Elon Musk spoke about his purchase from Twitter when he returned to the platform after being quiet for several days, and it caught the attention of the public and its shareholders. One of those who reacted against this proposal is the Kingdom Holding Company of Saudi Arabia, with Prince Alwaleed Talal expressing his rejection online.
Elon Musk Twitter Purchase: Kingdom, Saudi Prince Rejects Offer
(Photo: Maja Hitij/Getty Images)
GRUENHEIDE, GERMANY – SEPTEMBER 03: Tesla head Elon Musk talks to the press as he arrives to take a look at the construction site of the new Tesla Gigafactory near Berlin on September 3, 2020 near Gruenheide, Germany . Musk is currently in Germany where he met Tuesday with vaccine maker CureVac, with whom Tesla has a partnership to build devices for producing RNA vaccines, as well as yesterday with German Economy Minister Peter Altmaier.
Another poll appeared on Twitter, and it talked about the purchase of the platform by none other than the world’s top billionaire, Elon Musk. The poll found that the CEO is willing to pay $54.20 per share of the company from his current investors and shareholders and plans to make Twitter private after being a publicly traded company for years.
Chairman of the Board of Kingdom KHC from Saudi Arabia, Prince Alwaleed Talal, expressed his position in rejecting this offer from Musk that he posted on Twitter earlier today. He said the suggested value of $54.20 a share is not close to the intrinsic value of Twitter’s growth, and says it isn’t enough to buy the platform.
Also read: Elon Musk Won’t Join Twitter Board, Confirms CEO Parag Agrawal
Interesting. Just two questions, if I may.
How much of Twitter does the Kingdom own, directly and indirectly?
What is the Kingdom’s view on journalistic freedom of expression?
— Elon Musk (@elonmusk) Apr 14, 2022
Musk asks questions about Saudi Arabia, Kingdom of KHC on Twitter
Musk questions the Saudi Prince and Kingdom of KHC, the holding company that has long owned massive shares on Twitter, for their reason for declining this offer. The tech billionaire asked two questions, one about how many shares Kingdom owns directly and indirectly, and the other about their opinion on journalistic freedom of expression.
Elon Musk and Twitter
After a brief hiatus from tweeting and expressing his views online, Musk dropped bombs earlier today when he talked about a new venture involving Twitter and his massive commitment as a shareholder. Tesla’s CEO offered to buy Twitter and its entirety for $54.20 a share and make the social media platform private.
The deal received many negative reactions and rejections.
Musk seemed to have a lot going for the company, and there were a lot of ventures the billionaire wanted for the platform, and he voiced it all online and through polls. The social media executive and top shareholder also asked if Twitter’s headquarters would become a homeless shelter, and this tweet was removed from his profile.
The main conversation now is to make Twitter private, and the tech CEO brought this issue to the public by asking for a poll about it, while the primary audience is the current shareholders and the Twitter board. The question shook the world and gave them much food for thought, especially when the social media company went public several years ago.
Related article: Elon Musk gets lawsuit from Twitter investor for hiding his 5% stake on Twitter last January
This article is owned by Tech Times
Written by Isaiah Richard
ⓒ 2021 TECHTIMES.com All rights reserved. Do not reproduce without permission.
