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Its quick to read because its Axios, but: > Musk's solution was a promise: Were Dorsey to ever need money, Musk would buy back his Twitter shares at the origin
by brucethemoose2 3y ago
Its quick to read because its Axios, but:
> Musk's solution was a promise: Were Dorsey to ever need money, Musk would buy back his Twitter shares at the original takeover price of $54.20 per share. In other words, $44 billion became Dorsey's valuation floor.
- toomuchtodo 3y agoAlso, importantly, Dorsey rolled his 2.4% equity stake into Musk’s deal and new private company to save Musk $1B in immediate capital to close. Dorsey received hundreds of millions of dollars in value out of this deal, but also took on credit risk with Musk (who is not well known for willingly adhering to contractual obligations).