Elon Musk is the largest shareholder of Twitter.
The world’s richest man Elon Musk has targeted the company’s board after he offered to buy 100 percent stake in Twitter. Musk said that if his bet goes, the people of the Twitter board will be unemployed.
Elon Musk (Elon Musk) and Twitter remains the center of discussion these days. Twitter (TwitterAfter becoming the largest shareholder of ) Musk offered to buy 100 percent stake in the company. In such a situation, to save the company, the board of directors resorted to ‘poison pill’. Now Musk has targeted the Twitter board. Responding to a tweet, Musk said that if his bet is successful, the Twitter board’s salary will be zero dollars. With this, Twitter will save at least 3 million dollars every year.
In fact, investment advisor Gary Black made a tweet in which he wrote that Twitter’s board of directors is not able to properly protect the interest of the shareholders. If they can’t do that then what is the need to keep them. In their place, there is a need to include new people in the board who can understand their responsibility well. With this, Black said that if Tesla chief Elon Musk joins the board, the board of directors will be unemployed.
Let me point out something obvious: If @elonmusk takes $TWTR private, the TWTR board members dont have jobs any more, which pays them $250K-$300K per year for what is a nice part-time job. That could explain a lot. pic.twitter.com/vLgpEZpapA
— Gary Black (@garyblack00) April 17, 2022
Board members have only 77 shares
A user named Chris Beck made a tweet and said that if the founder Jack Dorsey is left out, the 11 people on the board of Twitter have a total of 77 shares of the company. Jack Dorsey holds 2.253 percent stake. In such a situation, none of the board members have any financial affiliation with the company. They work on salary. This is the reason why they are not thinking properly for the shareholders.
Elon Musk is in for a bad time.
Im not sure hes prepared to take on a couple PhDs, a few MBAs, and a Baroness who use Twitter once a year (to reset their passwords) and collectively own 77 shares of the company. pic.twitter.com/sJmKwHbzVh
— Chris Bakke (@ChrisJBakke) April 16, 2022
Musk holds 9.1 percent stake in the company
Elon Musk is currently the largest shareholder of Twitter. He holds 9.1 percent stake in the company. Last week, Musk offered to buy a 100% stake in Tesla for $43 billion, after which there was a stir. To save Twitter from Musk, the board of directors has resorted to the poison pill.
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