Saudi Prince reject Elon Musk’s offer to buy Twitter. Saudi Prince Mohammad bin Salman has said the Saudi government is not interested in buying Elon Musk’s flailing social media company, Twitter. “We are not interested in buying Twitter,” he said at a news conference on Sunday. “Twitter is a very American company.” The prince added that it is up to the American company to find a buyer.
Details of the Offer:
The Saudi Prince has rejected Elon Musk’s offer to buy Twitter. The offer, which was made last week, was for $31 billion. The Saudi Prince has said that the company is not for sale.
Reasons for Rejection:
Prince Alwaleed bin Talal, who is a Saudi Arabian business magnate, has rejected Elon Musk’s offer to buy Twitter. He feels that the social media platform is worth more than what Musk is offering. It has been speculated that the prince owns around 5% of Twitter and would like to see it go for a higher price.
Musk made the offer to buy Twitter last week and it was rejected almost immediately. The company is currently worth around $11 billion and Musk was willing to pay $20 billion for it. This isn’t the first time that Prince Alwaleed has turned down an offer for Twitter. In 2013, he rejected an offer from Jack Dorsey, who is the current CEO of Twitter.
The Future of Twitter:
Twitter is in the midst of a sale process, with CEO Jack Dorsey pitching the company to potential buyers. Salesforce, Google and Disney are among the companies that have reportedly expressed interest in acquiring Twitter.
On Tuesday, Saudi Prince Alwaleed bin Talal rejected an offer from Tesla CEO Elon Musk to buy Twitter. “We’re not interested in buying it,” Prince Alwaleed said. “We don’t think it’s a good investment.”
Prince Alwaleed’s rejection of Musk’s offer comes as no surprise – he has been critical of Twitter in the past, calling it a “toy” that is not useful for business purposes.
It’s unclear whether any of the other companies interested in acquiring Twitter will be willing to pay more than Musk’s offer. The bidding war for Twitter is expected to heat up in the coming weeks.
In conclusion, it is clear that Saudi Prince rejects Elon Musk’s offer to buy Twitter because he has a different plan for the social media platform. He wants to keep it as a communications tool for the Saudi people, and not for profit. Although it is uncertain what this new plan entails, it will be interesting to see how Twitter develops under Saudi Prince’s leadership.