Bitcoin Proponent Elon Musk Says There Is A “Plan B” If His Twitter Bid Is Rejected.
Elon Musk, the CEO and founder of American electric car company Tesla, said at a TED event in Vancouver that he has a plan B if his offer to acquire 100% of Twitter is rejected.
Here's @elonmusk describing that he has a plan B if Twitter rejects his buyout offer. pic.twitter.com/WygtITru8j
— Dave Lee (@heydave7) April 14, 2022
The billionaire cryptocurrency investor, who failed to give any details about its upcoming plan should his offer be rejected, seems to have made adequate preparations should he receive a negative response from the Twitter board.
Musk’s Twitter Bid
Yesterday, Musk announced that he has made a bid of $41.39 billion to acquire 100% stake of the popular microblogging platform, offering $54.20 per share.
Musk, who is also a shareholder in the social media company, noted that Twitter will not be able to achieve its societal goals of promoting free speech under current circumstances, and as such he is opting to change the situation.
He stated that if his bid of $41.39 billion is accepted, he would take the company private to allow freedom of speech.
While Musk considers his proposal his best and last offer, he concluded that if it is rejected, he would be forced to reconsider his investment in the company.
What is Musk’s Plan B Option?
Aside from his last statement that it seemed like the billionaire investor may dump his over 9% stake of the company’s shares in the market, Musk seems to have more plans up his sleeves as disclosed in a recent interview.
“There is [a Plan B],” Musk said. When asked to shed more light about his “Plan B,” Musk noted that he would do so some other time.
Possible Route Musk Could Take
It is worth noting that Musk hinted earlier this month that he would be developing a decentralized social media platform that would support freedom of speech.
The Tesla owner also hinted at the possibility of a new platform supporting popular memecoin Dogecoin (DOGE), which users can use to tip content creators.
With Musk already considering developing a decentralized social media platform, Charles Hoskinson, the CEO and co-founder of Input Output Global (IOG), requested that they both join forces to create the platform if the Tesla boss’ Twitter bid is rejected.
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