I haven’t done any deep dives into these claims, but I’ve been seeing some fuss about how Tesla is perhaps a huge Ponzi scheme? I do wonder, because Tesla’s CEO Elon Musk seems… um, Ponzi-schemey. Musk made news this week because he was offered a seat on Twitter’s board of directors only to walk away when Twitter told him he would need to pass a background check (lmao, not shady at all). Now Musk is spearheading a hostile takeover of Twitter, offering to buy the public company for $43 billion so he can take it private.
Elon Musk offered to buy Twitter for $54.20 a share, saying the social media company needs to be transformed privately, a little over a week after first revealing a 9.2% stake in the company.
“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,” Musk wrote in a letter sent to Twitter Chairman Bret Taylor and disclosed in a securities filing. According to Musk, the social media company needs to go private because it can “neither thrive nor serve” free speech in its current state.
“As a result, I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced,” he wrote. “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.”
Twitter shares jumped 12% in premarket trading after closing at $45.85 a share on Wednesday.
Musk first disclosed his stake in the social media giant on April 4 and later landed a seat on the company’s board of directors, before reversing those plans. The Tesla CEO has previously criticized the social media giant publicly, polling people on Twitter last month about whether the company abides by free speech principles and said he was considering building a new social media platform.
Shares of Twitter have seesawed in recent weeks amid the news from Musk, but are up 6% this year and 18.5% since the start of the month. Musk’s offer values Twitter at about $43 billion.
I cannot believe that a f–king billionaire wingnut – the richest man in the world, who doesn’t pay taxes – is arguing that a public company needs to be taken private so that free speech and democracy can reign. He is basically launching a public campaign of “Bring The Nazis Back To Twitter.” Everyone knows that Musk will allow Trump to come back too. “Twitter has extraordinary potential. I will unlock it.” This is giving me such anxiety.
Photos courtesy of WENN, Avalon Red, Instar.
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USA Rights Only, Berlin, Germany – 20191112- Elon Musk poses for pictures as he arrives at the Das Goldene Lenkrad award ceremony.
-PICTURED: Elon Musk
-PHOTO by: Steffens/DDP/INSTARimages.com
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- 01 December 2020, Berlin: Elon Musk, head of the space company SpaceX and Tesla CEO, comes to the Axel Springer Award ceremony. Musk will accept this year’s Axel Springer Award.,Image: 572867757, License: Rights-managed, Restrictions: , Model Release: no, Credit line: Britta Pedersen / DPA Picture Alliance / Avalon
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(FILE) Elon Musk acquires 1,200 ventilators from China to help alleviate coronavirus COVID-19 shortage. Tesla and SpaceX CEO Elon Musk has acquired a trove of ventilators from China and shipped them to the U.S. for distribution to hospitals in need during the coronavirus. BEVERLY HILLS, LOS ANGELES, CALIFORNIA, USA – FEBRUARY 26: Chief Executive Officer of Tesla, Inc. and SpaceX Elon Musk arrives at the 2017 Vanity Fair Oscar Party held at the Wallis Annenberg Center for the Performing Arts on February 26, 2017 in Beverly Hills, Los Angeles, California, United States.
Where: Beverly Hills, California, United States
When: 24 Mar 2020
Credit: WENN/Avalon**WENN/Avalon**
