% pre-market open.
A copy of Musk’s offer to Twitter was eventually posted to social media, revealing Musk expressed further lack of confidence in Twitter’s management.
Elon Musk’s takeover letter to Twitter 👇 pic.twitter.com/5P9NUQd5Ca
— Ezra Levant 🍁🚛 (@ezralevant) April 14, 2022
Twitter liberals and leftists, who were already concerned about Musk’s original 9% investment, declared that not only would they be leaving the site if Elon took over, but that also privatisation would be horrible for “democracy,” with columnist Max Boot saying that democracy requires “more content moderation, not less.”
What a great day it is to run a gimmick account. pic.twitter.com/hSDKU1IA9Q
— Checkmarks Posting Ls (@CheckmarkLs) April 14, 2022
I am frightened by the impact on society and politics if Elon Musk acquires Twitter. He seems to believe that on social media anything goes. For democracy to survive, we need more content moderation, not less.
— Max Boot 🇺🇦 (@MaxBoot) April 14, 2022
Elon, seriously.
It's a consensus in social sciences that free speech can't be limitless. You should keep investing your time in things you actually know how it works, like the engineering fields that u are great on it. Leave social matters to people that study it.
— GuiXimenes 🇧🇷🏴 (@GuiXimEnEs) April 14, 2022
We can't have Elon Musk owning Twitter and Democracy. It's one or the other.
— Michael de Adder (@deAdder) April 14, 2022
If Elon Musk buys Twitter it would be a massive blow to democracy and social movements globally. https://t.co/oRc9fDIiA7
— Frederick "Pre-order Patriarchy Blues" Joseph (@FredTJoseph) April 14, 2022
Conservatives were far happier about the news, with a number of commentators highlighting the fact that leftists, who constantly argued that “Twitter is a private company” and can therefore censor anyone it likes, will likely be retiring it as an argument.
2018-2022 censorship wave:
Leftists: “Twitter is a private company, it can do what it wants.”
Elon Musk buys Twitter.
Conservatives: “Twitter is a private company, it can do what it wants.”
Leftists: “No, not like that!”
— Paul Joseph Watson (@PrisonPlanet) April 14, 2022
The libs are having a meltdown over Elon Musk trying to buy Twitter, but what’s their objection?
They can buy their own Twitter. https://t.co/wLkbQbiypZ
— A N (@MaxNordau) April 14, 2022
The wailing from NY and DC, if that Elon Musk offer for Twitter goes through, will be heard in every corner of the globe.
— The Columbia Bugle 🇺🇸 (@ColumbiaBugle) April 14, 2022
I see Elon Musk wants, literally, to own the Libs.
— Helen Dale (not on your team, but always fair) (@_HelenDale) April 14, 2022
However, some on the right were more pessimistic that anything would actually happen. One anonymous account noted that the people who own Big Tech companies “would rather run it into the ground than give up the narrative power,” adding that they lose money on “propaganda efforts all the time.”
I remain pessimistic. The freaks who run this platform would rather run it into the ground than give up the narrative power it gives them.
Remember that these same types of people lose money on propaganda efforts all the time, because there's more to power than money. https://t.co/JwyDttB2BP
— 🔺ʀᴇᴍɴᴀɴᴛ. (@remnantposting) April 14, 2022
