{"id":60163,"date":"2022-04-15T11:13:09","date_gmt":"2022-04-15T08:13:09","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=60163"},"modified":"2025-09-05T01:47:55","modified_gmt":"2025-09-04T22:47:55","slug":"elon-musk-explains-why-he-wants-to-buy-twitter","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/elon-musk-explains-why-he-wants-to-buy-twitter\/","title":{"rendered":"Elon Musk explains why he wants to buy Twitter"},"content":{"rendered":"<p>The bid to acquire Twitter is driven by a desire to create an &#8216;inclusive arena for freedom of speech&#8217;, rather than to make money. Elon Musk said this at a TED conference.<\/p>\n<figure class=\\\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\\\">\n<div class=\\\"wp-block-embed__wrapper\\\">\n<iframe loading=\\\"lazy\\\" title=\\\"Elon Musk talks Twitter, Tesla and how his brain works \u2014 live at TED2022\\\" width=\\\"500\\\" height=\\\"281\\\" src=\\\"https:\/\/www.youtube.com\/embed\/cdZZpaB2kDM?feature=oembed\\\" frameborder=\\\"0\\\" allow=\\\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\\\" referrerpolicy=\\\"strict-origin-when-cross-origin\\\" allowfullscreen><\/iframe>\n<\/div>\n<\/figure>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\\&#8221;Twitter has effectively become a town square; it is crucial that people have an understanding and perspective of what they can say freely within the law,\\&#8221; he added.<\/p>\n<\/blockquote>\n<p>On April 13, the billionaire sent a filing to the <span data-descr=\\\"U.S. Securities and Exchange Commission\\\" class=\\\"old_tooltip\\\">SEC<\/span> stating that he <a href=\"https:\/\/forklog.com\/en\/news\/elon-musk-proposes-over-43-billion-to-buy-twitter\">ready to buy the social network at a price of $54.20 per share<\/a> \u2014 nearly $43 billion, given its shares outstanding. Twitter&#8217;s stock rose about 11% on the offer.<\/p>\n<p>On the next day, Saudi Prince Al-Walid bin Talal Al Saud rejected Musk&#8217;s offer. Through the Kingdom Holding Company he controls about 5% of the platform&#8217;s shares.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">I don\u2019t believe that the proposed offer by <a href=\\\"https:\/\/twitter.com\/elonmusk?ref_src=twsrc%5Etfw\\\">@elonmusk<\/a> ($54.20) comes close to the intrinsic value of <a href=\\\"https:\/\/twitter.com\/Twitter?ref_src=twsrc%5Etfw\\\">@Twitter<\/a> given its growth prospects. <\/p>\n<p>Being one of the largest &#038; long-term shareholders of Twitter, <a href=\\\"https:\/\/twitter.com\/Kingdom_KHC?ref_src=twsrc%5Etfw\\\">@Kingdom_KHC<\/a> &#038; I reject this offer.<a href=\\\"https:\/\/t.co\/Jty05oJUTk\\\">https:\/\/t.co\/Jty05oJUTk<\/a> <a href=\\\"https:\/\/t.co\/XpNHUAL6UX\\\">pic.twitter.com\/XpNHUAL6UX<\/a><\/p>\n<p>\u2014 \u0627\u0644\u0648\u0644\u064a\u062f \u0628\u0646 \u0637\u0644\u0627\u0644 (@Alwaleed_Talal) <a href=\\\"https:\/\/twitter.com\/Alwaleed_Talal\/status\/1514615956986757127?ref_src=twsrc%5Etfw\\\">April 14, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\\&#8221;I don\u2019t believe that Musk\u2019s offer ($54.2) reflects the intrinsic value of Twitter, given its growth prospects. Being one of the largest and long-term shareholders of Twitter, Kingdom Holding Company and I reject this offer,\\&#8221; he wrote.<\/p>\n<\/blockquote>\n<p>In response, Musk asked how much of Twitter is owned directly and indirectly by Kingdom Holding Company, and what the company\u2019s views on journalistic freedom of speech are.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-conversation=\\\"none\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Interesting. Just two questions, if I may. <\/p>\n<p>How much of Twitter does the Kingdom own, directly &#038; indirectly?<\/p>\n<p>What are the Kingdom\u2019s views on journalistic freedom of speech?<\/p>\n<p>\u2014 Elon Musk (@elonmusk) <a href=\\\"https:\/\/twitter.com\/elonmusk\/status\/1514683079968931841?ref_src=twsrc%5Etfw\\\">April 14, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>At the TED conference, Musk noted that he has a &#8216;Plan B&#8217; in case Twitter&#8217;s shareholders reject the offer. He did not disclose details.<\/p>\n<p>According to Tesla&#8217;s chief, he does not intend to monopolise the social platform, but he has enough capital to acquire it.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\\&#8221;Technically I can afford it. But this is not a way to earn money [\u2026]. I don\u2019t care about the economic side of the matter,\\&#8221; he explained.<\/p>\n<\/blockquote>\n<p>Musk stressed that Twitter should use open-source algorithms to prevent any &#8216;behind-the-scenes manipulation&#8217;. He argued that users should be allowed to edit posts, and that the platform should actively combat fraud and spam.