Musk clashes with Prince over Twitter takeover

(journalist)
– In the latest twist in Elon Musk’s quest to buy Twitter, the Tesla CEO comes up against a billionaire Saudi prince. Musk fired back on Thursday after Prince Alwaleed bin Talal, a major Twitter shareholder, said he was rejecting Musk’s takeover bid, al-Jazeera reports. “I don’t believe Elon Musk’s offer ($54.20 per share) comes close to Twitter’s intrinsic value given its growth prospects,” Prince said. tweeted. He said that as “one of Twitter’s largest and longest-term shareholders” he was rejecting the offer, Reuters reports. The prince, nicknamed the “Arabian Warren Buffett”, is the CEO and majority owner of Kingdom Holding Company, which has significant stakes in many large companies.

Musk called the tweet “interesting.” He mentioned he had two questions in response: “How much of Twitter does the Kingdom own, directly and indirectly? What is the Kingdom’s opinion on freedom of expression for journalists? Human rights activists shared Musk’s tweet, noting that the kingdom is notorious for suppressing dissent. (And the US has linked the murder of journalist Jamal Khashoggi to the Saudi Crown Prince). Middle Eastern studies, tweeted.

Musk also highlighted a report of two former Twitter employees who were arrested in 2019 for allegedly using their roles at the company to obtain information about Saudi dissidents. In his filing announcing a hostile takeover bid, Musk said “free speech is a societal imperative for a functioning democracy.” Later Thursday, he said he wasn’t sure he could withdraw the $43 billion offer. the the wall street journal reports that recent filings show Musk was “momentarily” the largest shareholder in Twitter, but that stock is now held by investment firm Vanguard Group, with 10.2% of the shares. (Read more articles on Twitter.)

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