107.9FM NYJ/LA

Translate This Page

If Elon Musk acquires Twitter, he will pay all board members $0 salaries.

Posted by Aadrika Sharma on Monday, April 25, 2022 Under: #WATCHLiST



Key Takeaways:

  • Musk stated he would simply dismiss all board members, reducing collective salaries to “$0 if my bid succeeds, therefore that’s $3M/year saved right there.”
  • Musk’s sudden $43 billion takeover proposal, which came just a week after he filed documents with the Securities and Exchange Commission claiming to be a passive investor in the microblogging website, was followed by Twitter’s decision to use a “poison pill” defence.


  • Existing shareholders will be able to buy more Twitter stock at a discount if a single investor, or a group of investors, gains control of 15% of the firm without board consent.
  • Musk kicked off the bidding war with his original offer to shareholders: $43 billion, or $54.20 per share.

Elon Musk, the billionaire, declared Monday that if his continuing bid to buy Twitter wins, the board of directors’ salary will be chopped to zero.

Musk’s relationship with Twitter, which he described as a “war zone” throughout a 60 Minutes interview in 2018, is problematic because he is both a frequent user of the platform  and a loud critic.

Last week, Musk offered $54.20 to buy Twitter and take it private, but Twitter’s board of directors is fighting the deal. Board registered members earn between $200,000 and $300,000 per year, equal to over $3 million in annual costs for the corporation.

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

 Congressman Darrell Issa says he is with Elon!

Regardless of how serious the situation appears to be, the twitter community never fails to make a joke out of it. Take a look at what @talent drop has to say: “Twitter would be so awesome lol!” says @talent drop.

Musk’s sudden $43 billion takeover proposal, which came just a week after he filed documents with the Securities and Exchange Commission pretending to be a savvy investor in the microblogging website, was followed by Twitter’s decision to use a “poison pill” defence. Existing shareholders will be able to buy greater Twitter stock at a discount if a single investor, or a group of investors, gains control of 15% of the firm without board consent.

Other potential purchasers include Thoma Bravo, a buyout firm, and Silver Lake, a private equity firm that assisted Twitter with a convertible bond financing deal in 2020.

The social media firm, according to Musk, has to go private since it can “neither prosper nor serve” free expression in its current position.

“As a result, I’m offering to buy 100% of Twitter in cash for $54.20 per share, a 54 percent premium over the day before I started investing in Twitter and a 38 percent premium over the day before my investment was publicly publicised,” he said. “If my offer is not accepted, I will have to reevaluate my position as a shareholder.”

In the run-up to his takeover bid, Musk chastised Twitter for its lack of dedication to free expression. In early April, he purchased a 9.2 percent share in the company.

“Because Twitter is the de facto public town square, failure to adhere to free speech norms fundamentally damages democracy,” Musk tweeted on March 26. “How should we proceed?”

He later tweeted, “Is a new platform required?”

Many of Musk’s roughly 80 million Twitter followers urged him to acquire Twitter outright or develop his own platform at the time.

Christina Pushaw, the press secretary for Republican Florida Governor Ron DeSantis, tweeted, “Buy this one!”

What’s up with both sides making detailed pot jokes?

On The Joe Rogan Experience podcast, billionaire Elon Musk is being shown smoking marijuana. YouTube/Joe Rogan Experience Last week, Elon Musk offered to buy Twitter completely, but the company’s board of directors declined. Musk’s offer included a cannabis reference: Twitter stockholders would receive $54.20 per share.

This does not seem to be  a statistical coincidence; many feel it’s a deliberate dig by Musk meant to allude to the decades-old cannabis culture catchphrase “420.”

The 20th of April is an undercover holiday for cannabis users. For marijuana smokers, April 20th, or 4/20, is an important day.

For smokers, 4:20 p.m. is regarded as the best time to fire up, and places where one can smoke marijuana are sometimes designated “420 friendly.”

The term “act of smoking marijuana” was even introduced to the Oxford English Dictionary to describe it. The phrase “420” has become a type of juvenile meme on the internet, and making crazy 420 remarks has become somewhat of a silly meme.

In : #WATCHLiST 


Tags: if elon musk acquires twitter  he will pay all board members $0 salaries. 

Panerai Luminor "Blackseal" PAM76 Titanium Black & Silver dial 44mm Automatic wa

PANERAI WATCH
LUMINOR / Ref. PAM76
44mm, Titanium
W525050
Panerai Luminor "Blackseal" PAM76 Titanium Black & Silver dial 44mm Automatic watch
TRY IT ON
G&S Price: $22,000

SALE PRICE

$16,900 


    HOT 103.1 FM HOUSTON

    Fashion director finds. Everything our fashion office is obsessed with right now.

    Shop Janelles's finds


     
     
    E*TRADE from Morgan Stanley 
    View in browser   |   Log on
     
     
     
    Make the most of your cash in 2025
     
    Boost your earning power with a high-yield savings and bank certificate of deposit (CD) account.
    BANKING
     
    You’re already building your portfolio with E*TRADE from Morgan Stanley. Now, unlock more of your financial potential and open a high-yield bank account from Morgan Stanley Private Bank, Member FDIC, on etrade.com.
    Bank smarter with some of today’s best rates
    Bank CD accounts
    Bank CD accounts
     
    Plus, even more reasons to bank with us
    Award Icon
    Award-winning banking*
    Our accolades speak for themselves
     
     
    Check Icon
    Easy money management
    With E*TRADE from Morgan Stanley’s best-in-class digital experience6
     
     
     
    Lock Icon
    FDIC
    protected

    Up to applicable limits. Certain conditions must be satisfied.7
     
     
     
    Learn how to manage cash strategically
    Not sure which account is right for you? Learn how to use cash as an asset class to balance your short-tern needs with your long-term goals. Read article
     
     
    Facebook twitter Youtube
    Privacy Pledge  |  Security Center  |  FAQs
     
     
     
     
    *February 3, 2025. Buy Side from Wall Street Journal. Reprinted with permission by Dow Jones & Company, Inc.

