Elon Musk wants to buy Twitter, here’s how much he is willing to spend

Elon Musk has offered to buy Twitter for around just days after rejecting a seat on the company’s board. As per a Reuters report, Musk has made his ‘best and final’ offer to Twitter as a part of which he will pay $54.20 per share of the company in cash, which totals to around $41 billion.

“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,” Musk wrote in a letter to Twitter Chairman Bret Taylor.

“My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder,” he added.

Elon Musk becomes Twitter’s biggest shareholder

The development comes shortly after Musk disclosed that he had acquired a 9.2 percent stake in the social media platform via regulatory filing. Shortly after, he was offered a seat on Twitter’s board. “’m excited to share that we’re appointing @elonmusk to our board! Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our Board,” Twitter CEO Parag Agarwal wrote in a tweet.

“I’m really happy Elon is joining the Twitter board! He cares deeply about our world and Twitter’s role in it,” Twitter founder Jack Dorsey had written in a tweet responding to the development.

Elon Musk declines a seat on Twitter’s board

A week later, the Twitter CEO announced that Musk had decided not to join Twitter’s board. “Elon’s appointment to the board was to become officially effective 4/9, but Elon shared that same morning that he will no longer be joining the board. I believe this is for the best…Elon is our biggest shareholder and we will remain open to his input,” Agarwal had written in a post on Twitter explaining the decision.

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