After the world's richest man announced that he would buy all of Twitter's shares, he was rejected by Twitter's other major shareholder, Saudi Prince Talal. At present, Musk has held 9.2% of Twitter's shares, becoming Twitter's largest shareholder, and Twitter immediately announced that Musk became the company's executive director. But Musk later resigned, and then announced that he would buy 100% of Twitter at a price of $54.20 per share, and if other shareholders did not accept this price, any future decisions of Twitter would be affected by him.
The Prince of Twitter refused to sell his Twitter shares, and Musk was furious: How much does Saudi Arabia hold?
Why is Musk so obsessed with buying a stake in Twitter? Isn't it enough to become the largest shareholder and an executive director? According to Musk, it not only transformed it into a private company and allowed users to build trust, but also bluntly criticized Twitter for taking account blocking measures to limit the spread of misinformation or amplify violent speech. Musk said the full acquisition would convert the San Francisco headquarters into a homeless shelter. As a result, the poll for the acquisition of Twitter agreed to reach 84%.
Moreover, what makes Musk unbearable is that he only has 81 million fans and 19,000 Tweet posts, but some people even send only one message a year, but have tens of thousands of fans, such as Taylor Swift has not released anything in the past three months but has 108 million fans, Justin Bieber has released a tweet all year, but gained 114 million fans, such users are wasting resources and bringing Twitter to the brink of death. However, some people agree and others oppose, and Prince Twitter is one of them.
Saudi Arabia, one of Twitter's largest holdings, scoffed at Musk's proposal in a tweet on Thursday and objected. He said Musk's $43 billion bid to buy the company was a far cry from Twitter's intrinsic value. The prince also shared his own tweet in 2015, in which his company's total stake in Twitter had risen to 5.2 percent, and said Musk didn't align with Twitter's true values and rejected Musk's takeover. As a result, Musk made a response of "how much Saudi Arabia holds".
At present, Twitter has also launched a "poison pill plan" to deal with Musk's hostile takeover and equity dilution plans. A scramble is on the horizon, and whether Musk can finally complete the acquisition of a company that once silenced him will depend on Musk's influence in his own company and his ability to persuade shareholders.