Elon Musk – I’m Not Sure I’ll Buy Twitter, I Have A Plan B – Details.
Elon Musk, the billionaire CEO of Tesla, admitted Thursday at the TED2022 conference in Vancouver that he is “not sure” he will be able to buy Twitter. The remarks came just hours after a regulatory filing revealed that he had offered to buy the company for $54.20 per share, or approximately $43 billion.
Twitter confirmed receiving the bid, but the offer, which values shares much lower than the $70 they reached last summer, must still be reviewed by the company’s board of directors. Musk, on the other hand, had stated that the offer would be his “best and final.”
When asked by TED’s Chris Anderson if he had a “Plan B” if his current offer was rejected, Musk replied, “There is.”
He refused to go into detail.
Despite his vast wealth, many of Musk’s assets are not liquid, prompting some analysts to question how he would provide the funds if his bid was accepted. According to Wells Fargo analysts, Musk may have to sell Tesla stock to fund the takeover.
Anderson inquired if Musk had “funding secured,” referring to Musk’s infamous tweet in which he stated his intention to take Tesla private, which landed him in hot water with the Securities and Exchange Commission.
“I have sufficient assets,” Musk said. “I can do it if possible.”