Elon Musk Explained Why He Wants To Acquire Social Media Twitter
Twitter share price fell, and closed at $45.08 amid Elon Musk’s cash offer of $54.20, as speculation grew about whether the board would approve of a sale to Elon Musk.
A major Twitter shareholder, a Saudi Prince Alwaheed bin Talad tweeted his views to Musk’s offer in a tweet, opposing the move. The Tesla CEO responded with a question asking exactly how much Twitter the Saudis own and questioning the Kingdom’s views on freedom of speech.
Interesting. Just two questions, if I may.
How much of Twitter does the Kingdom own, directly & indirectly?
What are the Kingdom’s views on journalistic freedom of speech?
Musk argued that the Twitter should make its algorithm open source in order to avoid any type of “behind the scenes manipulation.”
He also would like to an edit button for tweets (possibly for a limited amount of time after tweeting) and getting rid the spam and scam bots on Twitter.
In an SEC filing, The Tesla CEO said that if his offer was not accepted, he would need to consider his position as a shareholder.
Earlier this week, Musk bought a 9.2% stake in the company and few days later said that he would not be joining the board.
Strike CEO Jack Mallers said that he is supportive on Musk purchasing Twitter, especially, if it means implementing crypto payments into the app. Mallers commented:
“With the right leadership, Twitter could become a payments business.”
Coindesk wrote about the development on Twitter’s saying that “the board met at 10 AM ET this morning, but other than some loose chatter regarding discussions of adopting a poison pill defense, nothing tangible has yet leaked. Twitter also scheduled a company town hall for 5 PM ET.”
