TWTR : Musk Adamant On ‘Free Speech’ 🎤
If Elon Musk is able to take over Twitter Inc., his biggest promise is to transform it into a platform for free speech with few restrictions — something he calls “essential to a functioning democracy.” But Musk, who is famously sensitive to criticism, has a mixed record on championing the cause.
The 50-year-old billionaire has donated over $6 million to the American Civil Liberties Union in the last five years, making him one of its most substantial donors, and he’s discussed free speech on numerous occasions with the organization’s executive director. But in his tweets, public remarks and policies at the businesses he runs, Musk shows little tolerance for speech that’s unflattering to him or his companies, or reflects employee criticism of the workplace.
At Tesla Inc. and SpaceX, Musk has a long track record of silencing or punishing anyone who goes public with criticism of a project or practice. Workers must sign nondisclosure agreements and arbitration clauses that prevent them from taking their employer to court.
Meanwhile, Musk uses his Twitter account, where he has more than 80 million followers and a fan base he can ignite, to publicly mock others, from a local health official during the early days of the pandemic to Parag Agrawal, Twitter’s current chief executive officer.
Musk defined the goal for Twitter at a TED event last week: “A good sign as to whether there is free speech is: Is someone you don’t like allowed to say something you don’t like? If that is the case, then we have free speech.”
But those who have said things Musk didn’t like have seen their reputations publicly trashed. Vernon Unsworth, a British caver who helped rescue 12 boys trapped in Thailand, called Musk’s efforts to help a “PR stunt” in 2018. Musk retaliated by calling him a “pedo guy.” Then he paid $50,000 to a dubious private investigator to dig into Unsworth’s background in the U.K. and Thailand. He also attempted to depose a reporter, Ryan Mac, who was covering Unsworth’s defamation lawsuit against Musk.
That same year, Musk went after Martin Tripp, a worker at Tesla’s battery plant in Nevada. Tripp saw himself as an idealist trying to improve the company’s operations; Musk viewed him as a dangerous foe who engaged in sabotage and shared data with the press and “unknown third parties.”
Tesla’s PR department spread false rumors that Tripp was possibly homicidal and had threatened to “shoot the place up,” even though authorities had already determined that Tripp posed no immediate threat and wasn’t armed.
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US Republican News: A group of 18 U.S. House Republicans on Friday sent Twitter board members a letter asking them to preserve all records and materials relating to Tesla Chief Executive Elon Musk’s offer to purchase Twitter.
"As Congress continues to examine Big Tech and how to best protect Americans’ free speech rights, this letter serves as a formal request that you preserve all records and materials relating to Musk’s offer to purchase Twitter, including Twitter’s consideration and response to this offer, and Twitter’s evaluation of its shareholder interests with respect to Musk’s offer," said the letter signed by the top Republican on the House Judiciary Committee, Jim Jordan, and others.
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Elon Musk is trying to appeal a judge’s finding that his 2018 tweet about taking Tesla Inc. private was false.
Musk, and other defendants in a shareholder lawsuit over the tweet, asked U.S. District Judge Edward M. Chen in San Francisco to certify the order so it can be appealed. Pretrial orders generally can’t be appealed.
The shareholders claim that Musk’s “indisputably false” August 2018 tweet and follow-up posts on Twitter cost them billions of dollars amid wild swings in Tesla’s stock price. A trial is scheduled for January. Chen ruled April 1 that no jury could find that Musk’s tweet wasn’t misleading.
I guess it is worth saying that Elon Musk does not own Twitter Inc. He did not buy Twitter Inc. yesterday for $54.20 per share in cash. He did sign an agreement yesterday to buy Twitter for $54.20 in cash. That is a big step! It means that he probably will end up owning Twitter within a few months or so. (The deal “is expected to close in 2022”; it might take up to six months.) But he does not own it yet.
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Twitter / Musk Saga Gets SEC Probe
On April 4, Musk disclosed a 9.2% stake in Twitter, making him the micro-blogging site's largest shareholder. A week later, he clinched a $44 billion deal to buy the company.
Separately, the Information earlier reported that the Federal Trade Commission is investigating whether Musk violated a law that requires companies and people to report certain large transactions to antitrust-enforcement agencies.
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Latest Updates
Twitter succumbed on Monday to the largest technology leveraged buyout in history, led by the world's richest person. The future is now in flux, with employees, investors and analysts expecting the debt-laden company to slash jobs and purge its executive suite.
Elon Musk is borrowing $25 billion to help him pay for the $44 billion takeover, and he's made it clear big changes are coming with C-suite slashes, team layoffs and downsizing of remunerations expected.
