Elon Musk Asked to Buy Sri Lanka Instead of Buying Twitter

While Tesla CEO Elon Musk has launched a hostile takeover bid for Twitter with a $43 billion cash offer, Snapdeal CEO Vijay Shekhar has made a joke about the multi-billion dollar bid on Twitter.

Instead of buying Twitter, CEO Kunal Bahl recommended to Musk that he buy Sri Lanka, which is experiencing its worst economic crisis in decades, with food prices such as a kilogram of rice reaching 500 Sri Lankan rupees.

Bahl said that Elon Musk’s Twitter proposal is $43 billion and Sri Lanka’s debt is $45 billion in a WhatsApp viral on Twitter. With a laughing emoji, Bahl wrote, “He can buy it and call himself Ceylon Musk.” Sri Lanka is also known as Ceylon.

Musk recently stated that he would buy Twitter for $54.20 per share, valuing the company at over $40 billion. His declaration came only days after he became the microblogging site’s largest shareholder after amassing a sizable stake in the company.

Elon Musk bought 9.2 percent of Twitter stock on April 4, making him the company’s largest stakeholder. However, the digital behemoth now wants to buy the entire company, claiming that the social media giant needs to be privatized.

“I would need to reevaluate my position as a shareholder,” he stated if his offer was not accepted. Musk also stated that if the Twitter board of directors rejects the offer, it would be “completely inexcusable” not to bring the offer to a shareholder vote.

He wrote, “They own the corporation, not the board of directors.”

Many people offered to buy Sri Lanka instead of Twitter using the hashtag Ceylon Musk.

 

Sri Lanka defaults on $51 billion debt

Sri Lanka is in the midst of an economic crisis and is rapidly depleting its foreign exchange reserves. It defaulted on all payments on its $51 billion external debt just a few days ago. Sri Lanka has now joined the ranks of minor countries that have defaulted on their debt obligations.

Why netizens call Ceylon Musk to Elon Musk?

Elon Musk purchased a 9.2 percent interest in Twitter in early April, making him the platform’s largest stakeholder. According to a regulatory filing, Twitter’s stock rose as much as 27% after Musk’s remark.

As soon as Musk stated that he was interested in purchasing Twitter for $43 billion, Twitter users suggested that he purchase Sri Lanka for $51 billion. Musk might possibly rename it ‘Ceylon Musk,’ according to some.

“Instead of bidding $43 billion for Twitter, Elon Musk should consider bailing out Sri Lanka,” a Twitter user commented. He has the option of naming the island nation after himself or changing his name to Ceylon Musk.”

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