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Elon Musk offers more than 40,000 million dollars to buy Twitter | Economy

The billionaire Elon Musk has offered this Thursday more than 40,000 million dollars (about 37,000 million euros) to buy Twitter. According to the Reuters agency, the offer would be 41,390 million dollars, although economic means such as The Wall Street Journal, Financial Times or Bloomberg raise that amount to 43,400 million dollars. Musk’s offer of $54.2 per share (49.67 euros) represents 38% more than what the company was trading on April 1.

The richest man in the world had entered the capital of the social network just a few days ago. On April 4, Musk took over 9.2% of the company and became its main shareholder, the company reported to the United States Securities and Exchange Commission (SEC). Also owner of the SpaceX aircraft and the Boring Company tunnel boring machine, Musk thus announced his entry into the shareholding of the technological platform a week after insinuating that he was considering landing in the social media business to turn it upside down. Following the news of the trade, Twitter shares rose about 26% in premarket trading and before the open on Wall Street.

Musk declined Monday to join the board of directors of the company, whose shares are up 12% in pre-market trading on Thursday. “Since making my investment, I have realized that the company will not prosper or meet this social imperative in its current form. Twitter must become a private company,” Musk said in a letter to Twitter president Bret Taylor. “My offer is my best and last offer and if it is not accepted, I would have to reconsider my position as a shareholder,” Musk added.

The phrase can also be read as a threat. Twitter shareholders now see their shares appreciate strongly, but if Musk fails in his goal of taking control of the company and divests them, the fall would be as pronounced as the rise has been in recent days.

The move brings the sector back to the fore a decade after other famous acquisitions. In 2006, Google bought YouTube for $1.65 billion, while Facebook bought Instagram in 2012 after spending $1 billion. The operation now sought by Musk far multiplies those acquisitions.

He knows in depth all the sides of the coin.

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