Billionaire Entrepreneur Elon Musk has offered to buy Twitter for $41.39bn, according to a regulatory filing, just days after declining a seat on the social media company's board.

Musk has offered a price of $54.20 per share, 38% higher than the closing price of twitter's stock on the 1st of April, the day before his investment of 9.2% in the company was announced publicly.Upon investing in Twitter, Musk would write a letter to its chairman, Bret Taylor, stating, "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""Since making my investment I now realise the company will neither thrive nor serve this societal imperative in its current form."Twitter needs to be transformed as a private company.""My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder."Twitter has extraordinary potential. I will unlock it," he added.Musk's announcement comes just days after he rejected a seat on the social media company's board of directors. This decision was made as taking this position would have prevented the billionaire from a possible takeover of the company, capping his share ownership to just under 15%.The entrepreneur currently owns 73,486,938 shares in Twitter, which is currently worth around �3.3bn.The Tesla owner is an avid Twitter user and has amassed over 80 million followers since he joined the site back in 2009.

Elon Musk's Text/Voice Messages To Twitter's Board Of Directors:

"As I indicated this weekend, I believe that the company should be private to go through the changes that need to be made.

"After the past several days of thinking this over, I have decided I want to acquire the company and take it private.

"I am going to send you an offer letter tonight, it will be public in the morning.

"Are you available to chat?

"I am not playing the back-and-forth game.

"I have moved straight to the end.

"It's a high price and your shareholders will love it.

"If the deal doesn't work, given that I don't have confidence in management nor do I believe I can drive the necessary change in the public market, I would need to reconsider my position as a shareholder.

"This is not a threat, it's simply not a good investment without the changes that need to be made.

"And those changes won't happen without taking the company private."