- Twitter user @zerohedge provided documents indicating the sold out.
- According to Tesla CEO, Twitter is “important to the functioning of democracy”.
Tesla CEO Elon Musk has pledged to battle for the “future of civilization” after making an outrageous $43 billion (£33 billion) offer to acquire Twitter. According to Tesla CEO Elon Musk, Twitter is “important to the functioning of democracy” who wants to take the social media network private. The board of Twitter prepared to battle the takeover bid by the world’s wealthiest man, while one of the company’s largest shareholders stated he was also opposed to Musk’s ambitions.
No Monetary Motive
Elon Musk, 50, asserted that he could afford the buyout but confessed that “I’m not sure that I will be able to acquire it.” Musk. He stated in Vancouver that Twitter’s “public square” should be protected not to make money from the investment.
Musk’s $43 billion offer to acquire Twitter was officially rejected by Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud. Despite having a 95% stake in the Kingdom Holdings Company, the prince sold all his shares on Twitter in 2019. As a result of Prince Alwaleed rejecting Elon Musk’s offer, Twitter user @zerohedge provided documents indicating that the Saudi royal has had no ownership in the company for years. Alwaleed’s stocks were sold immediately after his release from Riyadh Ritz Carlton’s incarceration.
Dear @Alwaleed_Talal this may come as a shock to you, but you sold all your Twitter shares in 2019, not long after were were put under Ritz Carlton hotel arrest. cc: @elonmusk https://t.co/qJn4qwk6O0 pic.twitter.com/15muAHYkdR— zerohedge (@zerohedge) April 14, 2022
Several other captives had been released at the time, according to The Guardian, who said that they had “sold their freedom for cash, real estate, and other valuables.” Before the company’s worldwide success, Prince Alwaleed acquired Twitter stock in 2011. He and the KHC gained 5.2 percent of Twitter’s stock in 2015.