Tesla CEO Elon Musk asked Saudi Arabian Prince Alawaleed bin Talal two questions after he criticized his offer to buy Twitter.
“I don’t believe that the proposed offer by [Elon Musk] ($54.20) comes close to the intrinsic value of [Twitter] given its growth prospects,” Alaweed tweeted.
He added, “Being one of the largest an long-term shareholders of Twitter, [Kingdom Holding Company] and I reject this offer.”
Musk responded, “Interesting. Just two questions, if I may.”
He continued, “How much of Twitter does the Kingdom own, directly and indirectly? What are the Kingdom’s views on journalistic freedom of speech?”
Interesting. Just two questions, if I may.
— Elon Musk (@elonmusk) April 14, 2022
How much of Twitter does the Kingdom own, directly & indirectly?
What are the Kingdom’s views on journalistic freedom of speech?
Fox News noted Alaweed owns a 4.45% stake in the company.
Additionally, he owns the Kingdom Holding Company which owns 0.72% of Twitter.
The outlet pointed out Saudi Arabia’s law does not protect freedom of expression or for freedom of the press, citing the U.S. State Department.
“Mass media and all other vehicles of expression shall employ civil and polite language, contribute towards the education of the nation, and strengthen unity,” the Basic Law states.
It continues, “The media are prohibited from committing acts that lead to disorder and division, affect the security of the state or its public relations, or undermine human dignity and rights.”
On Thursday, Musk offered to buy 100% of Twitter, as IJR reported.
Musk wrote in his letter to Bret Taylor, chairman of the board of Twitter, “I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy.”
He added, “However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form.”
Musk argued the company “needs to be transformed as a private company.”
The CEO suggested Twitter has “extraordinary potential.”
He continued, “I will unlock it.”