Elon Musk offers to buy Twitter outright for $41 billion

Elon Musk, billionaire CEO of Tesla and SpaceX, has offered to buy the social media company Twitter, a regulatory filing showed on Thursday.

The filing showed Musk was offering to pay a total of $41.39 billion (€37.92 billion) to buy the platform.

That amounts to $54.20 per share, up 38% on the price per share before Musk bought over 9% of shares on April 1. Twitter’s share price jumped markedly in pre-market trading, already approaching the value Musk had offered.

“Since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company,” Musk said in a letter to Twitter Chairman Bret Taylor, seen by Reuters.

“My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder,” Musk said.