Elon Musk reaches deal to buy Twitter for $44B - First looks at X TV, which could be a competitor to YouTube
- Thread starter Gemini
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After buying a huge stake in Twitter, the WH is now wanting to meet with him and discuss economic opportunities.
With Jack Dorsey, the only way you could get to him is with stock purchases which are heavily scrutinized and advertising. This is the problem with many transnational companies owning media outlets. I would warn the information that you get, as being compromised by foreign/business interests of the parent company. I would not rely on it having American roots which means nothing once they do business deals in other countries. Elon Musk and President Trump have populist products which is purchased by the millions that are essential, versus jet engines/aircrafts or movies that can be arbitrarily banned for any reason. He has that going for him, it will be interesting to watch what takes place.
Disney has populist product but when it deals with the CCP, it can alter its behavior significantly. It is important for the public to turn to BGOL and people like me that readily speak the truth.
With Jack Dorsey, the only way you could get to him is with stock purchases which are heavily scrutinized and advertising. This is the problem with many transnational companies owning media outlets. I would warn the information that you get, as being compromised by foreign/business interests of the parent company. I would not rely on it having American roots which means nothing once they do business deals in other countries. Elon Musk and President Trump have populist products which is purchased by the millions that are essential, versus jet engines/aircrafts or movies that can be arbitrarily banned for any reason. He has that going for him, it will be interesting to watch what takes place.
Disney has populist product but when it deals with the CCP, it can alter its behavior significantly. It is important for the public to turn to BGOL and people like me that readily speak the truth.
Elon Musk's possible Twitter plans explained: Take-over vs distraction
Elon Musk would need to purchase an additional 40.8% stake in Twitter to become the majority shareholder. This would cost him about $15.3 billion, which some allege he be considering.
What happens when a platform like Twitter, BGOL, Youtube first start out is that they support populist ideas. As they grow and their users flock to the platform, advertisers, the governments, shareholders get involved after seeing the numbers and impact the operations of the organization. The government will threaten them with regulation, monopoly, or bribe them with government contracts. Advertiser may threaten to stop doing business taking a substantial amount of earning away from the platform.
The company adopts unpopular practices such as shadow banning, or banning people such as President Trump their biggest user. The user base begins to shrink and new platforms develop that easily supplant them as a populist platform. This is why I stay away from advertisers or the government to remain populist with the people. If I am going to get revenue, requiring a subscription fee.
This is what happened to BGOL when it started to appeal to advertisers. You see many athletes and entertainers going through same process doing cop propaganda or other WS nonsense, reading canned statement written by a PR firm instead of speaking directly.
Elon Musk has brought the perception back to the companies that they are populist. He is wealthy or powerful, but I don't know if he could take the heat. He has an essential product that he sells to millions of people to derive his revenue.
The company adopts unpopular practices such as shadow banning, or banning people such as President Trump their biggest user. The user base begins to shrink and new platforms develop that easily supplant them as a populist platform. This is why I stay away from advertisers or the government to remain populist with the people. If I am going to get revenue, requiring a subscription fee.
This is what happened to BGOL when it started to appeal to advertisers. You see many athletes and entertainers going through same process doing cop propaganda or other WS nonsense, reading canned statement written by a PR firm instead of speaking directly.
Elon Musk has brought the perception back to the companies that they are populist. He is wealthy or powerful, but I don't know if he could take the heat. He has an essential product that he sells to millions of people to derive his revenue.
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Elon Musk offers to buy Twitter for $43 billion
Elon Musk has offered to buy Twitter for $43 billion, telling the SEC in a filing that the deal would be good for free speech. "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," he wrote. If the deal goes through, Musk plans to take the company private.
Musk offered $54.20 per share in cash (there's that 4.20 ref again), a premium of about 20 percent over today's opening price. Twitter's shares shot up 18 percent on the news. Musk implied that if the offer is rejected, he may dump some or all of his current position.
"I am offering to buy 100 percent of Twitter for $54.20 per share in cash, a 54 percent premium over the day before I began investing in Twitter and a 38 percent premium over the day before my investment was publicly announced," Musk said in the filing. "My offer is my best and final offer."
