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https://nypost.com/2022/04/27/elon-musk-banned-from-criticizing-twitter-under-terms-of-44b-buyout/
 

Elon Musk banned from criticizing Twitter under terms of $44B buyout

By Thomas Barrabi

April 27, 2022 10:27am Updated

Elon Musk’s $44 billion Twitter buyout agreement includes a bizarre clause banning him from tweeting criticism about the company – though the billionaire already appears to be testing the rule’s limits.

An SEC filing published this week detailing the agreement notes Musk – identified in the document as “equity investor” – “shall be permitted to issue Tweets about the Merger or the transactions contemplated hereby so long as such Tweets do not disparage the Company or any of its Representatives.”

Current Twitter employees have expressed concern about Musk’s brash communication style on the platform, which he regularly uses to relay key information about his other firms, such as Tesla and SpaceX, and to poke fun at rivals such as Bill Gatesand Bernie Sanders.

The clause was implemented following contentious negotiations between Twitter’s board of directors and Musk — who has vowed to re-center the platform to protect free speech.

Musk publicly stated his belief that Twitter’s outgoing leadership wasn’t equipped to bring the company to his full potential, while the board initially enacted a “poison pill” provision to limit his leverage during buyout talks.

While the provision is designed to prevent Musk from being critical of Twitter while the company is in limbo, the tech entrepreneur is still taking aim at some current staffers.

On Tuesday evening, Musk tweeted that top Twitter lawyer Vijaya Gadde’s decision to ban The Post’s story about Hunter Biden’s laptop ahead of the 2020 presidential election was “obviously incredibly inappropriate.”

Musk’s jab came in response to a post from podcast host Saagar Enjeti, who shared a Politico article revealing Gadde broke down in tears while discussing the takeover.

Musk also responded to another tweet from right-wing influencer Michael Cernovich, who shared a Washington Post article about Twitter deputy general counsel Jim Baker and claimed he had “facilitated fraud.”

“Sounds pretty bad,” Musk said.

Twitter did not immediately return a request for comment.

The Twitter muzzle clause is one of several noteworthy provisions included in Musk’s agreement with the company’s board of directors.

The SEC filing revealed that both Musk and Twitter are subject to a $1 billion breakup fee if they fail to follow the agreement’s terms. That fee would only apply under certain conditions, such as if Twitter accepted a different offer from a third party or if Musk’s financing falls through before the deal is complete.

The document also provides clarity on how Twitter will handle employees’ stock holdings when the company goes private – with workers holding awards that have yet to vest given the option of being paid out in cash.

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12 hours ago, karbatal said:

Is this picture true? He implanted hair and had surgery to have a big jaw? 
 

 

E01A92C9-2CE0-4377-8A9C-8F5AB9D5AEAE.jpeg

Yep

elon.jpg

main-qimg-3a8fbef3b5aa4b304c12e777b57f08c6-lq.jpeg

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It seems to me now that the established car manufacturers are on board with electric to the point they have committed to phasing out petrol/gas, Tesla will not be able to compete. There has been no innovation in the whole time so Tesla’s seem so dated compared to electric models from BMW, Mercedes-Benz, Volvo, Jaguar etc. Musk really has become a caricature of the evil billionaire.  

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I say it all the time when he comes up in conversation, but he's basically a real life caricature of a Bond villain.

Besides the obvious examples, there's always been something very 'off' about him. Sometime about him I don't trust...a gut sort of feeling. Had it for years long before his bullshit of the past couple years.

And then there's the bizarre cult of personality built around him. Very concerning...

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On 4/30/2022 at 4:23 PM, karbatal said:

How do they make him gay? Or is that the real deal? When it comes to deep fakes I’m like a grandma. 

It’s someone who looks crazily like him!

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6 hours ago, runa said:

Hard to use Tesla as leverage for impulsive vanity projects when it's tanking, and his increasingly-erratic behavior and bizarre public statements revolving around the drama of Twitterworld diminishing investor confidence in it by the day is a major factor in that.

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14 minutes ago, LSD said:

Hard to use Tesla as leverage for impulsive vanity projects when it's tanking, and his increasingly-erratic behavior and bizarre public statements revolving around the drama of Twitterworld diminishing investor confidence in it by the day is a major factor in that.

This guy has so much power, it’s just insane. He plays with that just like a kid plays with his toys.

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Let's see if this blind is true:

The celebrity CEO is just blowing off steam. He realizes that he has overpaid for the bird company. The problem for him, is that his objection is financially immaterial, and he publicly complained about the issue before signing the deal. The merger agreement allows the bird company to take the celebrity CEO to court, and force him to close the deal. The only way the celebrity CEO can get out of the deal, would be if the financial books were completely fraudulent at the bird company, which they most certainly are not. Best case for the celebrity CEO is the bird company knocks a dollar or two per share off the price, to allow everyone to save face. When the celebrity CEO takes control of the company, he will slash expenses to the bone, and there will be massive layoffs

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1 hour ago, jonski43 said:

Let's see if this blind is true:

The celebrity CEO is just blowing off steam. He realizes that he has overpaid for the bird company. The problem for him, is that his objection is financially immaterial, and he publicly complained about the issue before signing the deal. The merger agreement allows the bird company to take the celebrity CEO to court, and force him to close the deal. The only way the celebrity CEO can get out of the deal, would be if the financial books were completely fraudulent at the bird company, which they most certainly are not. Best case for the celebrity CEO is the bird company knocks a dollar or two per share off the price, to allow everyone to save face. When the celebrity CEO takes control of the company, he will slash expenses to the bone, and there will be massive layoffs

Either way he will be once again destroying instead of creating. 

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Elon Musk loses $12 billion in a day as he tweets politics

PUBLISHED: May 19, 2022 at 5:08 a.m. | UPDATED: May 19, 2022 at 5:56 a.m.

By Brian Chappatta | Bloomberg

Elon Musk spent Wednesday on Twitter, announcing his political switch from Democrat to Republican, trashing ESG and replying to several users of the social-media website he’s agreed to buy.

Tesla, meanwhile, sank to the lowest level this year, wiping $12.3 billion from his wealth, while Twitter further extended its slide. All told, Musk has lost $49 billion since launching his bid for Twitter last month, partly as the wider market tumbled and as some investors in Tesla grew concerned over how he’d fund his offer for the social-media giant.

Musk, 50, remains the world’s richest person, with a fortune of $209.9 billion, according to the Bloomberg Billionaires Index. He’s shaved $60.4 billion off his wealth this year, trailing only Binance’s Changpeng Zhao, who’s down $81 billion, and Jeff Bezos’s $62 billion drop.

Tesla’s CEO has grown increasingly vocal since launching his $44 billion offer for Twitter. Wednesday was no exception.

He tweeted that ESG was “a scam” after Tesla lost its spot on an S&P Global index that tracks companies on their environmental, social and governance standards. He also predicted that “political attacks” on him would “escalate dramatically in coming months.”

In a separate tweet, Musk said he’d supported Democrats in the past because “they were (mostly) the kindness party,” but has now changed his mind.

“They have become the party of division & hate, so I can no longer support them and will vote Republican,” he said.

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