Billionaire entrepreneur Elon Musk on Sunday threw some uncertainty into his plans for a takeover of social media platform Twitter by posting a message that mentioned he was “moving on”.
Musk is famed for his enigmatic messages on Twitter, which he typically makes use of to assault individuals, publish insults or just make jokes. The precise which means of the most recent cryptic message was unclear, because it merely mentioned: “Moving on …”.
But the publish was made after a dramatic week the place Musk, the richest man on the earth, secured $46.5bn in financing to fund a doable hostile bid for Twitter, together with $21bn of his personal cash.
The funding commitments had been outlined in a submitting final week with the Securities and Exchange Commission. Musk already owns 9.2% of the social media platform and introduced a $54.20-per-share bid final week.
Musk’s provide is considered as a hostile bid as a result of it bypasses the corporate’s board. Twitter has additionally launched a so-called poison tablet protection, geared toward blocking Musk from constructing a stake larger than 15%.
Musk has referred to as himself a “free speech absolutist” and has made clear he believes Twitter will not be giving sufficient freedom to its hundreds of thousands of customers. In a letter to the Twitter board he mentioned that the platform “needs to be transformed as a private company”. He has flagged adjustments he may carry to the corporate, together with introducing an edit button for tweets.