Elon Musk Gives TED Talk in Vancouver

Elon Musk closes TED 2022 Vancouver with plans for humanoid robots, defence of free speech after Twitter bid

Musk offered to take Twitter Inc. private in a deal valued at $43 billion, lambasting company management and saying he’s the person who can unlock the “extraordinary potential” of a communication platform used daily by more than 200 million people.

The world’s richest person said he’ll pay $54.20 per share in cash, 38% above the price on April 1, the last trading day before Musk went public with his stake.

The social media company’s shares sank 1.1% to $45.33 in New York on Thursday, a sign there’s skepticism that one of the platform’s most outspoken users will succeed in his takeover attempt.

Musk, 50, announced the proposed deal in a filing with the U.S. Securities and Exchange Commission on Thursday, after turning down the chance to take a board seat at the company.

Musk, who also controls Tesla Inc., first disclosed a stake of about 9% on April 4, making him the largest single investor. Tesla shares fell about 3% on concern that the attempt to acquire Twitter will be a distraction for Musk.