In a separate text noted in the filing, which may have included Twitter Chairman Brett Taylor, Musk put things bluntly. "I am not playing the back-and forth game," he wrote. "I have moved straight to the end. It's a high price and your shareholders will love it. If the deal doesn’t work, given that I don’t have confidence in management nor do I believe I can drive the necessary change in the public market, I would need to reconsider my position as a shareholder. This is not a threat, it's simply not a good investment without the changes that need to be made."
Musk's Twitter saga started when he purchased a 9.2 percent share in the company, and was later offered a seat on the board of directors. He subsequently declined the board position, fueling speculation that he might decide to purchase Twitter outright.
He addressed all that in the SEC filing. "Since making my investment I now realize the company will neither thrive nor serve this societal imperative [of free speech] in its current form," Musk wrote. "Twitter needs to be transformed as a private company. Twitter has extraordinary potential. I will unlock it."
Adding to the drama, Musk is facing a lawsuit from Twitter shareholders for an 11-day delay in officially disclosing his 9.2 percent investment. Twitter shares have traded as high as $77 in February 2021, so it remains to be seen whether shareholders will vote on the $54.20 offer — even if it is higher than the current price.
In my opinion. He should focus on delivering things he promised with Tesla especially the updated Roster that people paid 50000 upfront for. I'm surprised no one has taken them to court, but maybe it was refundable. Let's not forget the 25000 or less Tesla that hasn't arrived or full self driving.
Next up would be making an actual luxury vehicle.
Recently I saw something were he stated a 600 mile battery wasn't needed yet for years that was allegedly the goal. I think he was talking about losing performance as a result of a battery with that capacity, but assuming he was mainly talking about acceleration the average person doesn't care. While better infrastructure and faster charging is key, at this point a higher range battery would be more useful until faster charging is available.
Considering that Tesla was already around and he joined later I've never understood why he's so beloved. While I believe his leadership helped with its success, people treat him as if he Tesla was his original idea and created the tech.
Didn't he say Twitter should give their HQ to the homeless. I think the amount of money he claims to want to waste on buying Twitter would go a long way to help those in need.
Remember when he tried this which got him into serious trouble with the SEC and cost him his Chairman position on the board. Trying to value his shares outside the stock market with entities that could take Tesla private, something I was talking about to influence investors decision to buy shares of his company. Well now he has flipped the tables, and he is playing the role of a large institutional investor privatizing a company.
I believe he is taking a shot at the SEC which has restricted his speech through the settlement agreement.
He is stifling up and coming people like me, it is good somebody is reining him in. It might be his Asperger syndrome and being unable to read social cues.
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Musk is threatening to sell his existing 9.2% stake in the company if his offer is rejected.
Elon Musk, who recently bought a 9.2% stake in Twitter, has made an offer to buy the company outright for $54.20 per share in cash in a hostile takeover of roughly $43 billion, according to a new report from Bloomberg News and documents filed with the SEC. Musk said in the SEC filing that if his offer isn’t accepted, he’ll likely sell all his shares.
Musk, the wealthiest person in the world with a net worth of roughly $260 billion, made headlines earlier this month when it was announced he purchased an enormous slice of Twitter, making him the largest shareholder. Musk was going to join the board, but backed out at the last minute, with speculation he may want to just buy the entire company.
That speculation turned out to be correct, with Musk threatening to take his ball and go home if he can’t take the company private with his bid.
“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 said in his SEC filing about the hostile takeover.
“However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company,” Musk continued.
“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. My offer is my best and final offer and if it’s not accepted, I would need to reconsider my position as a shareholder,” Musk wrote.
“Twitter has extraordinary potential. I will unlock it.”
The document makes clear Musk’s offer of $54.20 per share, a premium of over 50%, is his final offer, saying he’s “not playing the back-and-forth game.”
“If the deal doesn’t work, given that I don’t have confidence in management nor do I believe I can drive the necessary change in the public market, I would need to reconsider my position as a shareholder,” Musk said.
“This is not a threat,” Musk said in what was clearly a threat. “It’s simply not a good investment without the changes that need to be made,” Musk continued.
