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Elon Musk Offers To Buy Twitter For $43 Billion | The Breakdown By My First Million

Name: Elon Musk Offers To Buy Twitter For $43 Billion | The Breakdown By My First Million
Uploaded: 2022-07-05T21:32:21.524Z
Duration: 42 min 25 s
Description: Elon Musk offered to buy 100% of Twitter at $54.20 per share in cash after buying 9% of the company and then declining a board seat. The hosts analyze the move as a baller troll that lets Musk profit from stock appreciation even if the deal fails, while also questioning whether the acquisition would be good for Musk personally or for Twitter.

From My First Million · Published Jul 5, 2022 · Watch on YouTube

TL;DR

Elon Musk offered to buy 100% of Twitter at $54.20 per share in cash after buying 9% of the company and then declining a board seat. The hosts analyze the move as a baller troll that lets Musk profit from stock appreciation even if the deal fails, while also questioning whether the acquisition would be good for Musk personally or for Twitter.

Key insights

Musk's letter to the board includes the line “I have moved straight to the end,” which the hosts call a new negotiation phrase.
The offer price of $54.20 is a reference to Musk’s earlier “funding secured” tweet about taking Tesla private at $420; adding a “5” in front lets him do it the official way.
Musk could profit nearly $1 billion by selling his shares if the board rejects the offer, because the news already drove the stock up.

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