Elon Musk explains the keys to his offer to Twitter

There is no doubt that Elon Musk is a lucky man. hours after shaking to the economic world with its offer to buy Twitterthe billionaire and owner of Tesla Motors has appeared in a TED talk to talk about his life with Asperger syndrome, his business vision and even the worst decision he has made (spoilers: fire soon one of the founders of the car company). Who wouldn’t ask him about his hostile bid to buy the technology platform? The commissioner of the conferences, Chris Anderson, launched the obligatory question of the day. “It is very important that freedom of expression is inclusive there,” Musk replied, referring to his interest in Twitter, during the talk held in the Canadian city of Vancouver.

“A strong intuition tells me that having a public platform that is trusted by the majority and is very inclusive is extremely important for the future of civilization. This is not an economic issue, “said the 50-year-old businessman whose personal fortune exceeds 260,000 million dollars (around 240,000 million euros) according to Bloomberg. These arguments come hours after he made it known on Twitter — where he has more than 80 million followers — your offer to take over the company in exchange for 43,400 million dollars (about 40,000 million euros).

Debate on freedom of expression

Musk’s offer has stirred the debate on freedom of expression in the United States at a time of heightened polarization. Twitter was one of the first technology companies to review its comment moderation policies and one of those that retaliated after the storming of the Capitol by supporters of former President Donald Trump on January 6, 2021. This has been a topic in which the also owner of the SpaceX aeronautics and the boring company The Boring Company has insisted, since it was revealed who bought 9.2% of the shares of San Francisco Tech. “When in doubt, we should allow the discourse to exist. But if it’s a gray area, I’d say I’d rather the tweet exists… Obviously if there’s too much controversy, you’re not necessarily going to promote that message. I don’t have all the answers,” shared Musk, who was tweeting all afternoon as the press claimed that his offer hadn’t convinced everyone on Twitter’s board of directors. “If the current board takes actions contrary to the interests of the shareholders, they would be breaching their fiduciary obligations,” he commented. in one of his messages. After his entry into the company, the board offered him a seat among its 11 directors. On Sunday, Parag Agrawal reported that the tycoon turned down the invitation. This Thursday he revealed the ace he had up his sleeve: a hostile takeover bid to gain full control of the network.

The visionary businessman has explained in the TED forum that he has a plan B if the investor vote is not opened and Twitter says no. Musk has already smelled the possibility of a refusal and has feigned that this has been his final offer and will not improve the amount. On Thursday afternoon (night in mainland Spain) he went back to the social network to talk with one of the company’s main shareholders. Saudi Prince Alwaleed Bin Talal, owner of 5% of the technology through his Kingdom Holding conglomerate, published that the offer was not close to “intrinsic value given growth projections.” Musk asked him what he thinks on the freedom of expression of journalists. Talal is like Musk himself, a user who likes to confront. In 2015, he told Donald Trump that he was a “disgrace” for the Republican Party and, by extension, the entire country.

He knows in depth all the sides of the coin.

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In fact, if there is a sector that has been enthusiastic about the idea of ​​Musk becoming a baron of the technological media, it is precisely Trumpism, the main victim of the moderation policies of Facebook and YouTube, in addition to Twitter. The radical sectors of the right have chosen in recent times to move to fringe networks such as Parler, Gttr, Rumble and Truth Social, expressly endorsed by the former Republican president.

Musk is taking advice from Morgan Stanley, which could help him with credit lines if the deal goes through. The billionaire businessman tweeted part of a recent analysis prepared by the institution that recommends selling Twitter titles. The entrepreneur has offered 54.20 dollars per title, a veiled nod to marijuana (The 420, April 20, is a reference to weed in America.) The New York newspaper assures that despite Musk’s attempts to make the operation transparent, some investors are negotiating support to make the offer more irresistible. Musk’s new soap opera has only just begun.

Musk already talks about his new crusade with the same intensity with which he referred to the importance of exploring space, a SpaceX mission. Closing his talk with TED, the entrepreneur put on his visionary suit with which he feels so comfortable: “I think we should fight for a good future for humanity. We must be optimistic and fight to make that future optimism happen.”

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Elon Musk explains the keys to his offer to Twitter