Elon Musk Is Not Sure About Twitter Take-Over

Web Desk — Elon Musk, who wants to buy Twitter for $43 billion, expresses doubt that he will be able to acquire it.

Musk said while speaking at the TED2022 conference in Vancouver, “I am not sure that I will actually be able to acquire it.”

On Thursday, the world’s richest man offered a $43 billion bid for the entire Twitter company, in a take-it-or-leave-it offer.

The Tesla and SpaceX owner has already lost his position as Twitter’s largest shareholder after his attempts to buy it for $43 billion.

Earlier in April, the Tesla and SpaceX founder said he had become Twitter’s largest shareholder, having built a 9.2% stake in the micro-blogging platform.

However, he has now lost the top spot, as asset manager Vanguard Group said in a filing lodged recently with the US Securities and Exchange Commission that, as of April 8, its funds now own a 10.3% stake in the company that is worth $3.6 billion based on Friday’s close.

Musk is still the largest individual shareholder, and Twitter co-founder Jack Dorsey is the second largest, but he said on Thursday that he is “not sure” whether his takeover bid will be successful, hours after making the offer.

Musk said that he had a “Plan B” if his bid was unsuccessful, but did not elaborate on what that would be.

Explaining his intuition to buy Twitter Musk said, “This is not a way to make money.” “My strong intuitive sense is that having a public platform that is maximally trusted and broadly inclusive is extremely important to the future of civilization.”

In a letter to Twitter’s chairman on Wednesday, Musk said his $54.20-per-share offer was his “best and final” offer. Musk said that Twitter had immense potential and he will unlcok it.