Tesla boss Musk’s has offered £31 billion to takeover Twitter

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Musk said: “Twitter has extraordinary potential. I will unlock it.” It recently emerged that Musk was Twitter’s biggest shareholder after he built up a stake in the firm.

He said that his offer for the company is final, and threatened to dump his stake if the takeover bid is rejected.

South African-born Musk, 50, said: “I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy.

“However, since making my investment I now realise the company will neither thrive nor serve this societal imperative in its current form.

“Twitter needs to be transformed as a private company.”

Twitter has yet to respond to Musk’s bid. Earlier this month, it had offered him a seat on its board, which would have barred him from making his bid.

Musk declined and Twitter boss Parag Agrawal said it was “for the best”.

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