As Twitter’s board endorses his $44 billion bid, the billionaire Tesla chief says there are “a few unresolved matters” holding up the works.
to lay off a chunk of Tesla’s staff due to his “super-bad feeling” about the economy, saying that the car manufacturer will cut about 10% of its “salaried workforce, which is actually just really only a 3%, 3.5% reduction in total headcount and not super material.”
Meanwhile, he continued to justify pausing the Twitter deal by claiming that the board has not been forthcoming about the number of spam accounts on the platform. “You’ve probably read about the question as to whether the number of fake and spam users on the system is less than 5% as Twitter claims, which I think is probably not most people’s experience when using Twitter,” he said. “So we’re still awaiting resolution on that matter, and that is a very significant matter.
Rounding out the three issues that “need to be resolved” before the Twitter buyout can be completed is the question of whether the debt financing for the deal will “come together,” Musk said at the forum. He also outlined his grandiose vision for the site, expressing hope that “80% of North America and perhaps half the world” will eventually join Twitter.
. “That means it must be something that is appealing to people. It obviously cannot be a place where they feel uncomfortable or harassed, or they’ll simply not use it.”with Twitter employees. Still, the company is currently trading at $38.63, a far cry from Musk’s $54.20-per-share offer price and a sign of continued market skepticism toward the deal’s viability.