Elon Musk returns to play the charge for Twitter: Tesla and SpaceX CEO revived the $ 44 billion deal, surprising everyone (including employees of the social network). With an ongoing process yet to be decided, it appears the tycoon has rediscovered his interest in Twitter. In a week full of controversy on social media for Musk.
Elon Musk returns to Twitter: how employees (and markets) react
The news comes from Bloomberg, who discovered a letter sent by Musk to restart negotiations for the acquisition of Twitter. A surprise, no doubt. Musk and Twitter are definitely at loggerheads, with a trial already underway and the tycoon who has repeatedly shot (if not insulting) Twitter, often using the same social network.
Ma changing his mind is nothing new for Musk. Within months, the South African entrepreneur acquired shares of Twitter to join the board, then said he would never join, then announced a multibillion-dollar acquisition, which he paused a few weeks later. In short: whoever wants to predict Musk’s decisions will be wrong, whatever he preaches.
A complicated period in the Musk house
While Musk is always unpredictable, this week could have a particular bearing on the billionaire. Several shots to the image of him in the last few days. Starting with the poll he launched with a peace proposal for Ukraine, that 60% of his followers failed, which Zelensky called “pro-Russian”. With the Ukrainian ambassador to Germany he even ended up send Musk to … that country.
A few days earlier, a series of messages between Musk and some other investors regarding the Twitter acquisition leaked online. A damage to Musk’s image and above all a sign that her Twitter trial investigations are hurting the billionaire (and its business partners).
In general, the Twitter vs Musk case isn’t going well for Tesla CEO. It appears that Twitter’s lawyers have signed a watertight deal and Musk signed it without investigating. Even the “whistleblower” found by Musk’s legal team seems to have no evidence of what he claims.
But one point remains: if the judge were to agree with Twitter, the consequences would be two. Could force Musk to buy the social network for 44 billion of dollars promised, or he could make him pay the penalty of one billion dollars in the contract.
So why should Musk try to buy Twitter, after months of criticism and insults, when the biggest risk he runs is … buy Twitter?
The reactions of Twitter employees to Elon Musk’s new offer
Musk’s proposal, difficult to understand by analysts, has had a positive effect on the market: today the Twitter shares rose 9 points, reaching $ 52, which is very close to the value offered by Musk to shareholders.
Responses from employees, who were holding a planning meeting for 2023 when the news broke, varied. But all with a hint of frustration.
The Verge reports some replies posted on Twitter’s Slack channel, screenshots of which have been posted on Platformer. “I don’t understand why Elon has to propose another deal. The original one is still there. Sign the check, bro”Writes an employee.
Another employee says the mood at the company is low, with many having “a low opinion” of Musk and his interest in Twitter. On the Blind app, a poll asks “what will you miss most with privatized Twitter”. And one of the most clicked options is “my job”.
But many other employees report that while they loved working for Twitter until last year, 2022 was complicated. While all tech companies have cut staff or hired hires this year, the takeover process (not yet completed) has created friction for employees. Who do not seem enthusiastic about this new offer from Elon Musk, who returns to interest you on Twitter.
Although one of the Twitter workers on Blind specifies that the problem is not personal to Musk, as some of his followers on social media seem to think: “I don’t hate the players, I hate the game ”.