Shareholder Saudi prince rejects Elon Musk’s bid to buy Twitter
Prince Alwaleed bin Talal, one of the largest shareholders of the social media giant, believes Twitter is worth more than Musk is offering.
A Saudi prince with a major stake in Twitter rejected Elon Musk’s bid to buy Twitter today.
Musk, a billionaire who leads Tesla and SpaceX, made an offer today to buy all of Twitter’s outstanding stock at a price of $54.20 per share.
Prince Alwaleed bin Talal rejected the move in a tweet, saying it does not reflect Twitter’s potential value.
“I don't believe that the proposed offer by @elonmusk ($54.20) comes close to the intrinsic value of @Twitter given its growth prospects,” he tweeted. “Being one of the largest & long-term shareholders of Twitter, @Kingdom_KHC & I reject this offer.”
