The Twitter board played the poison pill hand on Friday in a last-ditch whiney baby attempt to stop Musks’ hostile takeover. In so doing they are blatantly shirking their financial responsibility and duty to the shareholders – and possibly violating the law.
Everyone knows it’s an ideological move, not a fiduciary one, including Elon Musk, who dunked on the board on Saturday.
A Twitter user tweeted at Musk about the board’s lack of personal financial interest, and Musk pointed out what the means about how their interests align with the companys many other shareholders who own the bulk of the shares. Keep in mind a huge amount of those shares are held in funds that are people’s retirement and savings.
“Wow, with Jack departing, the Twitter board collectively owns almost no shares! Objectively, their economic interests are simply not aligned with shareholders.”
Exactly.
Wow, with Jack departing, the Twitter board collectively owns almost no shares! Objectively, their economic interests are simply not aligned with shareholders.
— Elon Musk (@elonmusk) April 16, 2022
And look at this:
!
— Elon Musk (@elonmusk) April 16, 2022
“!” is right. Their interests don’t align with the customer either.
So who DO their interests align with?
Oh I think y’all know.