The richest person in the world, Elon Musk continues to come up frequently. Musk, who became one of the biggest shareholders of the company by purchasing 9.2 percent of the shares of Twitter, one of his most preferred platforms a while ago, drew attention by presenting an offer to buy the entire platform.
On Twitter, a possible purchase is not welcomed. Because if we consider strategies such as the poison pill applied by the board of directors, Elon Musk’s job is not easy at all. Finally, Musk announced the first action he will take if the purchase offer is accepted.
Elon Musk will not pay the Twitter Board of Directors
Elon Musk became the largest shareholder of the platform after purchasing 9.2 percent shares. But it soon lost that title after investment firm Vanguard Group increased its stake to 10.3 percent. Otherwise, it still holds the title of largest individual shareholder.
Elon Musk Twitter
Although Elon Musk has moved away from his target of purchasing Twitter after the recent developments, his first action if the purchase offer is accepted in the past days explained. The business person will not pay the board of directors if the offer is accepted.
According to the U.S. Securities and Exchange Commission (SEC) filing, the Board of Directors receives a combined annual salary and stock awards of $2.9 million. This corresponds to an annual salary of $250,000 to $300,000 for each member. However, according to Elon Musk, this salary paid to the board of directors is a complete waste. Of course, we can say that the tension between the board and Musk during the purchasing process also played a role.
So what do you think about this issue? Do you think Elon Musk can succeed in his goal of acquiring Twitter? Do not forget to share your views with us in the comments section or on the SDN Forum.
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