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Published 11:32 29 Apr 2022 GMT
Jim Schwertner from Texas is offering Elon Musk free land for Twitter's headquarters if the billionaire chooses to relocate his newly purchased company to the Lone Star State.
The Texas man is president and CEO of Schwertner Farms Inc. which has more than 20,000 acres in Williamson and Bell Counties. He made his offer to Musk on Twitter on Tuesday.
Schwertner wrote: "Elon Musk, Move Twitter to Schwertner, TX. 38 Miles North of Austin in Williamson County, and we will give you 100 Acres for FREE."
As per The Epoch Times, Schwertner oversees farming and ranching on 20,000 acres of land just north of Georgetown. He said that the move would be a "win-win for everybody" and would boost the economy by bringing in jobs.
After gaining interactions from users online and local outlets, Schwertner spoke to Fox Business about the seriousness of his prospect. "I am very serious about the offer," Schwertner said, reporting that the land he is offering to Musk is worth millions of dollars.
Schwertner continued: "We think it’s a good idea, especially when you’ve got Samsung coming to Taylor," noting that the area of land is "exploding" and that Austin citizens also want to be part of "this explosive growth."
The Texas man added that the area is a "perfect location" for the billionaire because he already has three companies - Tesla, SpaceX, and the Boring company - all operating in Texas. Therefore, in comparison to Twitter's current headquarters in California, Texas is "growing fast" and the location offers "affordable housing and places to live".
Musk reached an agreement to buy Twitter on Monday for roughly $44 billion. In a tweet, he shared his plans for the platform now that he is taking the reins. He vowed that now that it is privately owned, he will be able to introduce new features and permit free speech.
The 50-year-old tweeted: "Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated". He also added that he wants to get rid of "automated spam accounts" and restructure the algorithm so it is open to the public's trust.
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world2 min(s) read
Published 11:44 14 Apr 2022 GMT
celebrity3 min(s) read
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Published 16:23 04 Apr 2022 GMT
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Published 16:26 10 May 2020 GMT
Elon Musk has reportedly offered to buy Twitter for an eye-watering $41 billion.
As reported by Reuters, the Tesla founder - who last month purchased a 9.2% stake in the social media company (TWTR.N) for $2.89 billion (£2.20bn) - has now offered to purchase Twitter for $41 billion in cash, saying in a letter to Twitter Chairman Bret Taylor:
"Since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company."
The billionaire's offer reflects a $54.20 per share price - which was disclosed in a regulatory SEC filing on Thursday (April 14) - and represents a 38% premium to the closing price of Twitter's stock April 1 close.
Referring to his near 10% investment last month, the Tesla CEO added in his letter to Taylor: "I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy."
Per Refinitiv data, the total deal value was calculated based on 763.58 million outstanding shares.
The news also comes after Twitter CEO Parag Agrawal revealed in a note to his employees that Musk had turned down the opportunity to join Twitter's board of directors.
"Elon’s appointment to the board was to become officially effective 4/9 but Elon shared that same morning that he will no longer be joining the board," Agrawal wrote earlier this month, adding: "I believe this is for the best."
Reuters reports that analysts believed Musk's decision not to join the board was based on the fact his board seat would have limited any potential stake to just shy of 15%.
As part of his offer, Musk has said he is not willing to barter and is "not playing the back-and-forth game".
"I am offering to buy 100% of Twitter for $54.20 per share in cash, a 54% premium over the day before I began investing in Twitter and a 38% premium over the day before my investment was publicly announced. My offer is my best and final offer and if it’s not accepted, I would need to reconsider my position as a shareholder," Musk wrote in his letter to the company.
"Twitter has extraordinary potential. I will unlock it," he added.
Published 15:30 15 Apr 2022 GMT
Mark Cuban has revealed his theory as to why Elon Musk has offered to purchase Twitter for a staggering $41 billion.
Yesterday, Reuters reported that the Tesla founder - who last month purchased a 9.2% stake in the social media company (TWTR.N) for $2.89 billion (£2.20bn) - had submitted an offer for the globally popular social media site, offering $41 billion in cash.
The billionaire's offer reflects a $54.20 per share price - which was disclosed in a regulatory US SEC (Securities and Exchange Commission) filing on Thursday (April 14) - and represents a 38% premium to the closing price of Twitter's stock April 1 close.
In a letter to Twitter Chairman Bret Taylor, Musk said:
"Since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company."
Referring to his near 10% investment last month, the Tesla CEO added in his letter to Taylor: "I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy."
"Twitter has extraordinary potential. I will unlock it," Musk added.
Now, 63-year-old fellow billionaire Mark Cuban has shared his thoughts on Musk's proposition, and his thoughts on the eye-watering offer.
On Thursday, the Shark Tank star tweeted: "My conclusion, @elonmusk is f***ing with the SEC. His filing w/the SEC allows him to say he wants to take a company private for $54.20 Vs his 'Am considering taking Tesla private at $420. Funding secured'.
"Price go up. His shares get sold. Profit [up]. SEC like WTF just happened."
Per the New York Post, Cuban was referring to a 2018 tweet made by Musk, in which, the SpaceX founder declared that he had 'funding secured' to take Tesla private at $420 per share.
The tweet led to the SEC accusing Musk of making "false and misleading" statements about the company's finances.
At the time, Steven Peikin, co-director of enforcement at the SEC, said: "We allege that Musk had arrived at the price of $420 by assuming a 20 percent premium of what Tesla’s then existing share price [was], and then rounding up to $420 because of the significance of that number in marijuana culture, and his belief that his girlfriend would be amused by it."
