Billionaire Elon Musk makes $43 billion bid to take over Twitter

Billionaire Elon Musk makes $43 billion bid to take over Twitter

World richest man, Elon Musk, the founder of Tesla, has made a bid of $43 billion  to buy micro-blogging and social media platform, Twitter.

The billionaire disclosed this on Thursday in a filing with the U.S. Securities and Exchange Commission.

Elon’s deal includes an offer of 54.20 per share in cash, representing a 54% premium over the January 28 closing price and a value of about $43 billion.

According to Elon, he believes Twitter “will neither thrive nor serve [its free speech] societal imperative in its current form. Twitter needs to be transformed as a private company.”

Musk had earlier on April 4, disclosed ownership of a stake of about 9% in Twitter.