Elon Musk makes offer to buy Twitter

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Musk said he is the right person to buy the social media platform.

In a surprise announcement, Mr Musk said he would pay $54.20 a share for the company.

Mr Musk built up a large stake in the firm and was the biggest shareholder.

If his offer was not accepted, he would need to rethink his position as a shareholder.

In a filing with the US financial regulator, Mr Musk said that he invested in the social network as he believed that it could be a platform for free speech around the globe.

The company will not thrive or serve this societal imperative in its current form since I made my investment. It needs to be a private company.

He said that it has extraordinary potential. I will open it.

After it was revealed that Mr Musk held a 9.2% stake in the company, he was offered a seat on the board.

The role was going to be effective last weekend but Mr Musk decided against taking it.

The decision by Mr Musk not to take a seat on the board was thought to be for the best.

He said that they value input from shareholders whether they are on the board or not. We will remain open to his input, as he is our biggest shareholder.

He warned staff that there would be distraction.

After that announcement, Mr Musk posted a picture of a smiling face with his hand over his mouth.