Saudi Prince refuses to Elon Musk’s offer for Twitter [TKB Tech]

Tesla CEO Elon Musk bought Twitter’s 9.2% stake earlier this month and now wants Twitter to be completely under his control. Meaning he has offered to buy Twitter. Since then, there has been constant discussion on Twitter and Tesla CEO, but Musk has got the first blow on this matter. Prince Alwaleed bin Talal of Saudi Arabia has rejected Musk’s offer. Musk has valued the company at about $ 43 billion.

Saudi prince rejected the offer?
Alwaleed bin Talal is one of the major shareholders of Twitter and has rejected Elon Musk’s offer to buy Twitter. Prince has given this information on Twitter. “I can’t believe that what Elon Musk offered for $54.2 per share equals its intrinsic value given the growth,” he said. He said that being one of the largest and long term shareholders of Twitter, I reject this offer.

Musk bought such a stake
Elon Musk is currently the largest stakeholder in Twitter. He has bought about 9.2% stake in the company earlier this month. For the last few days, he was constantly raising questions on the social media platform regarding Twitter. After this people were speculating that he might launch a new social media platform. However, the news of Elon Musk buying Twitter Skate in the SEC listing surprised people.

Why want to buy Twitter?
After becoming the biggest skateholder, the company offered Elon Musk to join the board, but he refused. However, now he wants to buy Twitter. The Tesla CEO believes that Twitter has the potential to become a global platform for free speech. If Elon Musk, who is active on Twitter, buys Twitter, then we can see many big changes in it.