Longest TWTR Shareholder Prince Al Waleed Turns Down Elon Musk's Offer To Buy Twitter, Will The Price Dump?

JAKARTA – Tesla and SpaceX boss Elon Musk has made a bid to buy Twitter completely. Musk intends to fight for free speech and increase the potential of the social media platform with the blue bird logo. But Musk's plan had to face a number of hurdles.

Musk currently owns 9.2 percent of Twitter, making him TWTR's largest shareholder. Even so, one of Twitter's longest-serving shareholders, Prince Al Waleed of Saudi Arabia, has openly rejected Musk's offer.

The rejection was conveyed by Al Waleed through his Twitter post on April 14. Al Waleed is a shareholder on Twitter's Board of Directors. In addition, the Board of Directors also considered that the refusal was intended to make shareholders realize the full value of their investment in Twitter.

Elon Musk made an offer to buy all of Twitter's shares at $54.20 per share. During the Ted Talk event, Musk emphasized the importance of public social media platforms that stand for free speech.

"I think it's really important to be an inclusive arena for free speech," said the Tesla boss.

“Twitter has become something of a de facto town square. My strong intuitive feeling is that having a public platform that is maximally trustworthy and broadly inclusive is very important,” he explained.

After Musk's offer to buy Twitter, Prince Al Waleed immediately opened his voice against the acquisition of the SpaceX boss. Al Waleed assesses that Musk's proposal is still below the actual value. For information, Prince Al Waleed owns 5.2 percent of Twitter shares.