Elon Musk would eliminate salaries for Twitter's board if buyout succeeds

Fox Business ^ | April 18th, 2022 | Anders Hagstrom

[shadowlands1960]

Economies....

[Preachin']

The author didn’t place the B for billion in the offered price.

[1Old Pro]

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.

[janetjanet998]

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

[SaveFerris]

GOOD

[OKSooner]

Hell yes, pay the new board in stock.

[Allegra]

"Board salary will be $0 if my bid succeeds, so that’s ~$3M/year saved right there," Musk tweeted.

That’s going to leave a mark.

[Brian Griffin]

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.

[shadowlands1960]

$54.20 is the offered share price.. which adds up to about $43B

[Brian Griffin]

Perhaps all boards of companies having public shares should pay board members in shares.

[brownsfan]

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.

[Brian Griffin]

It seems a lot considering they don’t care about roughly half of the USA.

[shadowlands1960]

I was actually surprised the board salaries were <$1M. I suspect there are share sweeteners in the package...

[Carriage Hill]

At 10¢/hr, they're still grossly overpaid.

[yefragetuwrabrumuy]

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.

[Brian Griffin]

I wish Musk a successful financial fishing expedition.

[Leaning Right]

> 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.

[janetjanet998]

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

[shadowlands1960]

All my retirement planning involves The Lottery...

[M Kehoe]

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