Elon Musk's most recent purchase of Twitter may well hinder his ability to Tweet positively about the social media site. According to an SEC filing dated Apr. 25, a provision within the $44 billion buyout agreement disallows the Tesla CEO from utilizing the social media site with any negative connotation toward Twitter.
While Musk himself is not directly mentioned, only as an "equity investor," the documentation specifically states that he "shall be permitted to issue Tweets about the Merger or the transactions contemplated hereby so long as such Tweets do not disparage the Company or any of its representatives."
Musk has been quite critical about the leadership of Twitter, making remarks on the social media site as the board itself took action with a so-called poison pill. While the board inevitably conceded its efforts and accepted Musk's initial offer at $54.20 a share, they clearly don't want any more additional weight being pressured on current staff as the transition period is underway.
Various Twitter employees have relayed mixed opinions about Musk's buyout. On one side, mostly led by internal cryptocurrency enthusiasts, optimism is widely felt, while on the other, more confusion and fear ring loud as employees try to grip the uncertainty of where their careers might be headed. These emotions are best summed up by Twitter's Ned Miles, who said, "Can someone just tell me if I'm rich or fired please."
Can someone just tell me if I’m rich or fired please
— Ned Miles (@nedmiles) April 25, 2022
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On other fronts, Musk has been targeting Bill Gates for his shorting of Tesla stock. Musk has been actively reprimanded for his utilization of the social media platform in somewhat hurtful and negative ways, most supremely witnessed in his SEC fraud charges following his various Tweets denoting that he would take Tesla private, thus spurring a natural rise in stock price.
For the Tesla executive, it's all about freedom of speech, as Musk has championed since first gaining a majority share of the company. His public statements have largely been well-endowed in his mind as he wants to rectify the wrongs within the social media site, going so far as to consider turning Twitter headquarters into a homeless shelter because "no one shows up anyway."
More recently, Musk took aim at Twitter's own internal lawyer, Vijaya Gadde, due to his removal of Donald Trump and news organizations from the website. Gadde purportedly had a hand in censoring a story by The Post that discussed evidence surrounding Hunter Biden's laptop amid the 2020 election. Following Musk's buyout, Gaade wasn't very pleased and expressed these concerns with staff, which was publicized on Twitter. Given his persistent stance on free speech and distaste for censorship in any form, Musk had to clap back.
— Saagar Enjeti (@esaagar) April 26, 2022
The Twitter clause within the buyout agreement was enacted following some weighty negotiations with the board. Per the SEC filing, both Twitter and Musk are required to pay a $1 billion fee for any potential failure to meet specific term agreements, such as Musk's finances falling short before the completion of the deal, or if Twitter were to accept another offer.
It, however, does not impede Musk's ability to be hypercritical with current or former Twitter staff, and the executive seemingly hasn't been slowed in the least bit in highlighting his own personal feelings.
