The price of Elon Musk’s Twitter bid is another hoax

Elon Musk has slotted another pot joke into a major buyout proposal — and this time it’s his $41 billion bid to buy Twitter.

The billionaire made a surprise offer to buy 100% of Twitter for $54.20 per share — a number that happens to include a “420” reference to smoking weed.

The number has special meaning for pot enthusiasts — and for Musk himself, whose frequent inclusion of the reference in serious business dealings has spawned countless memes.

“I am offering to buy 100% of Twitter for $54.20 per share in cash, a premium of 54% from the day before I started investing in Twitter and a premium of 38% from the day before my investment has been publicly disclosed.” Musk in a letter to Twitter CEO Bret Taylor.

Just days earlier, Musk had joked about smoking weed at Twitter board meetings and shared a smoke-shrouded meme of himself during his infamous 2018 appearance on The Joe Rogan Experience podcast.

“Twitter’s next board meeting will be highlighted,” the meme read.

Elon Musk's offer to buy Twitter included a not-so-subtle potshot.
Elon Musk’s offer to buy Twitter included a not-so-subtle potshot.
Elon Musk smoking weed meme
Elon Musk shared the meme on Twitter.

Musk’s most infamous reference to the number came on Aug. 7, 2018 — when he infamously tweeted that he was “considering privatizing Tesla for $420,” with “funding secured.” At the time, Tesla was struggling with a liquidity crisis as it ramped up production of its flagship Model 3 sedan.

The tweet sparked Musk’s lengthy legal battle with the SEC, which was suing the billionaire for allegedly making false or misleading statements. The agency said Musk’s use of “$420” was a weed reference meant to impress his longtime girlfriend, electronic pop star Grimes.

Elon Musk and Grimes
Elon Musk said his 2018 tweet referring to a plan to take Tesla private for $420 a share was a joke to impress his girlfriend Grimes.
AFP via Getty Images

In a September 2018 filing, the SEC said Musk said he used the number “because he had recently learned of the importance of the number in marijuana culture and thought his girlfriend “would find it funny, which admittedly not a good one The reason is to set a price. ”

Musk is currently fighting to be cleared of a consent decree with the SEC that requires a Tesla attorney to review all tweets about the electric-car maker and its business before they can be released.

Elon Musk previously joked about smoking weed at Twitter board meetings.
Elon Musk previously joked about smoking weed at Twitter board meetings.

Last month, Musk compared himself to rapper Eminem in a court filing alleging the SEC was violating his First Amendment rights.

Musk’s escalating battle with Twitter could lead to more problems with the SEC. A Twitter shareholder is already suing the billionaire, claiming he failed to disclose within a required timeframe that his stake in the company exceeded 5%, artificially lowering the price.

Musk, the company’s largest single shareholder, announced his hostile takeover bid after stepping down from an agreement to take a seat on Twitter’s board of directors. In an SEC filing early Thursday, he said “Twitter needs to be turned private” to unlock its “extraordinary potential.”

“My offer is my best and final offer and if not accepted I would have to reconsider my position as a shareholder,” he added. The price of Elon Musk’s Twitter bid is another hoax


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