Article

2022-04-13 -Great Cultural Revolution

Elon Musk Now Able to Straight Up Buy Twitter, Pursue Hostile Takeover After Refusing Board Membership

[IJR] Elon Musk, CEO of Space X and Tesla, bought a huge share of Twitter but has turned down a seat on the social media giant’s board.

This has everyone asking, is Musk positioning himself to take over Twitter?

Elon Musk bought 9.2 percent of Twitter, which makes him the largest shareholder in the social media company, CNN
...formerly the Cable News Network, now who know what it might stand for...
reported.

Many then assumed that his next move would be to join the Twitter board. But he has opted out of taking a seat, ABC News reported.

"Elon’s appointment to the board was to become officially effective on April 9, but Elon shared that same morning that he would not be joining the board. I believe this is for the best," Twitter CEO Parag Agrawal announced.

Many assumed Musk would be joining the board since he tweeted over the weekend several suggestions for changes to Twitter, such as making it ad free, even though 90 percent of Twitter’s 2021 revenue came from advertisement, ABC News reported.

Agrawal said that Twitter’s board understood the risks of having Musk as a member. But the board "believed having Elon as a fiduciary of the company, where he, like all board members, has to act in the best interests of the company and all our shareholders, was the best path forward," Agrawal wrote.

Having Musk on the board would have been in the board’s best interest because, though he is already the largest shareholder, the board was offering him a seat on the condition that he not own more than 14.9 percent of the company’s outstanding stock, ABC News reported.

Posted by Fred 2022-04-13 00:00|| || Front Page|| [11129 views ] Top

#1
Why have a little say in things, when you can OWN it?

Posted by NN2N1 2022-04-13 11:34|| 2022-04-13 11:34|| Front Page Top

#2 i like to imagine all the shitheads that works there running around in a tizzy.

Posted by Chris 2022-04-13 13:00|| 2022-04-13 13:00|| Front Page Top

#3 Question one will have the (insert your pick) to
Ban his twitter acct now?

Posted by NN2N1 2022-04-13 14:38|| 2022-04-13 14:38|| Front Page Top

#4 Twitter Workers Worried Elon Musk Will Turn Their Free Speech Platform Into Platform That Allows Free Speech

Posted by M. Murcek 2022-04-13 14:40|| 2022-04-13 14:40|| Front Page Top

#5 He’s being sued for violating reporting timeframe rules.

Posted by Glenmore 2022-04-13 14:42|| 2022-04-13 14:42|| Front Page Top

#6 I still think he should sell and buy into Trumps platform. Just to help the migration away from Twitter.

Posted by ruprecht 2022-04-13 15:07|| 2022-04-13 15:07|| Front Page Top

#7 i like to imagine all the shitheads that works there running around in a tizzy.

It amusing me to think that Elon is just toying with them now, all cat & mouse-like.

Posted by SteveS 2022-04-13 18:03|| 2022-04-13 18:03|| Front Page Top

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