Skip to content
May 17, 2025
  • Facebook
  • Twitter
  • Instagram
  • Youtube
  • tiktok
MILLENNIUM NEWS 24/7

MILLENNIUM NEWS 24/7

Bridging The Community’s World Wide

  • Home
  • IP TV LIVE
  • PODCAST
  • U.S.News
  • ELECTION 2024
  • State News
    • Alabama
    • Alaska
    • Arizona
    • Arkansas
    • California
    • Colorado
    • Connecticut
    • Delaware
    • Florida
    • Georgia
    • Hawaii
    • Idaho
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Kentucky
    • Louisiana
    • Maryland
    • Massachusetts
    • Michigan
    • Maine
    • Minnesota
    • Mississippi
    • Missouri
    • Montana
    • Nebraska
    • Nevada
    • New Hampshire
    • New Jersey
    • New Mexico
    • New York
    • North Carolina
    • North Dakota
    • Oregon
    • Pennsylvania
    • Rhode Island
    • South Carolina
    • South Dakota
    • Tennessee
    • Texas
    • Virginia
    • Washington
    • West Virginia
    • U.S. Virgin Islands
  • Politics
  • World News
  • Sports
  • Entertainment
  • Weather
  • Business
  • Advisement
  • Health News
  • About Us
  • Contact us
Live TV

Tesla CEO Elon Musk offers to buy Twitter for $43 billion

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.

Twitter Inc. said in a regulatory filing on Thursday that Musk, currently the company’s biggest shareholder, has proposed buying the remaining shares of Twitter that he doesn’t already own at $54.20 per share, an offer worth more than $43 billion.

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.

“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 in the filing. “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.”

Twitter said it has received Musk’s offer and will decide whether it is in the best interests of shareholders to accept or continue to operate as a publicly traded company.

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.

Musk revealed in regulatory filings over recent weeks that he’d been buying shares in almost daily batches starting Jan. 31, ending up with a stake of about 9%. Only Vanguard Group’s suite of mutual funds and ETFs controls more Twitter shares.

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 also has a history of his own tweets causing legal problems.

After Musk announced his stake, Twitter quickly offered him a seat on its board on the condition that he not own more than 14.9% of the company’s outstanding stock, according to a filing. But he said five days later that he’d declined.

He didn’t explain why, but the decision coincided with a barrage of now-deleted tweets from Musk proposing major changes to the company, such as dropping ads — its chief source of revenue — and transforming its San Francisco headquarters into a homeless shelter. Musk left a few clues on Twitter about his thinking, such as by “liking” a tweet that summarized the events as Musk going from “largest shareholder for Free Speech” to being “told to play nice and not speak freely.”

Musk’s 81 million Twitter followers make him one of the most popular figures on the platform, rivaling pop stars like Ariana Grande and Lady Gaga. But his prolific tweeting has sometimes gotten him into trouble with the SEC and others.

Musk and Tesla in 2018 agreed to pay $40 million in civil fines and for Musk to have his tweets approved by a corporate lawyer after he tweeted about having the money to take Tesla private at $420 per share. That didn’t happen, but the tweet caused Tesla’s stock price to jump. Musk’s latest trouble with the SEC could be his delay in notifying regulators of his growing stake in Twitter.

Musk has described himself as a “free speech absolutist” and has said he doesn’t think Twitter is living up to free speech principles — an opinion shared by followers of Donald Trump and a number of other right-wing political figures who’ve had their accounts suspended for violating Twitter content rules.

Shares of Twitter jumped 11% before the market open. The stock is still down from its 52-week high of about $73. Shares of Tesla, the electric vehicle manufacturer that Musk heads, slipped about 0.9%.

About Author

dreamboy

See author's posts

Continue Reading

Previous: UK clears 6th COVID shot despite canceling deal for doses
Next: Guerrero slugs 3 HRs despite gash on hand, Jays beat Yankees

Related Stories

Amazon launches its first internet satellites to compete against SpaceX’s Starlinks

Amazon launches its first internet satellites to compete against SpaceX’s Starlinks

Trump administration says it will exclude some electronics from reciprocal tariffs

Trump administration says it will exclude some electronics from reciprocal tariffs

Apple has few incentives to start making iPhones in US, despite Trump’s trade war with China

Apple has few incentives to start making iPhones in US, despite Trump’s trade war with China

Entertainment

Tom Cruise brings ‘Final Reckoning’ to Cannes, but won’t bid ‘Mission: Impossible’ adieu yet 1

Tom Cruise brings ‘Final Reckoning’ to Cannes, but won’t bid ‘Mission: Impossible’ adieu yet

‘SNL’ to close out its 50th season with Scarlett Johansson and Bad Bunny 2

‘SNL’ to close out its 50th season with Scarlett Johansson and Bad Bunny

Jen Psaki stepping up for MSNBC as Rachel Maddow returns to once-a-week schedule 3

Jen Psaki stepping up for MSNBC as Rachel Maddow returns to once-a-week schedule

Book publishers see surging interest in the US Constitution and print new editions 4

Book publishers see surging interest in the US Constitution and print new editions

What to know about Harvey Weinstein’s #MeToo retrial with jury selection set to get underway 5

What to know about Harvey Weinstein’s #MeToo retrial with jury selection set to get underway

Ahead of spaceflight, Katy Perry is reading Carl Sagan and channeling her ‘feminine divine’ 6

Ahead of spaceflight, Katy Perry is reading Carl Sagan and channeling her ‘feminine divine’

British police charge comedian Russell Brand with rape and sexual assault 7

British police charge comedian Russell Brand with rape and sexual assault

Top News

Israel expands attacks in Gaza and Yemen as Trump wraps up trip to region

Israel expands attacks in Gaza and Yemen as Trump wraps up trip to region

Trump administration officials say Secret Service is investigating Comey’s ’86 47′ social media post

Trump administration officials say Secret Service is investigating Comey’s ’86 47′ social media post

Trump’s Mideast trip splashes out on deals and diplomacy but is unusually quiet on human rights

Trump’s Mideast trip splashes out on deals and diplomacy but is unusually quiet on human rights

Tom Cruise brings ‘Final Reckoning’ to Cannes, but won’t bid ‘Mission: Impossible’ adieu yet

Tom Cruise brings ‘Final Reckoning’ to Cannes, but won’t bid ‘Mission: Impossible’ adieu yet

  • Home
  • About Us
  • Facebook
  • Twitter
  • Instagram
  • Youtube
  • tiktok
Editor Nur M Tofader, 544 Taylor Avenue Bronx New York USA 10473, Tell: 7186396600, 7186396800, 7188441300, Email: Info@millenniuamnews24.com, Copyright © Millennium News 24/7 | DarkNews by AF themes.