Elon Musk

Tron Founder Justin Sun Outbids Elon Musk on Twitter, Wants to Reform the Platform for Web3

Tron Founder Justin Sun Outbids Elon Musk on Twitter, Wants to Reform the Platform for Web3

Tron founder Justin Sun outbid Elon Musk's offer to buy Twitter. He fully supports the reform ideas of the head of Tesla and would like Twitter to become crypto-native and Web3 friendly.

Tron founder Justin Sun has entered the fray for Twitter. After Elon Musk made a $43 billion offer to buy Twitter, Sun also showed interest in the social network.

On April 14, it became known that Musk offered to buy the remaining shares of Twitter he does not already own at $54.20 per share. That's a 54% premium over the day before he began investing in Twitter and a 38% premium over the day before his investment was publicly announced. Musk wrote that "offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder." He also said that he thinks Twitter has extraordinary potential and he will unlock it.

This offer by Musk provoked another person with a famous name to make his offer to buy Twitter. According to a series of tweets on April 14, Sun offered to buy the social network for $60 per share and make it private. The founder of Tron wrote that he fully supports Musk's reform initiatives and would like Twitter to become crypto-native and Web3 friendly.

"I believe @Twitter is far from unleashing its full potential, thus I am offering $60 per share to take the platform private. But we fully support the reform initiatives of @elonmusk and would love to see Twitter becoming crypto-native and Web3 friendly."

He outlined three goals he wants to achieve on Twitter:

  1. We want to move Twitter offshore and make its workforce decentralized so that it can be more neutral and less US-centric.
  2. We want to turn Twitter into a more open and decentralized Web3 framework that is open source and friendly to developers.
  3. We want to encourage more users engagement and starts to develop a mechanism to clean the scammers and bots immediately.

As you can see from the goals, they overlap with Musk's aspirations in many ways.

© 2022, Eva Fox | Tesmanian. All rights reserved.

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Article edited by @SmokeyShorts, you can follow him on Twitter


About the Author

Eva Fox

Eva Fox

Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.

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