Photo: Tesla on YouTube
Elon Musk made headlines last week after making public his plans to buy social media platform Twitter. On Monday, the Tesla Motors CEO took a swipe at Twitter's board after the famous social media company adopted a "poison pill" to shield itself from his $43 billion cash buyout offer, Reuters reported.
Musk's decision to take over Twitter has received mixed reactions. Twitter's shares rose by roughly 15%, while Tesla's fell 3.7%. Tesla's investors feel the move could affect the auto manufacturer's future.
In a tweet responding to a user criticizing the board's decision, Tesla's CEO said the board's salary would be $0 should his bid succeed, adding the company will save $3 million per year. He did not elaborate further on the tweet.
Last week, Musk offered to buy Twitter for $54.20 a share a week after revealing his 9.1% stake in the company. He said the social media company needs to go private. His offer values the giant social media platform at about $43 billion.
The Space X CEO launched a poll on Twitter asking his 80 million followers if the decision to take the company private should be up to the shareholders and not the board. Most followers responded with "yes."
Twitter's shares are currently at $46.85 lower than Musk's offer of $54.20.
To express his feelings to the board after the social media company opted to sell shares at a discount to prevent him or any other stakeholder from amassing more than 15%, he tweeted Elvis Presley's "Love Me Tender" song.
Musk isn't the only one with a bone to chew with the board. In a series of tweets on Saturday, co-founder and former Twitter CEO Jack Dorsey called out the board, saying it has consistently been the company's dysfunction.
Buyout firm Thoma Bravo LP has also expressed interest in the company and is putting together a bid to rival Musk's $43 billion offer. The technology-focused private equity firm has more than $103 billion in assets under management as of December.
In a tweet responding to a user criticizing the board's decision, Tesla's CEO said the board's salary would be $0 should his bid succeed, adding the company will save $3 million per year. He did not elaborate further on the tweet.
Last week, Musk offered to buy Twitter for $54.20 a share a week after revealing his 9.1% stake in the company. He said the social media company needs to go private. His offer values the giant social media platform at about $43 billion.
The Space X CEO launched a poll on Twitter asking his 80 million followers if the decision to take the company private should be up to the shareholders and not the board. Most followers responded with "yes."
Twitter's shares are currently at $46.85 lower than Musk's offer of $54.20.
To express his feelings to the board after the social media company opted to sell shares at a discount to prevent him or any other stakeholder from amassing more than 15%, he tweeted Elvis Presley's "Love Me Tender" song.
Musk isn't the only one with a bone to chew with the board. In a series of tweets on Saturday, co-founder and former Twitter CEO Jack Dorsey called out the board, saying it has consistently been the company's dysfunction.
Buyout firm Thoma Bravo LP has also expressed interest in the company and is putting together a bid to rival Musk's $43 billion offer. The technology-focused private equity firm has more than $103 billion in assets under management as of December.
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