Elon Musk Offers to Buy Twitter

According to a report from Reuters, Elon Musk has offered to buy Twitter for $41.39 billion.

Musk, who calls himself a free-speech absolutist, has been critical of the social media platform and its policies, and recently ran a poll on Twitter asking users if they believed the platform adheres to the principle of free speech.

My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder,” Musk added. Twitter will review Musk’s offer with advice from Goldman Sachs & Co and Wilson Sonsini Goodrich & Rosati, a source told Reuters. The company’s shares jumped 12% in premarket trading, while those of Tesla fell about 1%. The total deal value was calculated based on 763.58 million shares outstanding, according to Refinitiv data.

Obviously, this would be tantamount to completely gutting the application and starting over. Twitter has no obligation to free speech as it stands now.

Even better, I look forward to the idea that Twitter should be something people pay to use. Of course, if it costs money to use, most of its users would decide they’d rather spend their money on just about anything else. Even if Musk just turns it into a private company, I think many users may move on.

Twitter, unfortunately, must take Musk at least semi-seriously. He’s worth an estimated $273 billion, so it could happen. I just don’t really expect it to happen. I expect investors to decide the offer isn’t good enough, and that will be that.

April 14, 2022