Elon Musk hinted at a potentially hostile bid for social media company Twitter Inc (NYSE:TWTR) after making a US$43bn bid for the company last week.
The South African-American tycoon responded to Twitter’s “poison pill” with a variety of unfriendly posts.
On Thursday the world’s richest man asked his 80mln followers whether Twitter’s board or shareholders should decide the future of the company.
Taking Twitter private at $54.20 should be up to shareholders, not the board
— Elon Musk (@elonmusk) April 14, 2022
Tesla’s chief executive then made apparent, in response to criticism of the board, that its members would not be paid a penny should he prevail.
"Board salary will be US$0 if my bid succeeds, so that's ~$3M/year saved right there," Musk said.
As the chaos continued Saturday, Musk tweeted “Love Me Tender,” an Elvis Presley song, in response to Twitter’s plan to offload shares at a discount to stop any attempt by shareholders to accumulate a stake of over 15%. Musk owns 9.1%.
The multi-billionaire did not elaborate further on any of the recent tweets made.
Meanwhile, Twitter's former chief executive and co-founder Jack Dorsey criticised his fellow board members claiming “it’s consistently been the dysfunction of the company.”
Shares have gained 23% to US$48.45 since Musk disclosed his purchased stake on 4 April. Although this is still 10% below his US$54.20 per share offer.