Billionaire tech mogul Elon Musk said that, if his Twitter takeover attempt is successful, the company’s Board of Directors will go from being paid millions per year to zero. “Board salary will be $0 if my bid succeeds, so that’s ~$3 [million]/year saved right there,” Musk said in a tweet that was part of a thread…
Washington Post Editorial Board Hopes Elon Musk ‘Doesn’t Win’ in ‘Hostile Takeover’ Twitter Bid
April 19, 2022
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Business & EconomyCompaniesElon MuskMedia & Big TechPoliticsSocial IssuesSocial MediaTechTech NewsTwitterUSUS News
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The Washington Post editorial board has said it hopes Tesla CEO Elon Musk “doesn’t win” in his bid to purchase Twitter. In an opinion piece published on Sunday, titled “Let’s hope Elon Musk doesn’t win his bid for Twitter,” the editorial board called Musks hopes to purchase the social media platform a “hostile takeover” adding, “let’s…
Musk Targets Twitter Board as Company Adopts ‘Poison Pill’
Elon Musk took a swipe at the board of Twitter on Monday after the social media company adopted a “poison pill” to protect itself from the second-biggest shareholder’s $43 billion cash buyout offer. “Board salary will be $0 if my bid succeeds, so that’s ~$3 million/year saved right there,” Musk tweeted in response to a…
Musk No Longer Twitter’s Largest Shareholder: Who Has the Top Spot With an Over 10 percent Stake in the Company?
As Tesla Inc CEO Elon Musk hopes to buy Twitter Inc in a $43 billion deal, he is now no longer the company’s largest shareholder. What Happened: A recent SEC filing shows that Vanguard Group is now the biggest shareholder of Twitter with a 10.3 percent stake in the company. That’s 82.4 million shares, worth $3.7 billion as of Friday’s…
Here’s Why the Founder of Cardano Is Looking to Build a Decentralized Twitter With Elon Musk
In the latest development in Tesla Inc CEO Elon Musk’s Twitter Inc bid saga, Cardano founder Charles Hoskinson has told Musk that he’s willing to help him build a decentralized version of Twitter. In a recent Tweet, Hoskinson said that he is willing to make a dispersed social media platform along with Musk if his…
Poison Pill Tactic Makes ‘Coercive’ Takeover Difficult: Twitter
Twitter’s adoption of a so-called poison pill tactic makes it harder for a hostile takeover, the company said on April 18. Twitter’s board on Friday announced that a person or entity buying at least 15 percent of Twitter’s outstanding stock without approval would trigger the poison pill, which enables other stockholders to buy shares at…
Dorsey Rips Twitter Board for ‘Dysfunction’ After Musk Accuses It of Failing to Represent Shareholders
April 18, 2022
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Business & EconomyCompaniesElon MuskInvestmentJack DorseyMarketsMedia & Big TechSocial MediaTechTwitterUSUS News
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Twitter co-founder Jack Dorsey penned a scathing tweet over the weekend calling the company’s board of directors a consistent source of dysfunction after Tesla CEO Elon Musk accused the Twitter board of failing to represent the interest of shareholders. Dorsey made the remark in a tweet thread initiated by Garry Tan, co-founder of Initialized Capital, who…
Twitter Board Not Representing Shareholders: Elon Musk
April 17, 2022
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Beneficial OwnersBusiness & EconomyCompaniesElon MuskMedia & Big TechSocial MediaTechTwitterUSUS News
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Elon Musk said Saturday that the Twitter Inc. board of directors is not representing the interest of its shareholders. “Wow, with Jack departing, the Twitter board collectively owns almost no shares! Objectively, their economic interests are simply not aligned with shareholders,” he replied to a post showing a chart of the ownership percentages of Twitter…
GOP Lawmakers Praise Musk Offer to Take Over Twitter
Republican lawmakers on Capitol Hill praised tech billionaire Elon Musk after he made a bid on April 14 to purchase social media giant Twitter at $43 billion, a major premium per share over the company’s current trading price. Musk, who owns electric vehicle manufacturer Tesla Inc. and commercial space venture SpaceX, grounded his reasons for…
What Is a Poison Pill and Why Is Twitter Taking It?
Twitter announced on Friday that its board of directors has unanimously adopted a “poison pill” defense to prevent Elon Musk from acquiring the company. If any business, person, or group acquires 15 percent or more of Twitter’s outstanding stock through a transaction not allowed by the board, according to the announcement, other stockholders will be…
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