{"id":1438002,"date":"2022-04-14T13:14:51","date_gmt":"2022-04-14T17:14:51","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1438002"},"modified":"2022-04-14T13:15:04","modified_gmt":"2022-04-14T17:15:04","slug":"funding-secured-remembering-the-last-time-elon-musk-said-he-was-taking-a-company-private","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/funding-secured-remembering-the-last-time-elon-musk-said-he-was-taking-a-company-private\/","title":{"rendered":"&#039; Funding Secured: &#039; Remembering the Last Time Elon Musk Said He Was Taking a Company} Private"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">34<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ffunding-secured-remembering-the-last-time-elon-musk-said-he-was-taking-a-company-private%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1438002&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p class=\"subheading\">Tesla CEO Elon Musk has reportedly offered to buy 100 percent of Twitter stock at $54.20 per share in cash and restore free speech across the platform. The offer comes several years after Musk infamously tweeted his plan to take Tesla private at $420 a share.<\/p>\n<p>Breitbart News <a href=\"https:\/\/www.breitbart.com\/tech\/2022\/04\/14\/elon-musk-offers-to-buy-100-percent-of-twitter-restore-free-speech\/\">recently reported<\/a> that Tesla and SpaceX CEO Elon Musk has made a public offer to buy 100 percent of Twitter stock at $54.20, an 18 percent premium over Twitter\u2019s closing price yesterday. The purchase would amount to around $43 billion in total if approved.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<div id=\"attachment_20520632\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/04\/Elon-Musk-Twitter-getty.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-20520632\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/04\/Elon-Musk-Twitter-getty.jpg\" alt=\"elon musk\" width=\"640\" height=\"480\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Brendan Smialowski\/AFP\/Getty Images<\/p>\n<\/div>\n<p>Breitbart News reporter Allum Bokhari writes:<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<blockquote>\n<p>In his publicly disclosed communication to the chairman of Twitter\u2019s board,\u00a0<a class=\"x5l\" href=\"https:\/\/seekingalpha.com\/filing\/6367413\" target=\"_blank\" rel=\"noopener external\">which can be read in full here<\/a>, Musk said promoting free speech around the world was the motivation behind his offer.<\/p>\n<p>Musk said he did not believe Twitter could reach its potential for free speech as a publicly owned company, saying \u201cTwitter needs to be transformed as a private company.\u201d<\/p>\n<p>\u2026<\/p>\n<p>Twitter previously offered Musk a seat on Twitter\u2019s board in return for a guarantee that the billionaire would not buy more than 14.9 percent of shares in the company. 15 percent is a crucial threshold that gives shareholders more legal rights in some jurisdictions.<\/p>\n<p>On March 25, Elon Musk conducted a poll on Twitter asking followers if they believed the platform \u201crigorously adhered\u201d to the principle of free speech, which he said was \u201cessential to a functioning democracy.\u201d<\/p>\n<\/blockquote>\n<p>Musk\u2019s <a href=\"https:\/\/seekingalpha.com\/filing\/6367413\">letter<\/a> to Twitter board members can be seen below:<\/p>\n<blockquote>\n<p>Bret Taylor<\/p>\n<p>Chairman of the Board,<\/p>\n<p>I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy.<\/p>\n<p>However, 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.<\/p>\n<p>As a result, I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced. My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder.<\/p>\n<p>Twitter has extraordinary potential. I will unlock it.<\/p>\n<p>\/s\/ Elon Musk<br \/>Elon Musk<\/p>\n<\/blockquote>\n<p>This isn\u2019t the first time that Musk has discussed taking a public company private. In 2018, Musk infamously tweeted that he would be taking Tesla private at $420 a share (the specific price being a marijuana reference also reflected in Musk\u2019s Twitter bid) and that he had \u201cfunding secured\u201d to do so.<\/p>\n<div id=\"attachment_9300724\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/04\/elon-musk-tesla-smoke.jpg\"><img decoding=\"async\" class=\"size-full wp-image-9300724\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/04\/elon-musk-tesla-smoke.jpg\" alt=\"Elon Musk, Tesla chairman, smokes a \" spliff \/><\/a><\/p>\n<p class=\"wp-caption-text\">(Joe Rogan Experience\/YouTube)<\/p>\n<\/div>\n<p>Shortly after the announcement, Musk backed down stating that he would not be taking the electric car company private, writing a lengthy post about why he had made such a sudden change. The <a href=\"https:\/\/www.breitbart.com\/tech\/2018\/08\/25\/elon-musk-changes-his-mind-on-taking-tesla-private\/\">post<\/a> came shortly after a\u00a0<a href=\"https:\/\/www.breitbart.com\/tech\/2018\/08\/24\/tesla-insiders-the-company-is-a-sht-show-under-elon-musk\/\">damning report<\/a>\u00a0by the\u00a0<em>New York Post<\/em>\u00a0featuring quotes from Tesla insiders which described the company as a \u201csh*t show\u201d under Musk. From building a production line in a tent to produce 5,000 cars a week,\u00a0<a href=\"https:\/\/www.breitbart.com\/tech\/2018\/08\/22\/report-tesla-leaks-reveal-only-14-of-cars-pass-first-inspection\/\">4,300 of which needed reworking<\/a>, to Musk facing an\u00a0\u00a0<a href=\"https:\/\/www.breitbart.com\/tech\/2018\/08\/13\/elon-musk-funding-secured-not-even-close\/\">SEC investigation over his \u201cfunding secured\u201d tweets,<\/a>\u00a0Tesla faced some tough months.<\/p>\n<p>Musk was <a href=\"https:\/\/www.breitbart.com\/politics\/2018\/09\/27\/sec-sues-elon-musk-accuses-him-of-making-false-statements-about-taking-tesla-private\/\">eventually sued by the Securities and Exchange Commission<\/a> which alleged that he committed securities fraud. Musk finally agreed to an SEC settlement after initially refusing and both he and Tesla paid a $20 million fine; but in February of this year, it was <a href=\"https:\/\/www.breitbart.com\/tech\/2022\/02\/08\/hypemaster-musk-faces-scrutiny-sec-delivers-another-subpoena-to-tesla-over-elons-social-media-antics\/\">reported<\/a> that Musk was issued another subpoena by the SEC which was attempting to determine whether he had complied with the settlement agreement.<\/p>\n<p>Whether Musk will be able to successfully convince the board of Twitter to sell him the social media platform remains to be seen.<\/p>\n<p><strong><i>Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship. Follow him on Twitter\u00a0<\/i><i><a class=\"x5l\" href=\"http:\/\/twitter.com\/lucasnolan\" target=\"_blank\" rel=\"noopener external\">@LucasNolan<\/a>\u00a0<\/i><i>or contact via secure email at the address\u00a0<a class=\"x5l\" href=\"mailto:lucasnolan@protonmail.com\" target=\"_blank\" rel=\"noopener external\">lucasnolan@protonmail.com<\/a><\/i><i><\/i><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tesla CEO Elon Musk has reportedly offered to buy 100 percent of Twitter stock at $54.20 per share in cash and restore free speech across the platform. The offer comes<\/p>\n","protected":false},"author":28,"featured_media":2315279,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1438002","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1438002","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/28"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1438002"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1438002\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1438002"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1438002"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1438002"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}