Musk said he was moving on from making fun of Bill Gates, after leaked texts revealed the Microsoft founder shorted him.
After Musk initially shared a vague message on Sunday that led many to think he may be stopping his attempts to buy out the company, the billionaire CEO followed up to clarify the post was in reference to Gates. Musk confirmed on Friday that he turned down a request from Gates to discuss a philanthropic venture because of his massive short position against the company.
—Elon Musk (@elonmusk) April 24, 2022
Musk wrote in a text to Gates that he couldn't take his philanthropy seriously when he had a short position against the company.
The text came after Musk asked if Gates still had a short position against the company.
Gates replied that he hadn't closed it out, but he would like to discuss philanthropy possibilities.
Musk posted a meme on Friday that showed a photo of Gates next to an image of a pregnant man, seemingly mocking his weight.
Several users asked if Musk was backing off from his attempt to purchase the micro-blogging site. The move has caused an uproar in which experts have predicted that Musk may move forward with a hostile takeover of the social platform.
In a regulatory filing on Thursday, Musk said he had secured funding to buy the company from banks and other entities.
The filing was a response to the poison pill defense that was used to block Musk's bid.
If anyentity, person, or group obtained more than 15% of the shares, the rights plan would be activated. Musk has a 9.1% stake in the company.
Musk is in a position to use a traditional hostile takeover approach called a tender offer, in which he can offer shareholders cash for their stock at a higher price than it is valued at. His next move is not known.
Earlier this month, Musk was appointed to the board of directors of the company after announcing his large stake in the company, a position he initially accepted before turning it down. He made a bid to buy the social media company.
All Rights Reserved © 2024
