Economies....
Posted on 04/18/2022 8:48:51 AM PDT by shadowlands1960
Musk says salaries for the current board cost $3 million
Elon Musk Twitter bid has some employees excited, some nervous: Tech expert
Billionaire Elon Musk would cut the salaries of Twitter's board of directors to zero if his ongoing attempt to purchase the company succeeds, Musk announced Monday.
Musk offered to purchase Twitter and take it private for $54.20 last week, and Twitter's board is working to fight off the buyout. Board members currently make between $200,000 and $300,000 salaries, equating to an annual cost of roughly $3 million for the company.
"Board salary will be $0 if my bid succeeds, so that’s ~$3M/year saved right there," Musk tweeted.
(Excerpt) Read more at foxbusiness.com ...
The author didn’t place the B for billion in the offered price.
If only he had some billionaire friends who would buy up another 30%, then he’d control the board, at least until he took it private and fired them all.
I think he means that there would be no twitter board
They are hoping and scrambling for a white night to buy them out instead
GOOD
Hell yes, pay the new board in stock.
That’s going to leave a mark.
I think $7.25/hour is still the federal minimum wage.
I think $18/hour is the minimum wage in California.
The board will still be overpaid.
$54.20 is the offered share price.. which adds up to about $43B
Perhaps all boards of companies having public shares should pay board members in shares.
I expect that the left will rally enough resources to fight off Musk’s attempt to take over. The left wants no part of free speech anywhere.
My guess is Musk will take his money, and in the process ruin twitter. That’s not a bad outcome.
It seems a lot considering they don’t care about roughly half of the USA.
I was actually surprised the board salaries were <$1M. I suspect there are share sweeteners in the package...
I wonder if he has a censor-delete plan yet? It won’t be easy, as they will scatter like cockroaches when the kitchen light is turned on at Midnight.
I wish Musk a successful financial fishing expedition.
> Elon Musk would cut the salaries of Twitter’s board of directors to zero <
And I was just about to run for a Twitter board seat. Oh, well. On to my backup plan: get a job as a Walmart greeter.
I expect that the left will rally enough resources to fight off Musk’s attempt to take over.
—
Look for Vanguard, Blackrock and others to increase there share count
And/ or twitter employees buying more stock with any options or on the open market
Microsoft, or more likely google, could also offer a buyout the board will approve
All my retirement planning involves The Lottery...
I think the board members must be paid a dollar per meeting, plus expenses according to most corporate by laws and state/federal taxes.
5.56mm
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