Elon Musk reacts after Saudi Arabia rejected his Twitter takeover bid

Saudi Arabia REJECTS Elon Musk's proposed Twitter bid

Saudi Arabia REJECTS Elon Musk's proposed Twitter bid. Image: YouTube

Elon Musk reacts after Saudi Arabia rejected his Twitter takeover bid.

One of Twitter’s largest shareholders, Saudi Prince Al Waleed, had earlier rejected the bid from the Tesla CEO.

EARLIER today, Thursday, April 14, it was revealed that Elon Musk had launched a $43 billion hostile takeover to buy Twitter, however, one of the social media platform’s largest shareholders, Saudi Arabia prince, Al Waleed, has rejected the bid from the Tesla CEO.

Now the ‘richest man in the world‘ has reacted to the prince, asking him about his stake in the company and whether he believes in free speech.

“Interesting,” the SpaceX CEO said.

“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?” Musk wrote on April 14.

His response comes after Al Waleed rejected Musk’s proposed takeover bid for the social media platform.

The prince said in a tweet: “I don’t believe that the proposed offer by Elon Musk ($54.20) comes close to the intrinsic value of Twitter given its growth prospects.

“Being one of the largest & long-term shareholders of Twitter, @Kingdom_KHC & I reject this offer,” he said.

After the news of the takeover was announced, Musk said Twitter needed to go private to go through the changes that need to be made.

“I would need to reconsider my position as a shareholder,” said Musk if his offer is not accepted.

“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,” Musk said in a letter to Twitter Chairman Bret Taylor.

Following the rejection from Saudi Arabia people have taken to Twitter to react to the news.

American media personality Michael Cernovich said: “Can’t imagine why Saudi Arabia would oppose twitter becoming a free speech platform.”

During a Ted Talk on April 14, Elon Musk said free speech is when “someone you don’t like is allowed to say something you don’t like.”

“The civilisational risk is decreased the more we can increase the trust of Twitter as a public platform,” he said at the TED2022 Conference in Vancouver. “Twitter has become kind of the de facto town square, so it’s really important that people have both the reality and perception that they are able to speak freely, in the bounds of the law.”

According to the Wall Street Journal, Twitter is said to be weighing options to prevent Elon Musk from increasing his stake in the company significantly.

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Written by

Matthew Roscoe

Originally from the UK, Matthew is based on the Costa Blanca and is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at editorial@euroweeklynews.com.