Stung by the 'poison' pill, Elon Musk takes a dig at Twitter board's salaries
Elon-Twitter
Elon musk has done it again! The eccentric tech billionaire has shared yet another tweet aimed at further riling up the Twitter controversy.
Taking a swipe at the Twitter board of directors, Musk on Monday made a pretty bold statement about board member salaries. This comes after the social media giant decided to adopt a “poison pill” approach to deal with Musk’s hostile takeover bid of $43 billion.
A Twitter user while talking about Musk’s bid had posted a document along with the text: “Let me point out something obvious: If @elonmusk takes $TWTR private, the TWTR board members don’t have jobs any more, which pays them $250K-$300K per year for what is a nice part-time job. That could explain a lot.”
Responding to the user’s criticism of the board Tesla's CEO tweeted: "Board salary will be $0 if my bid succeeds, so that's ~$3M/year saved right there."
Musk, a self-described "free speech absolutist" who has continuously criticised Twitter's policies, made no further remarks. Twitter is yet to issue a statement in reply.
Watch |'Their salary will be $0, if my bid succeeds,' Elon Musk takes a sly dig at Twitter board
The whole Musk-Twitter saga started with the eccentric billionaire purchasing 9.2 per cent stock in the micro-blogging website. This move at that time made him Twitter’s biggest shareholder, a position that was short-lived. Now, the Vanguard group holds that position with a 10.3 per cent stake.
On Thursday, continuing his tirade against the company Musk launched a poll asking his millions of followers if "taking Twitter private at $54.20 should be up to shareholders, not the board", to which a huge majority responded "Yes".
After Twitter launched the 'poison pill' protocol, a plan to sell shares at a discount to prevent shareholders from amassing a stake of more than 15 per cent, Tesla CEO Elon Musk also tweeted "Love Me Tender," an Elvis Presley song.
Meanwhile, Twitter co-founder and former CEO Jack Dorsey chastised the company's board in a series of tweet replies on Saturday, saying "it's consistently been the dysfunction of the company."
(With inputs from agencies)
