Elon Musk offers to buy all of Twitter for $41 billion and "transform it"

Elon Musk
Elon Musk (Image credit: Recode)

What you need to know

  • Elon Musk has made an offer to buy all of Twitter.
  • He offered Chairman of the Board Bret Taylor $54.20 a share, a valuation of $42 billion.
  • He stated that "Twitter has extraordinary potential. I will unlock it."

Elon Musk has offered to buy all of Twitter and transform it as a private company.

In a letter filed to the SEC Musk told Bret Taylor, Chairman of the Board:

I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy.However, 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.As a result, I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced. My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder.Twitter has extraordinary potential. I will unlock it.

Musk not only offered to make the purchase but warned that if his offer to buy the whole company was not accepted, he would be forced to reconsider the initial stake that he took in the company. He recently bought 73.5 million shares for some $3 billion and was planning to sit on the company's board before making an abrupt U-turn.

Stephen Warwick
News Editor

Stephen Warwick has written about Apple for five years at iMore and previously elsewhere. He covers all of iMore's latest breaking news regarding all of Apple's products and services, both hardware and software. Stephen has interviewed industry experts in a range of fields including finance, litigation, security, and more. He also specializes in curating and reviewing audio hardware and has experience beyond journalism in sound engineering, production, and design.

Before becoming a writer Stephen studied Ancient History at University and also worked at Apple for more than two years. Stephen is also a host on the iMore show, a weekly podcast recorded live that discusses the latest in breaking Apple news, as well as featuring fun trivia about all things Apple. Follow him on Twitter @stephenwarwick9