The owner of Tesla questioned the role of Saudi Arabia in the technology company after the prince “rejected” the proposed deal.
Elon Musk questioned Saudi Arabia’s role in Twitter Inc after Saudi Arabia’s Prince Alwaleed bin Talal tweeted his opposition to the billionaire entrepreneur’s offer to buy the social media company.
The prince tweeted on Thursday from his confirmed account that Musk’s offer to take over the company’s $ 43 billion in cash did not come close to the “intrinsic value” of Twitter.
“As one of Twitter’s largest and long-term shareholders, @Kingdom_KHC and I reject this offer,” the prince said, referring to the Saudi-based Kingdom Holding Company he owns.
The prince also shared a tweet from 2015, in which he wrote that his company’s share on Twitter has grown to 5.2 percent.
Musk, who owns 9.2 percent of Twitter, responded to the tweet, asking how much of Twitter, directly or indirectly, is owned by Saudi Arabia.
“What are the Kingdom’s views on journalistic freedom of speech?” Musk added.
The tech billionaire said he wanted to make Twitter private to help it grow and make it a platform for free speech.
I do not believe that the offer offered by @elonmusk ($ 54.20) is close to the intrinsic value of @Twitter given the growth prospects.
As one of the largest and long-term shareholders of Twitter, @Kingdom_KHC and I reject this offer. pic.twitter.com/XpNHUAL6UX
– Alwaleed bin Talal (@Alwaleed_Talal) April 14, 2022
Twitter users and human rights activists were quick to address the billionaire’s questions, with the US-based Freedom Initiative highlighting the story of Abdulrahman al-Sadan, who was sentenced to 20 years in prison by a Saudi court for his tweets.
“Freedom of speech in the Kingdom?” “This is what happens to young aid workers in Saudi Arabia when they create satirical Twitter accounts.”
As of January, Saudi Arabia, with a population of 34.8 million, had the eighth most Twitter users in any country in the world, with more than 12 million users.
However, Saudi Arabia does not allow independent media, is regularly accused of repression against dissent, and allegedly closely monitors Saudi journalists living abroad, with US intelligence directly linking Saudi Crown Prince Mohammed bin Salman to the assassination and dismemberment. the Consulate of the Kingdom in Istanbul in 2018
Hey, Elon, don’t forget that crap
– Alex Barredo @ (@somospostpc) April 14, 2022
In 2019, the US Department of Justice accused two former Twitter employees of using their roles in the company to obtain information about US citizens and Saudi dissidents who are critical of the kingdom’s policies.
On Thursday, Musk responded to a tweet linking to a New York Times report on the arrests, tweeting a monocle of emoji.
“Embarrassing to think”
For his part, Musk’s offer to buy Twitter has raised concerns about how he will transform the company, especially when it comes to what many see as important safeguards to combat the misinformation that has been embedded in the platform.
Musk is among the most outspoken opponents of what critics call censorship of the site.
“It is disturbing to think that the Saudi prince and Elon Musk are basically the two people who determine the future of the global communications platform,” Mark Owen Jones, an assistant professor in the Middle East at Hamad bin Khalifa University in Qatar, wrote on Twitter.
On Thursday, Twitter said it would “carefully review the proposal to determine the course of action it believes is in the best interests of the company and all Twitter shareholders.”
Musk, who is worth about $ 273.6 billion, according to Forbes estimates, had previously turned down an offer to join Twitter on Saturday after revealing his stake, a move that analysts say signaled his intentions to take over, as as a seat on the board would limit its shareholding to less than 15 percent.
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