Musk wants to ‘unlock’ Twitter’s potential for free speech.

Elon Musk, the world’s richest man, has a launched a bid to take over Twitter, a move that could have broad implications for a social network where world leaders, lawmakers, celebrities and more than 217 million other users conduct daily public discourse.

The bid came just weeks after Mr. Musk became the company's largest shareholder (though his holdings appeared to have been eclipsed since then by the investment management giant Vanguard). He offered $54.20 a share, valuing the company at roughly $43 billion.

Mr. Musk, a Twitter power user with nearly 82 million followers, has long argued for the need for unfettered public speech. He has repeatedly criticized Twitter for moderating its platform too restrictively, and he previously floated the notion of radically shifting the power in social networking to users and away from behemoth companies.

“I invested in Twitter as I believe in its potential to be the platform for free speech around the globe,” Mr. Musk said in a letter sent to Bret Taylor, the chair of Twitter's board, on Wednesday. "I believe free speech is a societal imperative for a functioning democracy."
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