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Elon Musk: Twitter board, shareholders’ economic interests ‘not aligned’

Randy Mancini 2 Apr 18
FILE - Tesla and SpaceX Chief Executive Officer Elon Musk speaks at the SATELLITE Conference and Exhibition in Washington, Monday, March 9, 2020. Mercurial billionaire Elon Musk now says he wants to buy Twitter outright, taking it private to restore its commitment to what he terms “free speech.” But his offer, which seemed to fall flat with investors on Thursday, April 14, 2022 raises as many questions as it answers. (AP Photo/Susan Walsh, File)

FILE – Tesla and SpaceX Chief Executive Officer Elon Musk speaks at the SATELLITE Conference and Exhibition in Washington, Monday, March 9, 2020. Mercurial billionaire Elon Musk now says he wants to buy Twitter outright, taking it private to restore its commitment to what he terms “free speech.” (AP Photo/Susan Walsh, File)

Tesla CEO Elon Musk says the economic interests of Twitter’s board of directors and shareholders are out-of-line. In a series of tweets, Musk suggested his fight with Twitter executives may be a ploy to ward off a larger clash with Musk and another potential bidder.

Wow, with Jack departing, the Twitter board collectively owns almost no shares! Objectively, their economic interests are simply not aligned with shareholders.

— Elon Musk (@elonmusk) April 16, 2022

This was in response to a tweet stressing Musk would be fighting with a gang of highly educated board members over who gets to own the company. He pointed out that all board members, excluding the company’s departing founder Jack Dorsey, own less than 1 percent of Twitter.

This comes as the media has long sought to deter Musk from buying the social media giant. One America’s Daniel Baldwin has more.

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