Elon Musk offers $43 billion to buy Twitter

Elon Musk, the founder of Tesla and SpaceX, said that the social network has extraordinary potential and will reveal it.

Elon Musk has offered to buy Twitter for $54.2 per share . Citing documents submitted to the US Securities and Exchange Commission , Bloomberg reported that if the deal is completed, the entire company will be worth approximately $43 billion .

Twitter shares soar after Musk’s offer

At the time of this writing , Twitter stock was valued at $45.85 and the social network had a market capitalization of $36.71 billion . Shares of the social media company have risen 18% since Musk’s offer .

According to Bloomberg, Elon Musk’s personal wealth is currently around $260 billion . Let’s remind you that in early April, Musk bought a 9.2% stake in Twitter, and then the company offered him a board membership . However, the founder of Tesla and SpaceX had decided to reject this offer.