By Leonard Kamugisha Akida,
TECHNOLOGY REPORTS
Twitter Inc. is in advanced discussions to sell itself to Elon Musk and could finalize a deal Monday, people familiar with the matter said, a dramatic turn of events just 11 days after the billionaire unveiled his $43 billion bid for the social-media company.
The two sides worked through the night to hash out a deal that would be valued at $54.20 a share, the people said. There are no guarantees they will reach one.
Musk, a prolific tech entrepreneur, whose net worth is nearly $300 billion according to Forbes, has founded, co-founded or is leading the following companies:
Neuralink – 2016
The brain chip startup aims to connect humans and computers. In July last year, it said it had raised over $200 million from investors including Google Ventures.
SpaceX – 2002
The company designs and manufactures aerospace technology, and aims to land its rockets on Mars before 2030. It was valued at over $100 million, CNBC reported last year.
The Boring – 2017
The underground tunneling company company aims to build hyperloops, an ultra-high-speed ground transportation system for passenger and cargo, to solve big city traffic problems.
Tesla Inc. – 2003
The electric-car maker, which went public in 2010, is valued at more than $1 trillion, more than legacy automakers Ford and General Motors combined. Last year, Musk said the company will probably launch a “Tesla Bot” humanoid robot prototype in 2022, designed for dangerous, repetitive, or boring work that people don’t like to do.
PayPal – 1998
The fintech company went public as Holdings Inc. first in 2002, and was bought by eBay Inc for $1.5 billion soon after. It then went public again in 2015.
Stripe Inc. – 2010
The digital payments company was valued at $95 billion in a fundraising round last year. Reuters reported in July 2021 that Stripe hired a law firm in its first major step towards a stock market debut.
Vicarious – 2010
The artificial intelligence and robotics company, which has received over $250 million in funding, also counts Jeff Bezos and Mark Zuckerberg as its investors, according to the Vicarious website.
