By Shelly Melancon (Switzerland)
The current number one richest man in the world and strong crypto advocate, Elon Musk, has revealed that he already has a new plan to influence things on Twitter if his request to own Twitter completely is rejected. Musk made this known during a recent interview at a tech conference in Vancouver.
However, Musk declined to disclose his plans if his Twitter ownership offer was rejected. However, his response during the interview shows that he is adequately prepared for a rejection from Twitter supervisory executives.
Musk’s Desire For A 100% Twitter Ownership
On Thursday, Musk revealed his proposal of nearly $42B to become the sole owner of the top social microblogging site, Twitter, offering to pay each shareholder $54.21 for each share they own.
Musk, who had earlier become the highest shareholder on the social site with his 9.2% holdings, claimed that the current way Twitter is run makes it impossible for the platform to be an advocate of free speech. He intends to own the platform 100% to make users’ opinions genuinely free for the platform users.
He also said that if he became the company’s sole owner, he would privatize it to make his free speech plan come true. While Musk stated that he had made his final offer which he considers the best, the Tesla CEO subtly added that he might reconsider his shareholding status if his request is rejected.
No one knows whether Musk’s “reconsider my investment” statement means he would sell his stake in the company or that is his plan B which he didn’t want to reveal. Time will reveal his plans or investment reconsideration statement.
Analysts Predict Possible Musk Actions
You’d recall that Musk disclosed that he plans to launch a social platform where a right of free expression is guaranteed two weeks ago. The self-acclaimed Doge-father even revealed that his new platform would allow content creators to receive tips via doge payments which the platform will support.
Since making that statement, Cardano founder (Charles Hoskinson) has chipped in that he won’t mind partnering with Musk to create his favored freedom of speech decentralized network in case the Twitter board rejects his offer.
Musk’s Actions And Twitter’s Stock Values
While the Twitter board could prevent Musk from making the purchase, many shareholders may be upset if this happens because Twitter stocks currently trade at $46 per share compared to Musk’s offer of $54.21 per share. Also, Musk’s investment announcement had a positive impact on Twitter shares.
Hence, Musk’s offer would represent a huge profit for these investors as the Twitter stock was down at the start of the year following the exit of the company’s founder, Jack Dorsey, as the CEO of the company. Investors’ confidence in the company declined after Dorsey’s departure, negatively impacting Twitter’s share value.
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