Tesla founder Elon Musk has publicly embarrassed Saudi Prince Alwaleed bin Talal after the latter took to Twitter to announce that he had rejected the US billionaire’s offer to buy 100% stakes in Twitter. Talal, who reportedly owns over 5% stakes in Twitter, had said that Musk’s offer was not an accurate valuation of the social media platform.
Talal had tweeted, “I don’t believe that the proposed offer by @elonmusk ($54.20) comes close to the intrinsic value of @Twitter given its growth prospects.”
The tweet shared by Talal indicated that he and his kingdom owned 5.2% shares in Twitter.
“Being one of the largest & long-term shareholders of Twitter, @Kingdom_KHC & I reject this offer,” Talal tweeted.
— الوليد بن طلال (@Alwaleed_Talal) April 14, 2022
Musk decided to use the opportunity to embarrass Talal and his kingdom for the lack of media freedom and free speech in Saudi Arabia. He asked, “Interesting. Just two questions, if I may. How much of Twitter does the Kingdom own, directly & indirectly? What are the Kingdom’s views on journalistic freedom of speech?”
Interesting. Just two questions, if I may.
How much of Twitter does the Kingdom own, directly & indirectly?
What are the Kingdom’s views on journalistic freedom of speech?
— Elon Musk (@elonmusk) April 14, 2022
Musk on Thursday offered to buy the 100% stakes in Twitter for $54.20 share days after he declined to join the company’s board. This meant that the Tesla founder had valued Twitter at $43 billion.
Musk shad aid that he invested in Twitter as he believed in its ‘potential to be the platform for free speech around the globe.’ I believe free speech is a societal imperative for a functioning democracy,” he added.
Musk, however, had made it clear that the offer made by him was the ‘best and final’, adding that he would be forced to reconsider his position as a stakeholder in Twitter if his offer was not accepted.
“My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a stakeholder,” he had said.
The maverick billionaire businessman added that Twitter had ‘extraordinary potential’ and he will ‘unlock it.’