Tuesday, May 24, 2022

Elon Musk banned from Twitter for violating terms of $44B buyout…

NEW YORK POST – Elon Musk’s $44 billion Twitter buyout agreement includes a bizarre clause banning him from tweeting criticism about the company – though the billionaire already appears to be testing the rule’s limits.

An SEC filing published this week detailing the agreement notes Musk – identified in the document as “equity investor” – “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.”

Current Twitter employees have expressed concern about Musk’s brash communication style on the platform, which he regularly uses to relay key information about his other firms, such as Tesla and SpaceX, and to poke fun at rivals such as Bill Gates and Bernie Sanders.

Musk publicly stated his belief that Twitter’s outgoing leadership wasn’t equipped to bring the company to his full potential, while the board initially enacted a “poison pill” provision to limit his leverage during buyout talks.

On Tuesday evening, Musk tweeted that top Twitter lawyer Vijaya Gadde’s decision to ban The Post’s story about Hunter Biden’s laptop ahead of the 2020 presidential election was “obviously incredibly inappropriate.”

Source: New York Post