In the notification made to the US Securities and Exchange Commission (SEC), Musk’s letter on the subject was shared. A statement came from Twitter after Musk’s letter. In the statement, it was noted that the letter submitted to the SEC was received. “The company’s intention is to close the transaction at $54.2 per share,” the statement continued.

Twitter shares were halted after Bloomberg reported that Musk plans to re-acquire the social media platform at $54.2 per share. The company’s shares gained close to 22 percent after reopening.

This move by Musk increased the price of Doge Coin. Currently, there is an 8% increase. Of course, these prices may increase or decrease.

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The most important factor that makes Twitter so powerful is the free expression of ideas. Moreover, the 140 character limit allows users to express themselves in the best way with short words. There is even a perception that more elite people use Twitter for this reason. Of course, this is a superstition. As with all social media sites, it is possible to find all kinds of people on Twitter.

Let’s come to the issue of Elon Musk and Twitter. Musk has made a name for himself with the investments he has made. Space studies, car manufacturing, crypto money, green energy etc. It seems that it set out to invest in every field that people are interested in. It’s like getting all the attention rather than making money. The basis of this desire is to buy a social media site.

Instagram is owned by Facebook and Youtube is owned by Google. While these companies are quite costly to acquire, the easiest social media site to have among them seems to be Twitter. That’s why Elon Musk has a goal of owning Twitter.

First rejection of Elon Musk’s Twitter offer

He managed to become a 9% shareholder of Twitter without telling anyone. However, his offer for more was not considered sufficient. Moreover, it is very difficult to take this power from the hands of Twitter shareholders, who have billion-dollar fortunes.

Alwaleed Bin Tallal is an investor from Saudi Arabia. He is ranked 45th in the real-time list of the richest people in the world published by the business magazine Forbes, with a fortune of 17.2 billion dollars. He is also a 5% shareholder of Twitter. He was the first to reject Elon Musk’s offer for Twitter shares.

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