According to the National Broadcasting Corporation Finance Channel (CNBC) reported on the 18th, local time on Monday, billionaire and The largest shareholder of Twitter Elon Musk said that if he lets him acquire Twitter, then the company's directors will not get paid. Musk tweeted: "If my bid is successful, the board's salary will be $0, so $3 million can be saved a year." ”
Screenshot of CNBC report
It's unclear who will be appointed to the board of directors of Twitter after Musk's acquisition. According to filings with the U.S. Securities and Exchange Commission (SEC), Twitter currently gives board members about $2.9 million in cash and stock awards each year.
Image source: Visual China
Musk has been campaigning to buy Twitter. After amassing more than 9 percent of the stock, Musk offered to buy the company for $43 billion. In response, Twitter adopted a fixed-term shareholder rights plan, also known as the "poison pill plan," to fend off potentially hostile takeovers. Musk may also be considering making a takeover offer to Twitter shareholders to gain control of the company.
Musk believes Twitter needs to "transform" into a private company so that it can become a social platform for "free speech." He also said the interests of Twitter's board members were "not at all aligned with shareholders" and that the board "barely owns" a stake in the company.
(Editor: GH)