According to new report from The Washington Post who relies heavily on anonymous sources, the world’s richest man is still seeking a way out of a $44 billion deal he himself made.
The Post reports that, according to unnamed sources familiar with his plans, we are likely to see “a change of direction on the part of Musk’s team” soon. In addition, Musk and friends have reportedly “stopped participating in certain discussions” regarding the financing of the deal. Oracle co-founder Larry Ellison, Sequoia Capital, Andreessen Horowitz, Binance and Fidelity are all ready for funding after signing a contract in early May.
Musk appears to be sowing doubts about Twitter bot scores again with these new shenanigans, but how and whether these supposed concerns will even affect a deal he has already signed up for is far from clear. The terms of the merger agreement include a clause that Musk will have to pay $1 billion if he backs out of the deal, though it certainly looks like he’s skimming the fine print here looking for a way out of that as well.
Musk has made a lot of noise in recent months, claiming he was misled by Twitter about the number of bots and spam accounts on the platform. Twitter held a press conference on Thursday to revise its bot counting methodology, which has long shown that less than 5 percent of the platform’s accounts are not real people.
Musk offered to buy Twitter back in April, and the company soon accepted the offer. After that — and after the economic winds turned, taking his Tesla shares with them — the CEO of SpaceX and Tesla said the deal he had already agreed to with Twitter was “on hold,” a status not supported by any documents or external facts other than Musk’s tweets.
It all seems like a subtle charade for a guy who is hoping to get out of an untimely acquisition. But unfortunately for Musk and the Twitter staff who have been on this multi-month acquisition rollercoaster, the ink on the deal has dried up.
Last month, Musk took part in corporate call with Twitter employees is a rare instance of actually interacting with the entity he wants to buy, and a gesture signaling that he is moving forward with a deal he should be moving forward with.
Since he began maneuvering to buy Twitter this spring, a few things have changed. In the intervening time, markets have tumbled off the cliff and there have been reports that Musk has taken a risk. SpaceX flight attendant who later received a quarter of a million dollars for his silence. Oh and Musk apparently recently gave birth to children from a Neuralink employee who reports directly to him – not quite inspirational leader profile. However, Musk is on track to take over Twitter.
Credit: techcrunch.com /