    1. As of 2/21/2025, the Annual Percentage Yield (APY) of the Premium Savings Account offered by Morgan Stanley Private Bank, National Association is 4.00%. Your interest rate and APY may change at any time and fees may reduce earnings. Please visit etrade.com/ratesheet for information regarding this account's current interest rate and corresponding APY.

    2. Based on comparison to the National Deposits Savings Average Annual Percentage Yield (APY) as published on the FDIC Weekly National Rates and Rate Caps Weekly Update, as of January 21, 2025.

    3. Certificate of Deposit (CD) interest rates are fixed from the start of the term until their maturity date.

    CD offerings can change on a daily basis. The interest rate on the Settlement Date can be higher or lower than the interest rate that was available at the time of account opening. If your Settlement Date is within 10 calendar days of the account opening, the applied interest rate will be the highest of the prevailing interest rate on the date of account opening or the date of Settlement. Maturity is determined based on the Settlement Date and the term selected. The APY is based on no withdrawal of credited interest and no redemption prior to the stated maturity date. A withdrawal will reduce earnings. See the CD Rate Table page at etrade.com for information on term lengths, current interest rates and corresponding APYs.

    Interest is compounded daily. Interest will compound from the Settlement Date until the last full day before the date of withdrawal using the daily balance method. Accrued interest posts to your account on a quarterly basis, unless you select at account opening to receive interest via check.

    4. As of 2/21/2025, the Annual Percentage Yield (APY) of the Certificates of Deposit is up to 4.25%. Your interest rate and APY may change at any time until funding is settled, and penalties may reduce earnings. The APY is based on no withdrawal of credited interest and no redemption prior to the stated maturity date. Please visit etrade.com/ratesheet for information regarding the current interest rate, corresponding APY, and account terms.

    5. Bank CD accounts must be opened and funded to lock in a fixed rate.

    6. For the StockBrokers.com 2024 Annual Awards, all 17 U.S. equity brokers reviewed were assessed on over 200 different variables across eight areas: Commissions & Fees, Investment Options, Platforms & Tools, Research, Mobile Trading, Education, Ease of Use, and Overall. E*TRADE from Morgan Stanley was awarded the #1 Investor App, and #1 Web Trading Platform. In addition, E*TRADE received fifteen Best in Class distinctions: Overall Rating, Commissions & Fees, Research, Platforms & Tools, Investment Options, Mobile Trading Apps, Education, Bank Brokerage, Beginners, Futures Trading, IRA Accounts, Options Trading, Penny Stock Trading, High net Worth Investors, and Ease of Use. E*TRADE's star ratings for all category rankings out of 5: Overall (5.0 stars), Customer Service (4.0 stars), Commissions & Fees (4.5 stars), Research (5.0 stars), Platforms & Tools (4.5 stars), Mobile Trading Apps (5.0 stars), Investment Options (4.5 stars), Education (5.0 stars), Ease of Use (5.0 stars), Customer Service (4.0). Read the 2024 Online Broker Review.

    7. The Premium Savings Account gives Morgan Stanley Private Bank, National Association, Member FDIC the ability to send any amount held on deposit in your Premium Savings Account to other depository accounts at Federal Deposit Insurance Corporation (“FDIC”) member banks with the purpose of affording you additional FDIC insurance coverage. The Program is designed to offer up to $500,000 in FDIC coverage to individual accounts (up to $1 million for joint accounts). Certain conditions must be met. Learn more.

    Deposits held in Certificate of Deposit accounts are FDIC insured up to $250,000. Learn more.

    No minimum initial deposit is required to open a Premium Savings Account and Certificate of Deposit Account. However, account must be funded within 30 days to remain open.

    This is a promotional email from Morgan Stanley Private Bank, National Association. Click here to unsubscribe.

    Morgan Stanley Private Bank, P.O. Box 484, Jersey City, NJ 07303-0484

    Please see our Privacy Pledge for details about how Morgan Stanley handles personal information.

    Banking products and services are provided by Morgan Stanley Private Bank, National Association, Member FDIC.

    © 2025 E*TRADE from Morgan Stanley. All rights reserved. E*TRADE Copyright Policy







    Invest, spend, and earn 2.05% APY*–all through your brokerage account.
    Our goal at Robinhood is to democratize finance. This means delivering products that help you do more with your money and improve your life. Today, we're excited to introduce Cash Management, a new feature to give you more flexibility with your brokerage account.
    JOIN THE WAITLIST
    Flexible Spending
    Use your Robinhood debit card anywhere Mastercard® is accepted around the world.
     
    Earn 2.05% APY
    Your uninvested cash is moved to banks in our program that pay you 2.05% APY*. Like all variable rates, this could go up or down over time.
     
    FDIC Insurance
    Your cash in the program banks is eligible for up to $1.25 million of FDIC insurance, or up to $250,000 per bank, subject to FDIC rules.
     
    75,000+ ATMs
    Don't pay fees at any of the 75,000+ ATMs in our network.
    JOIN THE WAITLIST


    See the source image



    For the next two weeks, you can earn increasing levels of Stock-Back™ rewards when you shift your everyday spending to your Stash debit card.* 

    Every qualifying swipe over $5 gets you closer to leveling up your Stock-Back rewards. Levels start tomorrow and reset to zero on Monday, November 18.

    Follow Us

     

    Flag Counter


    Flag Counter

    Make a free website with Yola