Cuban added in subsequent tweets that as a result of Musk's offer, "every major tech company" - including Google and Facebook - were "on the phone with their anti trust lawyers asking if they can buy Twitter and get it approved. And Twitter is on the phone with their lawyers asking which can be their white knight."
But Cuban did say that he believes Twitter will "do everything possible not to sell the company".
"They will try to get a friendly to come in and buy Elon's shares and get him out," he tweeted.
Elon Musk's latest business venture has been revealed, as a US securities filing has revealed that the billionaire has snapped up a 9.2% stake in Twitter.
As reported by BBC News, the Tesla founder bought 73,486,938 shares in the social media company back on March 14, according to the Securities and Exchange Commission. Per Twitter's closing price on Friday, Musk's stake in the company is worth an eye-watering $2.89 billion (£2.20bn)
The stake means that Musk is now one of the largest shareholders in the company. Even Twitter founder Jack Dorsey has a holding of just 2.25% - more than four times less than the SpaceX founder. Dorsey stepped down in November 2021 as the company's CEO, being replaced by Parag Agrawal.
In an incredible chain reaction, news of Musk's purchase also sent Twitter shares soaring about 25% in pre-market trading, BBC News adds.
Musk is currently the sixth most-followed person on Twitter, with 80.2 million followers. Barack Obama sits at the top with 131 million followers, followed by Justin Bieber, Katy Perry, Rihanna, Cristiano Ronaldo, Taylor Swift, and Lady Gaga. (Both Ariana Grande and Donald Trump were above Musk prior to their accounts being deactivated.)
The purchase also potentially shines some light on a series of tweets the billionaire made last month regarding the social media platform.
On March 26, Musk asked his followers: "Free speech is essential to a functioning democracy. Do you believe Twitter rigorously adheres to this principle?"
Musk added in a follow-up tweet: "The consequences of this poll will be important. Please vote carefully."
He also asked his followers: "Is a new platform needed?"
Musk is a frequent user of Twitter, often sharing business updates with his followers, as well as sharing memes and opinions.
At times, it has proven useful, such as when he entered a conversation with Ukraine's Vice Prime Minister and Minister of Digital Transformation, Mykhailo Fedorov.
Their exchange led to Musk activating his Starlink service in Ukraine and the billionaire sending a truck of terminals to the country amid Russia's invasion.
At other times, the social media site has caused Musk a bit of bother, such as the time earlier this year when he reportedly had to offer a teenager $5,000 to remove an account that tracked the billionaire's private jet.
Published 11:27 15 Jun 2021 GMT
Just one year after Elon Musk vowed to rid himself of all possessions, the Tesla CEO is putting his last home on the market.
The SpaceX CEO previously expressed the desire to "own no home" and it seems as though he's putting that goal into fruition as he gears up to part ways with his mansion.
The California Bay Area mansion, which was listed for sale on Sunday for $37.5 million, was used chiefly as a rental space for events, according to Musk.
The billionaire said he would like to sell it to a large family who will live there.
"Decided to sell my last remaining house," he tweeted on June 14. "Just needs to go to a large family who will live there. It’s a special place."
He currently lives in a home he rents for $50,000 in Boca Chica, Texas, near his Space Exploration Technologies Corp. Starbase rocket manufacturing plant, where he moved last year.
Musk had gone on a spree the past 13 months, selling six of his properties, as well as one in 2019, for a total of $114 million. He tweeted last May: "I am selling almost all physical possessions. Will own no house."
He said he was doing it as a way to defuse criticism of his wealth, telling podcast host Joe Rogan last May: "I think possessions kinda weigh you down. And they're kind of an attack vector. People say, 'Hey, billionaire, you got all this stuff.' Well, now I don’t have the stuff — now what are you gonna do?"
The announcement comes after a ProPublica report last week that revealed he had paid little, and in some cases, no federal income taxes in recent years.
Musk said on Wednesday that despite divesting himself of his properties in the state, he would, "continue to pay income taxes in California proportionate to my time in-state, which is & will be significant."
Musk started his sell-off in June 2020, with a 20,200-square-foot mansion in Los Angeles' Bel Air area that sold for $29 million.
A San Diego-based assemblywoman has caused a stir online after lambasting prominent entrepreneur Elon Musk in the aftermath of his decision to relocate his company Tesla from the Golden State.
In an unequivocal tweet, 48-year-old former Labor Leader Lorena Gonzalez wrote “F**k Elon Musk” - provoking a fiery debate among both her supporters and sympathizers with the billionaire businessman.
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The dispute comes after Musk announced that he felt forced to relocate his company after local California officials refused to grant a dispensation to reopen his car plant amidst the backdrop of the coronavirus pandemic. As he explained it in a tweet:
“Frankly, this is the final straw. Tesla will now move its HQ and future programs to Texas/Nevada immediately. If we even retain Fremont manufacturing activity at all, it will be dependent on how Tesla is treated in the future.”
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Watch As The Tesla Cybertruck Launch Ends In Disaster As It Smashes Its Bulletproof Glass:
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A few of Gonzalez’s followers were supportive of her decision to publicly criticize Musk in such an uncompromising manner, with one Twitterer writing, “This is why I love you!!!!” in reply. The tweet itself has generated over 13,000 likes, suggesting that Gonzalez is not alone in her opinion.
However, it’s fair to say that, on Twitter at least, most of the reaction was extremely critical of Gonzalez. Several described her behavior as “classless”, suggesting that swearing at Musk may not be the best way to effect a positive outcome.
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Many others suggested that the politician should be doing more to persuade Musk to stay, as Tesla is a major player in the California job market. As one respondent put it, “That's a great way to get him to stay. Glad to see you are looking out for Californians!”
Another added, “@Tesla employ over 37,000 Californians. What you're actually saying [is] 'F**k 37,000 people and their families.'"
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