He is a big clown. Nothing surprising here.
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Elon Musk Wants to Terminate $44 Billion Twitter Acquisition [Updated]
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Please don't denigrate perfectly respectable clowns with that comparison
The fee is between Musk and Twitter and comes into play if either party decides to cancel the deal. If Musk cancels, he owes Twitter the fee. If Twitter cancels (to accept a richer offer), then they owe Musk the fee. As Musk has signaled his intent to cancel, he owes the fee to Twitter.
What you are referring to is known as a "reverse breakup fee" and is paid by the buyer if they cannot complete the deal due to an outside reason like regulatory intermediation (the SEC or FCC, for example) or third-party financing concerns (like a major financial backer pulling out their financing commitment). I do not know if there is such a fee attached to this deal, but even if there were, it would not be in play because Musk is voluntarily intending to cancel.
The way this man is obviously pulling all these stunts to influence stock markets and so far has just gotten away with it is astonishing.
Eat the rich
Eat the rich
Saw this coming. He never wanted to buy Twitter, he just wanted the press.
Ouch!
This time, mouthing off will cost him some real money. 😁
I have no doubt Twitter can hire a strong legal team.
This time, mouthing off will cost him some real money. 😁
I have no doubt Twitter can hire a strong legal team.
For sure, but so can he. A better one even.
I think this is false, the fee only comes into play if a third party (like the FTC, SEC, etc.) cancels the deal.
Elon Musk can't just walk away from his Twitter deal by paying a $1 billion breakup fee
Musk can't just walk away from buying Twitter, despite a $1 billion reverse break fee attached to the deal.
So do people want him to lose and thus own twitter? I am confused...
It is amazing how people on the internet just act like they know things and say them when they are actually wrong, isn't it?
They don't know what they want.
I think most rational people don't want this. The guy has become unhinged in the past few years. It would be a really bad idea to give him control of one of the largest social media platforms in the world.
The Twitter board and investors want it because it's a payday. Period. They don't care about the platform, just cash in the bank.
Sued? Twitter said that there were only "x%" of bots, and multiple independent bodies found that Twitter mis-represented material facts in the number of bots. This is what we call "fraud". In fact, what will likely happen next is that advertisers, who were promised an engagement platform of reaching potential customers, were in fact, paying inflated prices to advertise to non-entity bots. That is fraud, against multiple advertisers, over years. Share Holders, who were told in SEC filings that Twitter engaged with some number of people on their platform, were lied to.
Yet, somehow all of Twitter's fraud is Musk's fault? If I were to sell you a car, and you found out I lied about the mileage on the car, the year of the car, the accident record of the car, the maintenance issues with the car, and even something as basic as the size of the engine in the car - because of fraud, any contract is NULL and VOID. It's not rocket science.
Which coincidentally Musk does know.
TheYayAreaLiving 🎗️
Suspended
I agree. Free publicity. He wanted that and he got it for free. He also made millions off of it.
All I know is somehow everyone involved will be wealthier tomorrow than they are today. This system is working as planned. Barf.
Not sure I understand the people saying this was for publicity. Musk was very well known before this, it isn't like he became famous from this.
The fact that the stock market is affected by one man’s comments on multiple occasions reflects how volatile the market is and the dunces that buy/sell based on this. Similar to how people buy stock before an iPhone comes out then brag…it’s literally a scheduled yearly release the stock market doesn’t work like that and those that think it does are the losers.
Classic pump and dump like others have stated and those that pump are chumps. SEC won’t do anything about it.
"This is the first time Elon Musk has ever pulled out"
Ben Smith
Ben Smith
Ummm, Fraud? The BoD did not own a substantial amount of shares in Twitter; yet were compensated for representing the Share Holders. The number of bots in Twitter was found to be far above the amount stated by the BoD and Sr. Management - it's THEIR JOB to know how many users are real. When you make financial misstatements with the intent to commit fraud, you have broken many Federal, State and local laws. Not the least would be
Real question: proving intent could be tricky, yes? Or no: it’s pretty black/white? Again, real question. Thnx.
I personally want him to lose 1B or more, not own Twitter, and then get banned from Twitter because he pulled this bull ****.
You want him banned because he has different opinions than you, that's the real reason