Elon Musk's $43 billion bid to buy Twitter

A right-wing social media platform has suggested Elon Musk invest $2 billion in their company if he truly cared about free speech.

The site, Gab, does not moderate content like most social media platforms. It gained notorious attention in 2018 when the shooter of the Tree of Life synagogue in Pittsburgh posted anti-Semitic rhetoric on the site before carrying out the attack. In 2021, right-wingers turned to the platform when Twitter banned Donald Trump.

Gab made the tech mogul a counteroffer in an open letter. CEO Andrew Torba said he should turn his back on the "expensive and overpriced Twitter deal" and join Gab as a board member.

"Together we can build infrastructure for a free speech internet," Torba wrote in an open letter to Musk. "I am willing to offer you a Board seat along with equity in the company in exchange for you selling your Twitter position and investing $2B into Gab. My offer is my best and final offer."

Torba argued that Gab "build [their] own everything" and does not depend on "third-party infrastructure."

He added: "Twitter has legacy problems that Gab doesn’t. They are fully dependent on third-party infrastructure. We are not. We “built our own,” everything."

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On Thursday, a filing with the US Securities and Exchange Commission (SEC) showed that Musk had offered to buy Twitter for $43 billion.

In the offer letter, Musk wrote: "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: "Twitter has extraordinary potential. I will unlock it."

Twitter confirmed it had received "an unsolicited, non-binding proposal from Elon Musk to acquire all of the company's outstanding common stock" and would "carefully review the proposal to determine the course of action that it believes is in the best interest of the company and all Twitter stockholders."

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