Tesla CEO Elon Musk is Twitter’s second-largest shareholder with a 9.1% stake.
Tesla chief Elon Musk has launched a hostile takeover effort for Twitter
Tesla CEO Elon Musk has vowed to eliminate all spambots on Twitter or “die trying” if his bid to take over the microblogging site succeeds.
“If our Twitter bid succeeds, we will defeat the spam bots or die trying,” Musk tweeted on April 22.
The world’s richest man added that he will “authenticate all real humans” on the social media site. Musk’s latest assurance comes a day after he informed US regulators about securing $46.5 billion in debt and equity financing to buy Twitter and is considering taking his offer directly to shareholders.
Musk himself has committed to put up $33.5 billion, which will include $21 billion of equity and $12.5 billion of margin loans against some of his Tesla shares to finance the transaction.
The world’s richest person according to a tally by Forbes on April 14 presented a “best and final” cash offer of $43 billion to Twitter’s board saying the social media company needs to be taken private to grow and become a platform for free speech. He has said that he could make big changes at the microblogging company where he has a following of more than 80 million users.
Musk is Twitter’s second-largest shareholder with a 9.1% stake.
With Tesla’s strong quarterly report on April 21, Musk has scored a hat trick of performance goals worth a combined $23 billion in new compensation.
The world’s most valuable carmaker posted March quarter revenue and profit that surged past Wall Street estimates as it raised prices in response to inflation, offsetting the impact of a Shanghai factory shutdown.
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