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Elon Musk buys 73 million shares of Twitter, becomes largest stockholder Login/Join 
An investment in knowledge
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quote:
Originally posted by bigdeal:
I heard it debated this morning that the reason Dipshit Dorsey and the current CEO Agrawal welcomed Musk to the board was to limit his ownership in the company to no more than 14%. As only an investor, Musk could have continued acquiring Twitter stock up to and/or beyond the 30% threshold to essentially own Twitter. Face it folks, this leftist garbage is terrified of Musk and what he's up to right now. That alone gives me a very warm and fuzzy feeling inside.

Not sure who was debating but they don't know the facts. Joining a public BoD, one has to put in place controls regarding trading... one of which is to not acquire or dispense of the respective corp stock for 90 days. After that, he can buy as much as he desires. They "welcomed him" b/c he has enough bloc of shares to vote himself in... and potentially others out.
 
Posts: 3362 | Location: Mid-Atlantic | Registered: December 27, 2002Reply With QuoteReport This Post
Get my pies
outta the oven!

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And now I hear the Biden SEC is trying to go after Musk because they claim he "didn't follow the rules" with the stock purchase?

These people are so transparent it's laughable Roll Eyes


 
Posts: 33425 | Location: Pennsylvania | Registered: November 12, 2007Reply With QuoteReport This Post
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quote:
Originally posted by Dakor:
quote:
Originally posted by bigdeal:
I heard it debated this morning that the reason Dipshit Dorsey and the current CEO Agrawal welcomed Musk to the board was to limit his ownership in the company to no more than 14%. As only an investor, Musk could have continued acquiring Twitter stock up to and/or beyond the 30% threshold to essentially own Twitter. Face it folks, this leftist garbage is terrified of Musk and what he's up to right now. That alone gives me a very warm and fuzzy feeling inside.

Not sure who was debating but they don't know the facts. Joining a public BoD, one has to put in place controls regarding trading... one of which is to not acquire or dispense of the respective corp stock for 90 days. After that, he can buy as much as he desires. They "welcomed him" b/c he has enough bloc of shares to vote himself in... and potentially others out.
This wasn't where I originally saw it, but this was the first entry to come up on my Google search. The securities filing for Musk 'does' limit him to no more than a 14.9% share of the company during his tenure on the board and 90 days thereafter. Had Musk 'not' accepted a board position, he could have kept buying up stock until he essentially owned Twitter, something that Agrawal's and Dorsey's would seek to prevent at all costs.
Link

In a securities filing Tuesday, Twitter said that Musk will be named to the board as “promptly as practicable,” with a term set to expire at the 2024 annual meeting. The letter agreement between Twitter and Musk also stipulates that “for so long as Mr. Musk is serving on the Board and for 90 days thereafter, Mr. Musk will not, either alone or as a member of a group, become the beneficial owner of more than 14.9 percent of Company’s common stock outstanding.”


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Guns are awesome because they shoot solid lead freedom. Every man should have several guns. And several dogs, because a man with a cat is a woman. Kurt Schlichter
 
Posts: 33845 | Location: Orlando, FL | Registered: April 30, 2006Reply With QuoteReport This Post
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The guy does what he wants too. I have a friend who worked for NASA for over 25 years in Master Control in Huston. I asked him what he thought of Musk. He said he admired him because when he wants something done his staff does it. He said at NASA they had to almost beg Congress for money to build the equipment for the missions, even scalping equipment from the Apollo rockets for other missions equipment. Musk does what he wants too and that scares some people.
 
Posts: 4472 | Registered: November 30, 2004Reply With QuoteReport This Post
An investment in knowledge
pays the best interest
posted Hide Post
quote:
Originally posted by bigdeal:
quote:
Originally posted by Dakor:
quote:
Originally posted by bigdeal:
I heard it debated this morning that the reason Dipshit Dorsey and the current CEO Agrawal welcomed Musk to the board was to limit his ownership in the company to no more than 14%. As only an investor, Musk could have continued acquiring Twitter stock up to and/or beyond the 30% threshold to essentially own Twitter. Face it folks, this leftist garbage is terrified of Musk and what he's up to right now. That alone gives me a very warm and fuzzy feeling inside.

