Tesla CEO Elon Musk is offering to buy Twitter, saying the social media platform he has criticized for not living up to free speech principles needs to be transformed as a private company.
FILE - Tesla and SpaceX CEO Elon Musk arrives on the red carpet for the Axel Springer media award in Berlin on Dec. 1, 2020. Musk is offering to buy Twitter, Thursday, April 14, 2022. He says the social media platform he has criticized for not living up to free speech principles needs to be transformed as a private company. for not living up to free speech principles needs to be transformed as a private company.
Musk called that price his best and final offer, although he provided no details on financing. The offer is non-binding and subject to financing and other conditions. Analyst Daniel Ives of Wedbush said in a client note that he believes “this soap opera will end with Musk owning Twitter after this aggressive hostile takeover of the company.” He thinks it would be hard for any other bidders or consortium to come forward and said Twitter’s board will likely be forced to accept Musk’s offer or start a process to sell the company.
The billionaire has been a vocal critic of Twitter in recent weeks, mostly over his belief that it falls short on free speech principles. The social media platform has angered followers of Donald Trump and other far-right political figures who’ve had their accounts suspended for violating its content standards on violence, hate or harmful misinformation. Musk, who has described himself as a “free speech absolutist,” also has a history of his own tweets causing legal problems.
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