Just as we were thinking “What will Elon Musk do next?” there’s news that he may just walk away from his Twitter acquisition. According to Palmer Report, Musk publicly attacked two high-ranking Twitter officials yesterday, which might suggest that the billionaire is trying to walk away from the deal.
As per a Bloomberg report, Musk’s tweets are bounded by Twitter’s non-disparagement agreement, which forbids him to tweet anything against the company or any of its executives. Now, the billionaire seems to violate this clause for recently tweeting against Vijaya Gadde, Twitter’s top lawyer who decided to block a New York Post story on Hunter Biden back in 2020.
While many are claiming it to be the start of Musk’s crusade on promoting free speech on the website, some think that the billionaire is trying to wiggle his way out of the deal altogether.
The 50-year-old recently acquired the micro-blogging site for a staggering $44 billion. As per Irish Times, half of this investment was raised by a $13 billion debt from Wall Street, and a $12.5 billion loan secured against his Tesla stock. The Tesla stock slid more than 12 percent when the Twitter acquisition announcement was made.
There’s also the China angle. Most of the Teslas are made in the Public’s Republic, which blocked the website in 2009. With a flurry of free speech tweets spurring about Hong Kong on Twitter, it is a real possibility that Elon may sour the relationship between him and China.
What’s more interesting is, even if Elon Musk does back out of the deal, he’ll still be required to pay $1 billion, which in hindsight, would not be such a deal for the billionaire. Nonetheless, we’ll keep updating you as the situation develops. Stay tuned!
(Image credits: Twitter)