Elon Musk Offers to Buy Twitter: Everything You Need to Know
Musk proposed paying $54.20 for each share of the influential social media company, an offer that values Twitter at $43 billion.
The entrepreneur, who runs Tesla, SpaceX and other companies, already owns 9.2% of Twitter.
"I now realize the company will neither thrive nor serve [its] societal imperative in its current form," Musk wrote in a letter to Bret Taylor, chairman of Twitter's board of directors.
The offer, which Musk called his "best and final," is the latest development in a roller-coaster relationship between the tech mogul and Twitter since he revealed his stake two weeks ago.
Musk is one of the social media company's largest shareholders. He then turned down a seat on Twitter's board of directors, fueling speculation that Musk would engage in a hostile takeover of the company
With a net worth of $264.9 billion, Musk is reportedly the richest person in the world, but questions still linger about how he would pay for Twitter.