Elon Musk and Justin Sun Bid Offers to Buy Twitter

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Elon Musk, the CEO of Tesla, offered to buy the social media company for $54.20 per share in cash.

Since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company, & quote Musk said in a letter to Twitter Chairman Bret Taylor.

"My offer is my best and final offer and if it is not accept I would need to reconsider my position as a shareholder," Musk Said

Previously, Musk recently acquired a 9.2% stake in Twitter and also announced to join Twitter’s board of directors. However, Musk Decided Not to Join the Twitter Board.

Former Tron CEO Justin Sun has also offered to buy Twitter after the news of Musk's offer was announced. Sun offered $60 per share.

Sun clarified that he wants to move Twitter offshore and make its work force decentralized. Moreover, he aims to make twitter “more open and decentralized Web3 framework that is open source and friendly to developers.”