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Latest News
Twitter Inc. shares fell as much as 4.1% on Monday after Hindenburg Research LLC, an investment research firm that focuses on activist short-selling, said it sees a “significant risk” that Elon Musk’s proposed offer to buy Twitter for $44 billion gets repriced lower.
The billionaire disclosed an offer on April 14 to buy Twitter for $54.20 a share and take it public. Initially there was some skepticism over where the world’s richest person would come up with the cash equity to fund the purchase. But about 10 days later,
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Latest Update
Apollo Global Management Inc. is in talks to lead a preferred financing for Elon Musk’s proposed buyout of Twitter Inc., according to people with knowledge of the deal.
The funding, arranged by Morgan Stanley, will exceed $1 billion and may include Sixth Street Partners, among other firms, the people said.
Throwbacks
qElon Musk, the mercurial chief executive officer of Tesla, Inc (TSLA), has reached a $44 billion deal to acquire Twitter and take it private.
The deal, announced this afternoon, is for $54.20 per share in cash, matching the offer Musk proposed to Twitter’s board last week.
“Twitter has a purpose and relevance that impacts the entire world. Deeply proud of our teams and inspired by the work that has never been more important,” stated Twitter chief executive officer Parag Agrawal.
“I hope that even my worst critics remain on Twitter, because that is what free speech means,” tweeted Musk.
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Latest TWTR news :
Twitter is to meeting on Sunday to discuss the offer, according to a WSJ report, which cited people familiar. Twitter (TWTR) is still working to asses its own value, which needs to be close to Musk's bid. The social media company may ask for sweeteners such as breakup fees if the deal were to fall apart.
Twitter is expected to discuss the bid when it reports Q1 results on Thursday or possibly sooner, the WSJ said.
The latest report comes after Musk announced Thursday said he will explore a potential tender offer for Twitter (TWTR), having secured $46.5 billion committed financing for the deal.
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Latest News
Musk said on Wednesday he was also in talks with shareholders, including Jack Dorsey, for additional financing commitments to fund the deal.
Twitter shares jumped around 6% to $39.15 in extended trading. Musk could not be immediately reached for comment.
He initially took a $12.5-billion margin loan, but earlier this month reduced it to $6.25 billion after bringing in co-investors.
In April, Musk had lined up $46.5 billion in debt and equity financing to buy Twitter, with Musk himself committing $33.5 billion. read more
After Musk's offer, Twitter's board initially voted to adopt a poison pill that limited his ability to raise his stake, but later voted unanimously to accept his buyout offer.
Twitter last week said it was committed to the deal at the agreed price of $54.20. Separately, at an annual shareholder meeting on Wednesday, Twitter investors blocked the re-election of an ally of Musk to its board.
Wave of Billionaires buying has kicked off
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If you have the paper, flaunt it like Tesla (TSLA) CEO Elon Musk.
That could be what other billionaires are about to do as they seek to drive headline-grabbing change at well-known public companies as Musk did with Twitter.
"It's the beginning of a wave," Lawrence Elbaum, co-head of Vinson & Elkins' Shareholder Activism practice, said on Yahoo Finance Live (video above). "It's not the first time this has happened. There's lots of billionaires who have bid for companies in the past. There's lots of billionaire activists that have bid for companies."
"Twisla " is forming
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Elon Musk clinched a deal to buy Twitter for $44 billion cash on Monday in a transaction that will shift control of the social media platform populated by millions of users and global leaders to the world's richest person.
It is a seminal moment for the 16-year-old company that emerged as one of the world's most influential public squares and now faces a string of challenges.
Twitter Stronghold Price $47.20
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What's your opinion on buying TWTR shares now? Are they overvalued? @ISSEY1413 @koolgal @shirlyn_lee @萨摩耶云 @boonchong
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Wedbush Securities currently has a "neutral" rating on Twitter stock, with a 12-month price target of $54 per share, and an "outperform" rating on Tesla stock, with a 12-month price target of $1,000 per share.
More than two-thirds of the $46.5 billion financing package that Musk unveiled on Thursday in support of his bid for TwitterInc would come from his assets, with the remainder coming from bank loans secured against the social media platform's assets.
there is a technology rout ongoing and twitter will not be spared
take the money and buy tech stocks on dips
Tesla CEO Elon Musk is reportedly in talks with private equity firms, hedge funds, and other Twitter investors to obtain financing for his Twitter deal.
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Tesla and Twitter if Elon gets his way, Twisla is formed haha