Elon Musk’s offer to buy Twitter was turned down by Saudi Prince Al Waleed bin Talal, one of Twitter’s largest shareholders. ‘I absolutely do not believe in Elon Musk’s proposal,’ he tweeted. @Kingdom KHC and I, as one of Twitter’s largest and longest-standing shareholders, reject this offer.’
The Saudi Prince’s tweet came after the Twitter board meeting. The meeting was called in response to Elon Musk’s offer of $43 billion for 100% ownership of the microblogging platform.
Musk had two questions for Musk.
Elon Musk asked the Saudi Prince two questions after he declined the offer. The first question is how much of Twitter is owned by the Prince’s Kingdom company, both directly and indirectly, and what are the Prince’s views on journalistic freedom of expression?
A Saudi prince owns $1 billion worth of stock.
The Kingdom Holding Company, owned by Saudi billionaire Prince Al Waleed bin Talal, owns $1 billion in Twitter stock. He also owns substantial stakes in the Four Seasons hotel chain, Uber, Lyft, and Citigroup. In 2011, the Kingdom Holding Company purchased Twitter’s stock.
An offer to buy Twitter for $43 billion has been made.
Elon Musk, the founder of Tesla, had offered $43 billion to buy Twitter Inc. (about Rs 3.2 lakh crore). Musk is willing to pay $ 54.20 per share in cash for this. In a filing with the US Securities and Exchange Commission, Musk revealed details about the offer.