Not sure who was debating but they don't know the facts. Joining a public BoD, one has to put in place controls regarding trading... one of which is to not acquire or dispense of the respective corp stock for 90 days. After that, he can buy as much as he desires. They "welcomed him" b/c he has enough bloc of shares to vote himself in... and potentially others out.
This wasn't where I originally saw it, but this was the first entry to come up on my Google search. The securities filing for Musk 'does' limit him to no more than a 14.9% share of the company during his tenure on the board and 90 days thereafter. Had Musk 'not' accepted a board position, he could have kept buying up stock until he essentially owned Twitter, something that Agrawal's and Dorsey's would seek to prevent at all costs.
Link

In a securities filing Tuesday, Twitter said that Musk will be named to the board as “promptly as practicable,” with a term set to expire at the 2024 annual meeting. The letter agreement between Twitter and Musk also stipulates that “for so long as Mr. Musk is serving on the Board and for 90 days thereafter, Mr. Musk will not, either alone or as a member of a group, become the beneficial owner of more than 14.9 percent of Company’s common stock outstanding.”

If Musk purchases stock equal to or more than 15% of the total securities of the firm, I believe it puts him into a special category and a different filing is necessary. Of course he can execute an agreement as stipulated but think about it for a sec.... At any time Musc can resign from the Board. He waits the mandatory min time, purchases more stock and gains even greater voting power - forcing the board to do his bidding or he might vote his opponents out. His actions are demonstrating that he is conserving financial resources, utilizing his current ownership strategically to force change.
 
Posts: 3362 | Location: Mid-Atlantic | Registered: December 27, 2002Reply With QuoteReport This Post
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Originally posted by bigdeal:
quote:
Originally posted by kho:
He saw this as a profitable investment opportunity, not to take over the world. You can never have enough billions.
Except you totally missed one obvious issue....when you're someone with Musk's money, he has a dozen investment opportunities a week come across his email where he can make this (if not more) money. No, I think this purchase was not solely about making money. I think (at least I hope ) he has designs on pushing Twitter in a direction they currently don't want to go.


I was going off his SEC filing which was all we had at the time of the announcement (and the stock price history) that said this was a passive investment. My day job is as a securities attorney and I tend to accept such tings. Probably should have also considered Musk's history with the SEC. But since then events have proven you right and me wrong.

It will be fine with me if he pushes them out of the conservative canceling business.
 
Posts: 540 | Location: S Fla / Western NC High Country | Registered: May 03, 2015Reply With QuoteReport This Post
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They will always telegraph what they are most afraid of. The libtards are so worried about the end of the halcyon days of unilaterally crushing conservative voices in social media in breach of the 1A.



quote:
Originally posted by PASig:
And now I hear the Biden SEC is trying to go after Musk because they claim he "didn't follow the rules" with the stock purchase?

These people are so transparent it's laughable Roll Eyes


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Posts: 3625 | Location: Cary, NC | Registered: February 26, 2013Reply With QuoteReport This Post
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I think Musk has enough clout even without owning a larger percentage because the board knows he has enough “FU” money to do just that if they don’t do what he wants..


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Posts: 6262 | Location: In transit | Registered: February 19, 2013Reply With QuoteReport This Post
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quote:
Originally posted by Dakor:
If Musk purchases stock equal to or more than 15% of the total securities of the firm, I believe it puts him into a special category and a different filing is necessary. Of course he can execute an agreement as stipulated but think about it for a sec.... At any time Musc can resign from the Board. He waits the mandatory min time, purchases more stock and gains even greater voting power - forcing the board to do his bidding or he might vote his opponents out. His actions are demonstrating that he is conserving financial resources, utilizing his current ownership strategically to force change.
You're actually making my point. I think Agrawal and crew did what they did in the hopes of slowing Musk while hoping they can bend him to their way of thinking rather than to stand by and let him continue to buy full control of Twitter, at which point he'd be completely unstoppable.

Of course Musk is as you note conserving capital, sliding onto the board, and trying to change the way they do business, knowing full well he can always resign, buy up full controlling interest in the company, and force them to do as he wants.


