Business Wars Flipping the Bird: Elon vs Twitter | I Am Supposed to Believe This Man is a Genius? | 2
Elon Musk's $44 Billion Twitter Takeover Sparks Chaos and Doubt
Elon Musk shocked the world by making a $44 billion offer to take Twitter private, forcing the board into a corner with a bold, unsolicited bid.
Despite being the richest man, Elon had to scramble to secure financing and notably waived due diligence, an almost unheard-of move for such a massive deal.
He then publicly questioned Twitter's value by claiming the platform had an unexpectedly high number of spam accounts, seemingly trying to create an exit ramp or renegotiate the deal.
Internal Twitter employees were thrown into uncertainty and disappointment, especially after Elon’s rambling and unfocused comments during an all-hands meeting, raising serious doubts about his leadership and genius status.
This episode captures the high-stakes drama and the wide ripple effects on shareholders, executives, and employees as Elon pushed forward with his disruptive takeover plan.
Board Cornered by Elon Offer
- Elon Musk's $44 billion offer to buy Twitter forced the board into a corner.
- The board had to seriously consider the apparently too-good-to-refuse offer despite uncertainties.
Board Evaluates Musk's Offer
- Twitter board hired bankers to evaluate if Elon Musk's $44 billion offer truly maximized shareholder value.
- They needed to justify rejecting or accepting offers responsibly to shareholders.