Elon Musk: Board members won’t get paid if I buy Twitter

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Musk, in his post on his Twitter account, stated that if he buys Twitter, the people who will take charge of the company’s board of directors will not be paid.

Elon Musk, in response to a social media user’s post criticizing the Twitter board, emphasized that Twitter will save $3 million a year on salaries that will not be paid to the board of directors.

Musk, who previously bought a 9.2 percent stake in Twitter, announced to the US Securities and Exchange Commission (SEC) on April 14 that it was $54.2 per share for the entire Twitter. had made an offer.

Twitter took a so-called “poison pill” action on April 15, after Elon Musk made an offer to buy the whole of Twitter for about $43 billion. The company’s board of directors unanimously approved the limited-term shareholder rights plan.

With this measure, existing shareholders other than potential buyers retained their right to buy more shares in the company at a lower price.

It is noted that the plan will come into play if Musk or another investor buys more than 15 percent of the company’s shares. ​

Musk shared Elvis Presley’s famous song “Love Me Tender” on his Twitter account after this measure of the Twitter board of directors.

It is stated that this measure taken by the Twitter Board of Directors cannot stop Musk’s purchase attempt, but may make the purchase more expensive or force Musk to sit at the negotiation table.

There were news in the US press that private equity firm Thoma Bravo may also form an offer to buy Twitter.

Musk, one of the richest people in the world with his wealth exceeding 260 billion dollars, has continued to come up with developments regarding the social media company since he bought a Twitter share.

Musk also shared his opinion on many other products on Twitter, from removing ads to an edit button, and also asked his followers if the company’s headquarters should be turned into a homeless shelter.

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