Elon Musk offers to buy Twitter: Know more!

• Elon Musk has made an audacious proposal to buy Twitter for more than $40 billion in order to unleash its "amazing potential" for promoting free expression and democracy around the world.

• He was then given a position on the board of the social media firm, but declined due to a last-minute twist.

• On hearing about the offer, Twitter's stock rose 11% to $50.90 in pre-market trade on Thursday.

• Musk, who is worth an estimated $274 billion, is one of the few persons with enough cash on hand to bankroll a private purchase of Twitter.