What's going on?

Elon Musk offered to buy Twitter on Thursday for $43 billion, as he dreams of a utopian internet where everyone can talk freely and openly � about him.

What does this mean?

Elon revealed two weeks ago that he�d bought a 9% stake in Twitter, which the company shortly followed with an offer of a spot on its board. But when he turned it down, analysts were quick to point out that the move would�ve limited him to a 15% stake, suggesting that he might want to launch a full-scale takeover. They were right: the world�s richest person � reportedly worth around $260 billion � offered to buy Twitter for $54.20 a share on Thursday (tweet this). That values the company at around $43 billion � 54% more than it was worth before Elon started investing. As for his intentions, he says Twitter needs to be taken private in order to make it a �platform for free speech around the globe.� God’s work, Elon: the world’s worst people have been too muzzled for too long.

Why should I care?

For markets: Twitter�s backed into a corner.
Twitter�s shares jumped 12% on the news, but there�s a catch: Elon has said he lacks confidence in current management, and would reconsider his position as a shareholder if his offer wasn�t accepted. Let�s say we take him at his word (a big if): the sale of his stake would probably send Twitter�s shares plunging toward the low-30s they sat at before this whole saga. That leaves Twitter with a decision to make: accept the offer, or accept its shareholders� wrath.

Zooming out: Morgan Stanley could do with the work.
Musk hired Morgan Stanley to advise him on the deal, and it might be glad of the business: the firm reported on Thursday that its investment banking business � the segment that advises on deals and initial public offerings � saw its revenue fall 37% last quarter versus the same time last year, and its total profit fall by 8%.