American billionaire, Elon Musk has rejected a $15 billion offer from Sam Bankman-Fried, the founder of FTX Crypto Exchange, who approached him to co-buy Twitter.
Bankman-Fried’s advisor, Will MacAskill, was said to have sent Musk a text to discuss the acquisition of Twitter with the FXT founder. But with the world’s richest man’s rejection, it appears like he preferred to acquire the micro-blogging site alone.
BizWatch Nigeria, however, understands that this development came amid the legal battle between Musk and Twitter.
Between Twitter and Elon Musk
It would be recalled that in April, a Twitter board agreed to sell the company to Musk for $44 billion. The deal, however, suffered a setback when the billionaire alleged that the social media company misled him about the number of spam and bot accounts on the platform.
Arguing that he had been misled, Musk expressed his wish to back out of the deal, saying he was no longer interested in the purchase. Following the world’s richest man’s wish expression, Twitter dragged him to court to seek a continuance of the purchase.
Meanwhile, some court records have released the private conversations between Musk and Jack Dorsey, a Twitter co-founder and former Chief Executive Officer (CEO).
In his initial text to Musk about Twitter, Dorsey said “A new platform is needed. It can’t be a company. That’s why I left.”
Musk quickly responded, according to the text log, asking “What should it look like?” Dorsey proceeded to explain what he has said publicly, that Twitter should become an “open-sourced protocol” that looks “a bit like what Signal has done,” referencing the encrypted messaging app. Dorsey also said that Twitter “can’t have an advertising model.”