‘Twitter’s Board Salary Will Be $0 if My Bid Succeeds’, Says Tesla CEO Elon Musk
Tesla CEO and SpaceX CEO Elon Musk has taken another dig at Twitter board, saying the members of the board will get zero salary if his $43 billion takeover bid succeeds. "Board salary will be $0 if my bid succeeds, so that's $3 million/year saved right there," Musk tweeted on Monday.
New Delhi, April 19: Tesla CEO and SpaceX CEO Elon Musk has taken another dig at Twitter board, saying the members of the board will get zero salary if his $43 billion takeover bid succeeds. "Board salary will be $0 if my bid succeeds, so that's $3 million/year saved right there," Musk tweeted on Monday.
He also tweeted "Love Me Tender", an Elvis Presley song, after Twitter adopted 'poison pill' strategy to prevent Musk from forcefully buying it. Musk earlier said that the Board of Twitter should be more concerned about other potential bidders than him who has made a fair offer to acquire 100 per cent of the micro-blogging platform for $43 billion. Twitter Board Adopts 'Poison-Pill' Defense To Block Elon Musk's Bid To Buy Company.
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"In fairness to the Twitter board, this might be more of a concern about other potential bidders vs just me". With 9.2 per cent stake, Musk is one of the largest shareholders in Twitter.
Asset management firm Vanguard Group disclosed last week that its funds now own a 10.3 per cent stake in Twitter which makes it the largest shareholder. Saudi Prince Al-Waleed bin Talal, who rejected Elon Musk's offer, has about 5.2 per cent share in Twitter.
As Twitter adopts the 'poison pill' strategy, the Tesla CEO is reportedly speaking to investors who could partner with him on acquiring the micro-blogging platform. Musk may join "private-equity firm Silver Lake Partners, which was planning to co-invest with him in 2018 when he was considering taking Tesla private". Egon Durban, who is the co-CEO of Silver Lake, is a Twitter board member.
(The above story first appeared on LatestLY on Apr 19, 2022 02:30 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).