5 ms·

He's also agreed to never own more than 14%, so effectively agreeing only to be a voice, not a wrecking ball.

doikor 5y ago
Not never but while he is a member of the board + 90 days. Though if he would get more than that not being on the board would be weird so kind of yes never getting more than that.
tawaypol 5y ago
Interesting, 14% is the combined ownership of Blackrock and Vanguard.
incomingpain 5y ago
So typically 30% of a publicly traded corp is enough to be defacto owner. That's just a going rule but I just checked. 80% of twitter is held by institutions. Only 2.5% is owned by insiders. No dorsey to be seen here? No elliot management? https://www.forbes.com/sites/abrambrown/2020/02/29/twitters-jack-dorsey-has-a-new-nemesis-hedge-fund-billionaire-paul-singer/?sh=1ac1a99427d8 https://www.forbes.com/sites/abrambrown/2020/02/29/twitters-... Unless I'm missing something... Elon owns Twitter. This was a super easy hostile takeover... he doesn't need 14% Elon probably doesnt want any sort of key position because afterall he's in constant fight over tesla and sec.
- hetspookjee 5y ago
  Dorsey holds 2.25% of the stock as per one authoritive dutch newspaper NRC. So 0.25% of the stock is held by other insiders, interestingly enough. De voormalige eigenaar en mede-oprichter Jack Dorsey bezit 2,25 procent van de aandelen. [1] [1] https://www.nrc.nl/nieuws/2022/04/04/elon-musk-koopt-aandelen-twitter-is-nu-grootste-aandeelhouder-a4107328 https://www.nrc.nl/nieuws/2022/04/04/elon-musk-koopt-aandele...
dkjaudyeqooe 5y ago
It's Elon Musk, he can't help but being a wrecking ball. We're talking about the 'pedo guy' guy, after all. Twitter will get more attention for sure, but possibly not the kind of attention they want. But apparently there's no such thing as bad publicity. I think of of the interesting things to watch for is if he starts pressuring for the guy who tracks the movements of his private jet to have his account terminated.
- cloutchaser 5y ago
  Quite a wrecking ball creating Tesla and SpaceX. Lots of destruction there. /s
  - camel_Snake 5y ago
    he didn't create Tesla. Maybe you were thinking of the Boring Company?
    - panick21_ 5y ago
      Elon is by far the most import person to Tesla and its not even remotly close. What Tesla is now is basicallt because of Musk. Ok, a few guys had a buissness plan and then used Musk money to totally run the buissness into the ground. Tesla without Musk is just another footnote in the histoy of EV.
  - candiddevmike 5y ago
    Just a few cars driving themselves into concrete barricades. Probably some kind of metaphor there.
    - beeboop 5y ago
      Good thing cars that aren't from Tesla never malfunction in lethal ways. If you ignore the 89 deaths from Toyota vehicle acceleration issues, 271 deaths from Ford's faulty tires in the 90s, 303 dead from GM's faulty ignition switches, 478 deaths from Fiat's engines exploding, and 823 deaths from Ford's Bronco tipping over at speeds as slow as 20MPH.
GoodJokes 5y ago
skybrian 5y ago
I'm not sure what you mean by "wrecking ball," but an activist shareholder can win a proxy fight if other shareholders choose to go along with them. And Musk is pretty good at making investments go up by tweeting things, so they are probably pretty happy about this.

Not never but while he is a member of the board + 90 days. Though if he would get more than that not being on the board would be weird so kind of yes never getting more than that.

tawaypol 5y ago

Interesting, 14% is the combined ownership of Blackrock and Vanguard.

incomingpain 5y ago

So typically 30% of a publicly traded corp is enough to be defacto owner. That's just a going rule but I just checked. 80% of twitter is held by institutions. Only 2.5% is owned by insiders. No dorsey to be seen here? No elliot management? https://www.forbes.com/sites/abrambrown/2020/02/29/twitters-jack-dorsey-has-a-new-nemesis-hedge-fund-billionaire-paul-singer/?sh=1ac1a99427d8 https://www.forbes.com/sites/abrambrown/2020/02/29/twitters-... Unless I'm missing something... Elon owns Twitter. This was a super easy hostile takeover... he doesn't need 14% Elon probably doesnt want any sort of key position because afterall he's in constant fight over tesla and sec.

hetspookjee 5y ago
Dorsey holds 2.25% of the stock as per one authoritive dutch newspaper NRC. So 0.25% of the stock is held by other insiders, interestingly enough. De voormalige eigenaar en mede-oprichter Jack Dorsey bezit 2,25 procent van de aandelen. [1] [1] https://www.nrc.nl/nieuws/2022/04/04/elon-musk-koopt-aandelen-twitter-is-nu-grootste-aandeelhouder-a4107328 https://www.nrc.nl/nieuws/2022/04/04/elon-musk-koopt-aandele...

dkjaudyeqooe 5y ago

It's Elon Musk, he can't help but being a wrecking ball. We're talking about the 'pedo guy' guy, after all. Twitter will get more attention for sure, but possibly not the kind of attention they want. But apparently there's no such thing as bad publicity. I think of of the interesting things to watch for is if he starts pressuring for the guy who tracks the movements of his private jet to have his account terminated.

cloutchaser 5y ago
Quite a wrecking ball creating Tesla and SpaceX. Lots of destruction there. /s
- camel_Snake 5y ago
  he didn't create Tesla. Maybe you were thinking of the Boring Company?
  - panick21_ 5y ago
    Elon is by far the most import person to Tesla and its not even remotly close. What Tesla is now is basicallt because of Musk. Ok, a few guys had a buissness plan and then used Musk money to totally run the buissness into the ground. Tesla without Musk is just another footnote in the histoy of EV.
- candiddevmike 5y ago
  Just a few cars driving themselves into concrete barricades. Probably some kind of metaphor there.
  - beeboop 5y ago
    Good thing cars that aren't from Tesla never malfunction in lethal ways. If you ignore the 89 deaths from Toyota vehicle acceleration issues, 271 deaths from Ford's faulty tires in the 90s, 303 dead from GM's faulty ignition switches, 478 deaths from Fiat's engines exploding, and 823 deaths from Ford's Bronco tipping over at speeds as slow as 20MPH.

GoodJokes 5y ago

skybrian 5y ago

I'm not sure what you mean by "wrecking ball," but an activist shareholder can win a proxy fight if other shareholders choose to go along with them. And Musk is pretty good at making investments go up by tweeting things, so they are probably pretty happy about this.