Musk clashes with top Saudi investor over Twitter takeover bid


Tesla and SpaceX CEO Elon Musk on Friday attacked Saudi Prince Alwaleed bin Talal, a major Twitter investor who rejected Musk’s hostile bid to acquire 100% of the micro-blogging platform for $43 billion. of dollars.

Questioning Saudi Arabia’s own media laws, Musk tweeted: “Just two questions, if I may. How much of Twitter does the Kingdom own, directly and indirectly? What is the Kingdom’s view on freedom expression of journalists?



Musk reacted after the Saudi prince rejected the Tesla CEO’s cash offer of $54.20 per Twitter share.

“I don’t believe the bid from @elonmusk ($54.20) comes close to the intrinsic value of (Twitter) given its growth prospects. Being one of the largest and long-term shareholders from Twitter, @Kingdom_KHC and I reject this offer,” the prince tweeted.

Alwaleed, who heads the Kingdom Holding Company and is a nephew of Saudi Arabia’s King Salman, said he was one of Twitter’s oldest and largest shareholders, Middle East Eye reports.

In 2015, he and his company held a 5.2% stake in the social media platform.

Musk launched a new poll on Friday, with a slogan that “taking Twitter privately at $54.20 should be up to the shareholders, not the boarda.

“He will endeavor to retain as many shareholders in privatized Twitter as permitted by law,” he tweeted.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear reader,

Business Standard has always endeavored to provide up-to-date information and commentary on developments that matter to you and that have wider political and economic implications for the country and the world. Your constant encouragement and feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these challenging times stemming from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative opinions and incisive commentary on relevant topical issues.
However, we have a request.

As we battle the economic impact of the pandemic, we need your support even more so that we can continue to bring you more great content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of bringing you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism we are committed to.

Support quality journalism and subscribe to Business Standard.

digital editor

Comments are closed.