After buying a 9.2% stake, Elon Musk vows to buy 100 percent shares. See How Many Shares of Twitter Are There and much more.
Have you heard the news that the world’s richest man, Elon Musk, has decided to buy cent percent shares of Twitter? The billionaire made this announcement days after he had bought 9.2 percent shares of Twitter and later on refused to join the Board of Directors of the social media giant.
Twitter has a huge influence in the United States and Canada. Our article focuses on How Many Shares of Twitter Are There and how it would be bought if agreed to by the shareholders in the general meeting of the Board of Directors.
Why Does Elon Musk Want to Buy Twitter’s Shares?
If we go a little back in time, we would see that Elon Musk had always been concerned about the freedom of expression on Twitter and how Twitter discriminates against its users. Recently, we have seen reports alleging that Twitter does not provide a transparent mechanism on whom to ban, and the total discretion is with Twitter only.
If we see How Many Total Shares of Twitter Are There, we would conclude that Twitter has a market cap of 37.01 Billion with an enterprise value of 36.17 Billion. Therefore, after Elon Musk had bought a 9.2 percent passive stake in the company, he acquired 73,486,938 shares. Now the billionaire wants to buy hundred percent shares of Twitter and had offered $41 billions for it. When asked, he said that he sees Twitter as a potential platform for free speech around the globe. He also said that it is important to keep Twitter unbiased for a healthy democracy.
To Calculate How Many Shares of Twitter Are There?
This statement of Elon Musk could indicate former President Donald Trump’s ouster from Twitter. Undoubtedly, how Twitter had banned Trump is completely unrighteous and grossly unjust. However, no one has ever questioned the decision, and now Elon Musk has come to question the transparency that Twitter should have.
If we see pre-market trading, Twitter traded at $50.97 per share and now is at $54.20 per share. After acquiring a 9.2 percent stake, Elon Musk has become the company’s largest shareholder. In the times to come, Elon could influence Twitter’s decision and hopefully in a positive way.
So, now we have seen How Many Shares Does Twitter Have, and we should now focus on whether the Board of Directors of Twitter would accept Musk’s proposal of a 100% stake in Twitter. Twitter will be deliberating on this question. The shareholders would face a dilemma as Musk has also announced that he would reconsider his position as a shareholder if his offer is not accepted.
Conclusion
With Twitter’s shares now running at $54.20, Elon Musk has bought a 9.2 percent stake in the company. Now, he announced his intention of buying a hundred percent stake in Twitter. While this proposal is being debated and deliberated, the company’s shares are soaring.
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