<\/p>\n<p>Public opinion on Musk&#8217;s offer is divided. Some believe the billionaire could do a lot of good for Twitter, others call the move a &#8216;hostile takeover&#8217;. In particular, Dogecoin founder Jackson Palmer has voiced this view.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">It takes some pretty impressive mental gymnastics to associate any type of \\&#8221;freedom\\&#8221; with the richest man in the world initiating a hostile takeover and forcing one of the largest public social media platforms private.<\/p>\n<p>\u2014 Jackson Palmer (@ummjackson) <a href=\\\"https:\/\/twitter.com\/ummjackson\/status\/1514634090049273859?ref_src=twsrc%5Etfw\\\">April 14, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\\&#8221;It takes a lot of mental gymnastics to associate any kind of \\&#8221;freedom\\&#8221; with the hostile takeover initiated by the richest man in the world, to force one of the largest public social platforms to become private,\\&#8221; he wrote.<\/p>\n<\/blockquote>\n<p>According to The Information, Twitter&#8217;s board also does not share Musk&#8217;s optimism and intends to resist the takeover. The executives deemed the offer &#8216;undesirable&#8217;, according to the report.<\/p>\n<p>In financial circles, sentiment toward the billionaire&#8217;s move was also mixed. According to CNBC, investment bank Stifel downgraded Twitter&#8217;s stock, explaining that the company is moving toward the &#8216;Elon circus&#8217;.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\\&#8221;We downgrade Twitter to &#8216;Sell&#8217; after Musk&#8217;s offer. We believe that in the near term the initiative sets a cap on the stock, disconnects quotes from fundamentals and creates significant downside risk if Mr. Musk walks away or sells his stake,\\&#8221; the analysts explained.<\/p>\n<\/blockquote>\n<p>Twitter shares closed the session on April 14 at $45.08. In premarket trading, the stock was higher \u2014 around $46.79 at the time of writing.<\/p>\n<figure class=\\\"wp-block-image size-large\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" width=\\\"1024\\\" height=\\\"490\\\" src=\\\"https:\/\/forklog.com\/wp-content\/uploads\/TWTR_2022-04-15_10-14-55-1024x490.png\\\" alt=\\\"Elon Musk explains why he wants to buy Twitter\\\" class=\\\"wp-image-170538\\\" srcset=\\\"https:\/\/forklog.com\/wp-content\/uploads\/TWTR_2022-04-15_10-14-55-1024x490.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/TWTR_2022-04-15_10-14-55-300x144.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/TWTR_2022-04-15_10-14-55-768x368.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/TWTR_2022-04-15_10-14-55-1536x735.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/TWTR_2022-04-15_10-14-55.png 1834w\" sizes=\\\"auto, (max-width: 1024px) 100vw, 1024px\\\" \/><figcaption>Hourly chart of Twitter&#8217;s stock on the NYSE. Data: <a href=\\\"https:\/\/ru.tradingview.com\/symbols\/NYSE-TWTR\/\\\">TradingView<\/a>.<br \/><\/figcaption><\/figure>\n<p>In April 2022, Musk <a href=\"https:\/\/forklog.com\/en\/news\/elon-musk-acquires-9-2-stake-in-twitter\">became the largest shareholder of Twitter<\/a>, buying 9.2% of the company&#8217;s shares for $2.89 billion. Earlier, the billionaire criticised the social network&#8217;s free-speech policy.<\/p>\n<p>Earlier, the head of Tesla proposed reducing the price of Twitter Blue and giving users <a href=\"https:\/\/forklog.com\/en\/news\/elon-musk-proposes-paying-for-twitter-blue-with-dogecoin\">the option to pay for the premium service in DOGE<\/a>.<\/p>\n<p>Read ForkLog&#8217;s bitcoin news on our Telegram \u2014 crypto news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The bid to acquire Twitter is driven by a desire to create an &#8216;inclusive arena for freedom of speech&#8217;, rather than to make money, Elon Musk said.<\/p>\n","protected":false},"author":1,"featured_media":60164,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1217,40],"class_list":["post-60163","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-elon-musk","tag-twitter"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/60163","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=60163"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/60163\/revisions"}],"predecessor-version":[{"id":60165,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/60163\/revisions\/60165"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/60164"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=60163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=60163"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=60163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}