Connect with us

Hi, what are you looking for?


Elon Musk wants to buy Twitter for $43B

Elon Musk Thursday announced a $43 billion takeover offer for Twitter after having already bought a sizable stake in the social media company.

In a statement to the U.S. Securities and Exchange Commission, the South African-born billionaire and chief executive of Tesla and SpaceX said he believed in Twitter’s “potential to be the platform for free speech around the globe,” but that since making his initial investment in the company in early March, he had realized it could not reach that goal under its current structure.

“Twitter needs to be transformed as a private company,” he said, adding that his $54.20-a-share bid for Twitter was his “best and final offer.”

Shares in the social media company rose by more than 10 percent in pre-market trading on Thursday.

Musk has been a vocal proponent of greater levels of free speech, particularly on social media. But his potential acquisition of Twitter comes as the social media platform is under increased scrutiny for how it polices online content, including upcoming rules in the European Union known as the Digital Services Act and how the company banned former Donald Trump from the network in connection to statements he made surrounding the January 6 Capitol Hill riots in Washington, D.C.

“The Twitter board of directors will carefully review the proposal to determine the course of action that it believes is in the best interest of the company and all Twitter stockholders,” the company said in a statement.

This article has been updated.

This article is part of POLITICO Pro

The one-stop-shop solution for policy professionals fusing the depth of POLITICO journalism with the power of technology

Exclusive, breaking scoops and insights

Customized policy intelligence platform

A high-level public affairs network

Click to comment

Leave a Reply

Your email address will not be published.

You May Also Like


ATHENS — Greece accused Iran of “piracy” after Iranian forces seized two Greek oil tankers in the Persian Gulf in apparent retaliation for Greece’s...


The German government will stop all investment guarantee schemes for companies looking to invest in the Xinjiang region of China due to the deteriorating...


A compromise has been reached by World Health Organization member countries on changes to the rules that govern how countries respond to health crises. ...


The World Health Organization has urged countries that have stockpiled doses of smallpox and monkeypox vaccines and treatments to engage in talks to fairly...


5 ans à l’Elysée (FR) Running time: 139 min (in three parts)Directed by the Président de la RépubliqueStarring: Emmanuel MacronGuest starring: The French government,...


Ivo Daalder, former U.S. ambassador to NATO, is president of the Chicago Council on Global Affairs and host of the weekly podcast “World Review...


Investments in fossil fuels have to be stamped out, except when they help Europe end its catastrophic dependence on Russian gas. That was the...


Press play to listen to this article LONDON — Tony Blair is organizing a conference in late June alongside a new group dubbed the...