Elon Musk Offers to Buy Twitter: Everything You Need to Know

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Musk proposed paying $54.20 for each share of the influential social media company, an offer that values Twitter at $43 billion.

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The entrepreneur, who runs Tesla, SpaceX and other companies, already owns 9.2% of Twitter.

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"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.

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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.

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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

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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.

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