Musk is a frequent tweeter and often makes crude and juvenile jokes on Twitter that can get him into trouble. The 50-year-old recently floated the idea of changing the name of Twitter to “Titter” and once tweeted a meme comparing Canadian Prime Minister Justin Trudeau to Adolf Hitler. Both tweets were deleted by Musk.
And don’t even get us started on Musk’s jokes about the share price of Tesla, something that got him a slap on the wrist from the SEC. When you’re the wealthiest person in the world, a fine of just $40 million is the kind of chump change you find in your couch cushions.
Musk was sued this week by an investor in Twitter over his failure to properly disclose his huge stake in the company. Legally, Musk was required to file a notice with the SEC once he bought 5% of Twitter. But Musk didn’t file the proper paperwork until April 4, a full ten days late. The person who’s suing Musk in this case sold his shares during that period of illegal secrecy and lost money as a result.
What happens now? Twitter has to decide whether to accept this generous offer, or turn it down and deal with a lot of pissed off shareholders.
Elon Musk Wants to Buy 100% of Twitter for $43 Billion (gizmodo.com)
Elon Musk, who recently bought a 9.2% stake in Twitter, has made an offer to buy the company outright for $54.20 per share in cash in a hostile takeover of roughly $43 billion, according to a new report from Bloomberg News and documents filed with the SEC. Musk said in the SEC filing that if his offer isn’t accepted, he’ll likely sell all his shares.
Musk, the wealthiest person in the world with a net worth of roughly $260 billion, made headlines earlier this month when it was announced he purchased an enormous slice of Twitter, making him the largest shareholder. Musk was going to join the board, but backed out at the last minute, with speculation he may want to just buy the entire company.
That speculation turned out to be correct, with Musk threatening to take his ball and go home if he can’t take the company private with his bid.
“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 said in his SEC filing about the hostile takeover.
“However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company,” Musk continued.
“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. My offer is my best and final offer and if it’s not accepted, I would need to reconsider my position as a shareholder,” Musk wrote.
“Twitter has extraordinary potential. I will unlock it.”
The document makes clear Musk’s offer of $54.20 per share, a premium of over 50%, is his final offer, saying he’s “not playing the back-and-forth game.”
“If the deal doesn’t work, given that I don’t have confidence in management nor do I believe I can drive the necessary change in the public market, I would need to reconsider my position as a shareholder,” Musk said.
“This is not a threat,” Musk said in what was clearly a threat. “It’s simply not a good investment without the changes that need to be made,” Musk continued.
Musk is a frequent tweeter and often makes crude and juvenile jokes on Twitter that can get him into trouble. The 50-year-old recently floated the idea of changing the name of Twitter to “Titter” and once tweeted a meme comparing Canadian Prime Minister Justin Trudeau to Adolf Hitler. Both tweets were deleted by Musk.
And don’t even get us started on Musk’s jokes about the share price of Tesla, something that got him a slap on the wrist from the SEC. When you’re the wealthiest person in the world, a fine of just $40 million is the kind of chump change you find in your couch cushions.
Musk was sued this week by an investor in Twitter over his failure to properly disclose his huge stake in the company. Legally, Musk was required to file a notice with the SEC once he bought 5% of Twitter. But Musk didn’t file the proper paperwork until April 4, a full ten days late. The person who’s suing Musk in this case sold his shares during that period of illegal secrecy and lost money as a result.
What happens now? Twitter has to decide whether to accept this generous offer, or turn it down and deal with a lot of pissed off shareholders.
Elon Musk Wants to Buy 100% of Twitter for $43 Billion (gizmodo.com)
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He can make his own twitter.
Nah he’s not just bored…
Elon is trying to curb social indictment due to the Tesla investigations and racist acts that are prevalent there as well.
he can steer his and other companies through twitter positively or negatively.
Yup and If Elon gets his way I am killing my Twitter account.
Oh he will.... with this one that's already established
Nothing worse than a person that's the richest man in the world being bored
.
Whoa
So true…
I was arguing with some people on Twitter today about this and they was talking about free speech bullshit I like yo I can see a fucking woman playing with a dildo with her asshole on Twitter so what the fuck are you talking about???
Free speech, huh? ....but I seem to recall Tesla having some problems when employees wanted to speak up but suffered consequences fot it...