An estimated $4 to $20 billion in value, what is he thinking?

  • Kerrigor@kbin.social
    link
    fedilink
    arrow-up
    15
    ·
    1 year ago

    What I don’t understand is how he can still be in charge, at all? Do shareholders not have any legal mechanism to get him removed?

      • Kerrigor@kbin.social
        link
        fedilink
        arrow-up
        22
        ·
        1 year ago

        Oh shit, I thought he just bought a majority stake in it. Sucks that he’s able to disrupt so many employees’ lives in the process of his tantrums & acid trip ideas.

      • evanuggetpi@lemmy.nz
        link
        fedilink
        arrow-up
        6
        ·
        1 year ago

        The second largest investors in Elon’s Twitter are the Saudis. They might not take kindly to such antics.

        • beefcat@beehaw.org
          link
          fedilink
          arrow-up
          37
          ·
          1 year ago

          The Saudi Arabians have hated Twitter for over a decade now thanks to the role it played in the Arab Spring movement. I wouldn’t be surprised if they helped Elon buy it just to kill it.

          • evanuggetpi@lemmy.nz
            link
            fedilink
            arrow-up
            16
            ·
            1 year ago

            Yes, that does make a lot of sense. A few billion to take down Twitter is a great investment for them.

    • SatanicNotMessianic
      link
      fedilink
      arrow-up
      18
      ·
      1 year ago

      He’s the largest shareholder and it’s a private company, which is why we depend on companies holding his debt for guesstimates about the valuation. There’s no market forces that are punishing him for bad decisions, other than him not being able to service his/twitter’s debt based on twitter’s dwindling income.

      Jack Dorsey and his Saudi partners agreed to hold onto their shares (ie, not force Musk to buy them) and together they held about $3.5B out of the $44B valuation when it went private. Dorsey just started offering some super gentle criticism while saying it’s a very hard job.

      I don’t know if they’re under NDAs, or if they’re afraid of crashing their investments further by criticizing him in public, or if they just don’t care because what’s a few billion between friends. Maybe they’re sending him angry texts.

      I’m just hoping that someone comes out with a tell-all that ends up being a movie called The Anti-Social Network.