Elon Musk wants to cut Twitter CEO’s salary

TThe head of esla, Elon Musk, responded with a volley to the board of Twitter, which is resistant to a planned acquisition by Musk. “(Twitter’s) Executive Salary will be $0 if my offer is successful,” Musk tweeted Monday. “So that’s $3 million a year we’re saving here,” Musk tweeted back at a post by another user who had criticized Twitter’s board.

Musk already owns around nine percent of Twitter and wants to take over the company for around $43 billion. Twitter’s board isn’t thrilled about this and has reacted with a “poison pill”: Twitter on Friday announced the launch of a frequently used procedure that is intended to make it harder for big investors to increase their stake.

According to a source, investment firm Thoma Bravo, which focuses on the technology industry, has also informed Twitter that it is also examining a bid for Twitter. However, it’s unclear how high this could be and whether it will reach it, the person familiar with the process said. Thoma Bravo declined to comment on this.

Twitter shares rose 3.5 percent on Monday to $46.68. That’s well below the $54.20 Musk is offering per share.

.

Leave your vote

Leave a Comment

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.