SIGforum.com Main Page The Lounge Elon Musk buys 73 million shares of Twitter, becomes largest stockholder
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| An investment in knowledge pays the best interest |
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. | |||
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| Get my pies outta the oven!  |
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  | |||
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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.” ----------------------------- 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 | |||
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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. | |||
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| An investment in knowledge pays the best interest |
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. | |||
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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. | |||
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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.
--------------------------------------- It's like my brain's a tree and you're those little cookie elves. | |||
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| As Extraordinary as Everyone Else  |
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.. ------------------ Eddie Our Founding Fathers were men who understood that the right thing is not necessarily the written thing. -kkina | |||
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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 | |||
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Bingo! ----------------------------- 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 | |||
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| Get my pies outta the oven! |
Oh this gonna be good!  The amount of libtard-snowflake tantrums and meltdowns will be epic: Twitter CEO announces town hall with Elon Musk after internal outcry --- Twitter employees received an email on Thursday which stated that they were all invited to an internal AMA, which stands for "ask me anything," session in response to employees internal and public outcry that freedom of speech advocate Musk would "change the company's culture." | |||
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| wishing we were congress |
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 | |||
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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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| Lawyers, Guns and Money  |
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." -- Justice Janice Rogers Brown "The United States government is the largest criminal enterprise on earth." -rduckwor | |||
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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. | |||
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| probably a good thing I don't have a cut |
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. | |||
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| Get my pies outta the oven! |
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! | |||
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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. ----------------------------- 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 | |||
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Wait, what? |
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. “Remember to get vaccinated or a vaccinated person might get sick from a virus they got vaccinated against because you’re not vaccinated.” - author unknown | |||
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Ubique |
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. Calgary Shooting Centre | |||
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SIGforum.com Main Page The Lounge Elon Musk buys 73 million shares of Twitter, becomes largest stockholder
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