Billionaire Elon Musk Wants to Buy Twitter for R600 Billion, Gains Mixed Reactions From Social Media Users

Billionaire Elon Musk Wants to Buy Twitter for R600 Billion, Gains Mixed Reactions From Social Media Users

  • South African born billionaire Elon Musk has plans to take over social media giant Twitter after purchasing shares in the company
  • Musk plans to spend R600 billion on the company and calls the high price his "best and final" offer
  • He shared that if his offer is not considered, he will reconsider his position as a shareholder of the company

PAY ATTENTION: Follow Briefly News on Twitter and never miss the hottest topics! Find us at @brieflyza!

UNITED STATES - Eccentric billionaire Elon Musk hopes to unlock Twitter’s potential by purchasing the social media company for R600 billion. His offer comes days after he rejected a seat on the company’s board.

Musk has offered $54.20 (R795) per share in the social media company and believes that it should be transformed into a private company. He recently acquired 9% of the company’s shares.

Elon Musk, buy, Twitter, R600 billion, Social media, take over, shares
Billionaire Elon Musk plans to purchase Twitter for a high price. Image: Suzanne Cordeiro & Jakub Porzycki/Getty
Source: Getty Images

In a letter to the Chairperson of Twitter Bret Taylor, Musk said since investing in the company, he realised that it will not thrive in its current form. He added that he has made his “best and final offer” and will reconsider his stake in the company should his offer not be accepted, according to News24.

The South African-born billionaire was initially dissatisfied with the company’s freedom of speech policies and tweeted out to his 80 million followers the changes he would like to implement. Some of his plans include turning Twitter’s headquarters, based in San Francisco, into a shelter for the homeless and providing an edit tweet button, reported Business Tech.

Enjoy reading our stories? Download the BRIEFLY NEWS app on Google Play now and stay up-to-date with major South African news!

Social media users divided over the offer

@GuiXimEnEs said:

“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.”

@BSCGrimaceCoin posted:

“Elon will make Twitter even more catered to memes and crypto. Community-owned Twitter!”

@RepMontague shared:

“A man willing to spend $41,000,000,000 for free speech is a good man that I can admire.”

@3YearLetterman commented:

“Elon, not to be “that guy,” but as a Canadian employee of Twitter, you can’t do this. Only the CEO can. I’m an executive myself (youth football coaching legend) and I kicked a player off my team because his granddad questioned my play calling. Grow up and respect authority.”

@larrykim wrote:

“I would love to see what you could do with this dumping-ground-of-a platform!”

@fularhanim said:

“Hello, just one question. Why do you wasting your time and money to buy Twitter while you have the science for inventing a new one?”

@hathawaygeorge9 added:

“Why buy Twitter? It’s free on the App Store?”

Elon Musk acquires a large portion of Twitter shares, the social media company’s shares rise

Briefly News also reported, Twitter shares skyrocketed after Elon Musk announced that he purchased a big portion of the company. He is the company's biggest stakeholder.

This comes after he criticized the social media platform and suggested that would create his own in the industry.

The billionaire has acquired 9.2%, which is worth about $2.89 billion, of shares in Twitter, according to Business Tech.

Source: Briefly News

Online view pixel