-----------------------------
Guns are awesome because they shoot solid lead freedom. Every man should have several guns. And several dogs, because a man with a cat is a woman. Kurt Schlichter
 
Posts: 33845 | Location: Orlando, FL | Registered: April 30, 2006Reply With QuoteReport This Post
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quote:
Originally posted by smlsig:
I think Musk has enough clout even without owning a larger percentage because the board knows he has enough “FU” money to do just that if they don’t do what he wants..
Bingo!


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Guns are awesome because they shoot solid lead freedom. Every man should have several guns. And several dogs, because a man with a cat is a woman. Kurt Schlichter
 
Posts: 33845 | Location: Orlando, FL | Registered: April 30, 2006Reply With QuoteReport This Post
Get my pies
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Posts: 33425 | Location: Pennsylvania | Registered: November 12, 2007Reply With QuoteReport This Post
wishing we
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Elon Musk has decided not to be on the board of directors

https://townhall.com/tipsheet/...rd-afterall-n2605735

Elon Musk Isn’t Joining the Twitter Board After All
 
Posts: 19423 | Registered: July 21, 2002Reply With QuoteReport This Post
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Originally posted by sdy:
Elon Musk has decided not to be on the board of directors

https://townhall.com/tipsheet/...rd-afterall-n2605735

Elon Musk Isn’t Joining the Twitter Board After All


Declining joining the board keeps the door open to him freely purchasing more stock, since the terms offered were only had he became a board member.


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$
 
Posts: 7655 | Location: Mid-Michigan, USA | Registered: February 17, 2006Reply With QuoteReport This Post
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Declining joining the board keeps the door open to him freely purchasing more stock,

Yep. As a board member he would be limited to 14.9% of the company.

OTOH... he may have just decided it was more trouble than it's worth.
“I don't want to belong to any club that would accept me as one of its members.”



"Some things are apparent. Where government moves in, community retreats, civil society disintegrates and our ability to control our own destiny atrophies. The result is: families under siege; war in the streets; unapologetic expropriation of property; the precipitous decline of the rule of law; the rapid rise of corruption; the loss of civility and the triumph of deceit. The result is a debased, debauched culture which finds moral depravity entertaining and virtue contemptible."
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Posts: 23780 | Location: St. Louis, MO | Registered: April 03, 2009Reply With QuoteReport This Post
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If he doesnt join the board, he is free to do a lot of things, like buy more stock as pointed out, while still having some influence over company decisions.

Maybe he likes the power of the veiled (or maybe not so veiled) threat of "dont make me buy this company and fire all you douchebags..."


---------------------------------------
It's like my brain's a tree and you're those little cookie elves.
 
Posts: 3625 | Location: Cary, NC | Registered: February 26, 2013Reply With QuoteReport This Post
probably a good thing
I don't have a cut
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Elon Musk is just another billionaire. He may be doing something now that we think is a good thing but I'm never going to be a cheerleader for that douchebag.
 
Posts: 3347 | Location: Tampa, FL | Registered: February 09, 2002Reply With QuoteReport This Post
Get my pies
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So what's his game here?

Is he going to buy the whole dammed thing and fire every blue-haired leftist Millennial there? Would be like 90% of the company! Big Grin


 
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Originally posted by PASig:
So what's his game here?
That's the billion dollar question. Although doing what he's opted to do should send the leftists at Twitter into even more convulsions over what he's up to.


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Guns are awesome because they shoot solid lead freedom. Every man should have several guns. And several dogs, because a man with a cat is a woman. Kurt Schlichter
 
Posts: 33845 | Location: Orlando, FL | Registered: April 30, 2006Reply With QuoteReport This Post
Wait, what?
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quote:
Originally posted by PASig:
So what's his game here?


I wonder if his plan is to acquire twatter in conjunction with finishing up his Starlink accessibility. Imagine being able to enable that platform to be used anywhere on the planet and at any time. If that’s it, I hope he helps discard the obvious left lean in the process.




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Posts: 15424 | Location: Martinsburg WV | Registered: April 02, 2011Reply With QuoteReport This Post
Ubique
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Maybe he can just outsource the fact checking to say India where they don't really care about US politics. Then either there is real fact checking, or worst case Indian patriots have their voices muted.


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