Elon Musk offers to buy all Twitter shares
16 April 2022
Not content with a nine-percent stockholding in Twitter, Tesla CEO Elon Musk has made an offer to buy all shares in the social networking service. His intention is to take the company private so he can enact many of the changes he says are necessary for Twitter’s future.
His offer of US$54.20 per share values Twitter at some US$43 billion, meaning Musk would either need to borrow the money, or sell some of his Tesla shares, to complete the purchase. Musk is the largest shareholder in Tesla, owning about seventeen percent of the stock.
But CEOs selling down shares in their own company can make other investors nervous, as it sometimes signals difficult times ahead. Watch this space. I’m waiting to see what happens.