Billionaire Tesla CEO Elon Musk broke his silence about his bombshell $40 billion offer to buy Twitter at the TED2022 conference in Vancouver today.
“I think it’s very important for there to be an inclusive arena for free speech,” he said of his interest in the company.
He said he has secured the assets to purchase the company and take it private if enough shareholders agree, adding that he would like to keep as many shareholders involved as allowed under the new structure.
“I don’t care about the economics at all,” he said. “I have sufficient assets,” Musk added.
“I can do it if possible.”
When asked by TED’s Chris Anderson if there was a “Plan B” if his offer is rejected.
Musk said: “There is.”
He said of the SEC:
“I don’t mean to blame everyone at the SEC but certainly the San Francisco office.
“It was because the SEC knew that funding was secured but they pursued an active, public investigation nonetheless.
“At the time, Tesla was in a precarious financial situation and I was told by the banks that if I did not agree to settle with the SEC that they would, the banks would cease providing working capital and Tesla would go bankrupt immediately.
“So that’s like having a gun to your child’s head.
“So I was forced to concede to the SEC unlawfully,” he said.
Barstool Sports founder Dave Portnoy, who Elon once said should run for office, said:
“So Elon offered 41 billion to buy all of Twitter. Now the Board decides if they want to sell it to him? It’s a no brainer offer and they’d all make a sh-t ton. The only reason to say no is cause they don’t like him right?
“Do I have that right? And if they say yes then everybody who owns any Twitter stock basically gets cashed out at 54.20 a share and it all goes to Elon. That’s wild.
“So maybe it’s not that great an offer. Maybe the Twitter board thinks they are smarter than Elon and can get it to 75 a share. But if they don’t sell the stock price is gonna crash I think. Elon has em by the b*lls.”
Elon Musk on Ted Talk:“My strong intuitive sense is that having a public platform that is maximally trusted and broadly inclusive is extremely important to the future of civilization.” pic.twitter.com/5ly6JCDH2P
— Wittgenstein (@backtolife_2022) April 14, 2022
#ElonMusk expressed doubt about whether he’ll succeed with his $43 billion offer to buy #Twitter in his first public comments about the blockbuster deal #Tedtalk pic.twitter.com/uaMMMuYhFi
— MDWLive! News (@MDWLiveFeed) April 14, 2022
Q:
— “If in this case you are not successful, you know, the board does not accept your offer, you’ve said you won’t go higher. Is there a plan B?”Elon Musk:
— “There is.” pic.twitter.com/9gpgZgwOQZ— Wittgenstein (@backtolife_2022) April 14, 2022
