Multi Billionaire and business tycoon Elon Musk who has recently refused to join Twitter’s board of directors team now offers $43.39 billion in cash in cash to buy 100 percent of the equity stake in Twitter. Musk said the social media company needs to become private if it wants to see some good changes in upcoming times.

Twitter Inc. also confirmed the news and said in a regulatory filing that the billionaire, who is the also biggest shareholder in the company wrote the letter to the firm on Wednesday, under which he has offered the board to buy the remaining shares of Twitter that he doesn’t own.  

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Musk in a letter told the Twitter’s board chairman, Bret Taylor, that he has offered to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before he began investing in Twitter and a 38% premium over the day before his investment was publicly announced. He further added that his offer is best and final, if not accepted, then he would need to mark his designation as a shareholder in the firm, he added.

Take a look at Elon Musk Tweet

Space X CEO said that he has invested in Twitter because somewhere deep down he thought the platform has potential for free speech for all the users across the globe. He said free speech is a societal imperative for a functioning democracy. However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form, he added.

Musk has amassed over 80 million followers since joining the site in 2009 and has used the platform to make several announcements, including teasing a go-private deal for Tesla that landed him in hot water with regulators.

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