After the purchase of 9.2% of shares in Twitter and rejecting being added to the Twitter board of directors, Elon Musk is still relentless in his efforts to privatize Twitter. Despite a series of attempts to buy over Twitter, the company and the majority of its board of directors are still standing their ground on not selling off Twitter to Elon Musk.
The billionaire and owner of Tesla, Elon Musk, is adamant about his desire to own Twitter and control its affairs. In a recent update, Elon Musk has stated that he is ready to top-up his original bid with $10-15 billion dollars of his private funds to purchase Twitter. Musk was able to pull together this fund despite not being able to get help from private equity firms to aid with his aim to acquire Twitter. The billionaire has made a lot of statements about changing certain things within the social media company to its benefit if allowed to buy over Twitter. Some of these agendas of his include letting go of all members of the board of directors, hence saving Twitter a fortune.
Musk is not alone in his stand to take over the affairs of Twitter, former Twitter CEO and co-founder Jack Dorsey has also given his approval to Musk’s Twitter takeover. Jack Dorsey pointed to the Twitter board of directors as being dysfunctional and a hindrance to freedom of speech. Twitter on the other hand has well-prepared a “poison pill” to prevent any impending takeover from Elon Musk.
