Elon Musk will not pay the board if the offer to buy the Twitter platform is accepted. Here are the details…
Elon Musk, the richest person in the world, continues to come up frequently. Musk, who became one of the biggest shareholders of the company by purchasing 9.2 percent of the shares of Twitter, one of his most preferred platforms a while ago, then drew attention by presenting an offer to buy the entire platform.
On Twitter, on the other hand, a possible purchase situation is not welcomed. Because if we consider strategies such as the poison pill applied by the board of directors, Elon Musk’s job is not easy at all. Finally, Musk announced the first action he will take if the purchase offer is accepted.
Elon Musk won’t pay Twitter Board
Elon Musk became the largest shareholder of the platform after purchasing 9.2 percent shares. But it soon lost that title after investment firm Vanguard Group increased its stake to 10.3 percent. Otherwise, it still holds the title of largest individual shareholder.
Although Elon Musk has moved away from his goal of buying Twitter after the latest developments, he recently announced the first action he will take if the purchase offer is accepted. The business person will not pay the board of directors if the offer is accepted.
The Board of Directors receives a combined annual salary and stock awards of $2.9 million, according to the U.S. Securities and Exchange Commission (SEC) filing. This corresponds to an annual salary of $250,000 to $300,000 for each member. However, according to Elon Musk, this salary paid to the board of directors is a complete waste. Of course, we can say that the tension between the board and Musk during the purchasing process also played a role.
So what do you think about this subject? Do you think Elon Musk can succeed in his goal of acquiring Twitter? Do not forget to share your views with us in the comments section or on the SDN Forum .