Friday, June 24, 2022

Elon Musk takes a jab on Twitter against Saudi Prince

On Friday, the CEO of Tesla and SpaceX’ Elon Musk’ came on Twitter and criticized Saudi Prince Alwaleed bin Talal, a major Twitter investor who rejected Musk’s hostile offers to receive 100 percent of the micro-blogging platform for $43 billion.

Musk, in a tweet, questioned Saudi Arabia’s own media restrictions, saying: “Please allow me to ask two questions. What percentage of Twitter does the Kingdom control, both directly and indirectly? What are the views of the Kingdom on journalistic freedom of expression?”

Musk reacted because Saudi Prince rejected the Tesla CEO’s cash offer of $54.20 per Twitter share.

And after that, Prince tweeted, “I don’t believe that the proposed offer by @elonmusk ($54.20) comes close to the inherent value of (Twitter) given its growth prospects. Being one of the largest & long-term shareholders of Twitter, @Kingdom_KHC & I reject this offer.”

According to Alwaleed, who runs the Kingdom Holding Company and is a nephew of Saudi Arabia`s King Salman, he was one of the kingdom’s largest and oldest shareholders on Twitter.

Some seven years back, in 2015, he and his company held a 5.2 percent stake in the social media platform.

Musk launched a fresh poll on Friday with the slogan “taking Twitter private at $54.20 should be up to shareholders, not the board.”

Will attempt to keep as many shareholders in privatized Twitter as allowed by law,” he tweeted.

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