Hostile Twitter takeover rumours grow as Elon Musk boasts he can grow stake ‘at any time’
The richest man in the world, Elon Musk, has fuelled rumours he will attempt a hostile takeover of Twitter, after saying he can boost his stake in the site “at any time”.
The billionaire entrepreneur who runs Tesla and Space X became the social media giant’s main shareholder last week, but rejected an invitation to join its board
According to the Times, Musk walked away from a “standstill” agreement to stop a takeover bid, saying he has “no present plans” to buy more of the company, but still “reserves the right to change his plans at any time, as he deems appropriate”.
Musk, who is worth at least £200bn, now has a 9.2 per cent stake in Twitter after purchasing 73 million shares for over $2.6 billion.
After becoming its biggest stakeholder, Musk asked his 80 million users if they wanted an ‘edit’ button through a poll.