Elon Musk intends to take Twitter Inc public in as little as three years after purchasing the social media business, according to the Wall Street Journal, citing individuals familiar with the subject.
According to the article, Musk has told potential investors that he intends to launch an initial public offering to restore Twitter to public markets.
Twitter did not immediately react to a request for comment from Reuters, and Musk could not be reached for comment.
According to Reuters, Musk is in negotiations with huge financial institutions and high-net-worth people about taking on more funding for his $44 billion acquisition of Twitter and tying up less of his money in the deal
Elon Musk described Twitter as having "great potential" and stressed that his impromptu offering is his "best and final offer." He also warned that if his proposal was turned down, he would "rethink" his investment in the company.
Musk subsequently told journalist Chris Anderson at a TED event on Thursday in Vancouver, Canada, that "it's absolutely important for there to have an inclusive arena for free expression," adding that Twitter "has become the de facto town square."
He also noted that the company is critical for democracy in the United States and throughout the world, while admitting that he is doubtful whether he will be able to clinch a deal for Twitter. "This is not a way to make money," he clarified.
