Elon Musk has recently revealed he is "not sure" about a successful 100% acquisition of the social media platform, Twitter.
Musk, famously known as SpaceX and Tesla's CEO, has made public his desire to buy Twitter for $43 billion. However, He is aware that the company's board might not favor his decision.
Elon Musk Twitter Plan B
Elon Musk was first heard addressing this news publicly at the TED 2022 conference in Vancouver. Musk was invited to the event himself for a speaking engagement. He briefly stated that he was "not sure" about the offer he made to Twitter's board, implying that he had a high possibility of being turned down.
According to the BBC, Elon Musk stated at the TED 2022 conference, "I am not sure that I will actually be able to acquire it."
Moreover, he stated in addition that in the event that his bid for Twitter is rejected, he has a "Plan B" to proceed with a larger stake in the social media company. Although he has provided no further details on what that might entail.
Musk expressed his belief that Twitter should be more open and transparent, "I think it's very important for there to be an inclusive arena for free speech."
It should be noted that Musk wrote a letter to Twitter's board to acquire the remaining shares of the company, buying them for $54.20 a share, totaling $43 billion.
This news only came to the public due to the SEC filing of Twitter. When asked about the resurfacing news, the social media company did not deny and confirmed that they received Musk's offer and stated that they would deliberate it carefully.
Largest Twitter Shareholder Is Not Musk
As previously reported, Musk recently purchased the largest stake in the social media company. Following Musk's purchase of 9.2% of the company's stock, Twitter's new CEO, Parag Agrawal, invited Musk to join the company's board of directors.
Musk was warmly welcomed by Twitter co-founder Jack Dorsey and new CEO Parag Agrawal, who were both delighted to have Musk on board. Musk was even appointed to serve on the board of directors by Agrawal.
The SpaceX and Tesla CEO have been, in the past, consistently vocal about their desire to build a social media platform for an "inclusive arena for free speech." And it looked just like that when Musk became the largest shareholder of the company, or so he thought.
As Business Insider reports, his position has now been displaced by asset manager Vanguard Group, which recently disclosed in a filing with the Securities and Exchange Commission that, as of April 8, its funds owned a 10.3% stake in Twitter, which was valued at $3.6 billion.
Musk stated that taking over Twitter is not his way to make money, but instead, his "strong intuitive sense is that having a public platform that is maximally trusted and broadly inclusive is extremely important to the future of civilization."
Twitter CEO Parag Agrawal Clears the Air
Amidst the whirlwind of news and controversies that involves Twitter, the company's CEO, Parag Agrawal, while speaking at an all-hands meeting with employees on Thursday, sought to reassure employees that the company was not being "held hostage" by news of Elon Musk's offer to purchase the company.
The CEO launched a 25-minute Q&A session with its employees after knowing that a lot of them had several reactions, most of which were anger and confusion about what was to happen with the company. According to Reuters, Agrawal expressed his appreciation for the employees' efforts and urged them to maintain their focus.
