Elon Musk says he’s ‘moving on’ after ‘mocking’ Bill Gates

  • Elon Musk said in a tweet on Sunday that he “moved on” from “making fun” of Bill Gates.
  • Musk previously confirmed a leaked text conversation in which he called out Gates for shorting Tesla stock.
  • The Tesla CEO also posted a meme poking fun at Gates’ weight on Friday.

Elon Musk said he was ‘moving’ from ‘mocking’ Bill Gates after leaked texts revealed the Microsoft founder shorted Tesla.

After Musk initially shared a vague tweet on Sunday that led many to speculate he may be shutting down recent Twitter takeover attempts, Tesla’s billionaire CEO followed up to clarify that the post was referring to Gates. On Friday, Musk confirmed the veracity of leaked texts between the two tech moguls in which Musk declined a request from Gates to discuss a possible philanthropic endeavor because of his “massive short stance against Tesla.”

“Sorry, but I can’t take your climate change philanthropy seriously when you have a massive short stance against Tesla, the company doing the most to solve climate change,” Musk wrote in a text to Gates, according to screenshots.

The text came after Musk asked if Gates still had “a half-billion-dollar short position against Tesla.” A short position generally involves betting that the value of a stock will fall by selling a borrowed stock with the intention of buying it back later at a lower price.

“Sorry to say I didn’t close it,” Gates replied, according to the screenshots. “I would like to discuss philanthropy opportunities.”

Musk then posted a meme on Friday that showed a photo of Gates juxtaposed alongside an image of a pregnant man emoji, apparently mocking his weight.

Musk’s clarification on his initial tweet came after several users asked if that meant he was giving up on his attempt to buy Twitter. The move sparked an uproar in which pundits predicted Musk could go ahead with a hostile takeover of the social platform.

On Thursday, Musk confirmed that he had secured funding to buy Twitter from banks and other entities, saying in a regulatory filing on Thursday that he had committed “to provide a total of approximately $46.5 billion. dollars” to buy the company.

The filing was a response to Twitter’s “poison pill” defense to block Musk’s bid – a tactic also known as a shareholder rights plan, which essentially dilutes a company’s stock by increasing the total number of shares on the market in order to avoid acquired against their will.

The shareholder rights plan, filed by Twitter in a Securities and Exchange Commission filing on Monday, would be activated if an “entity, person or group” obtained more than 15% of Twitter stock. Musk currently owns 9.1% of the company’s shares.

However, the funding confirmation puts Musk in a position to use a traditional hostile takeover approach called a takeover bid in which Musk can offer shareholders cash for their shares at a higher price than is appraised. on the market. His next move at this point remains to be seen.

Earlier this month, Musk was named to Twitter’s board after announcing his significant stake in the company, a position he first accepted before turning it down. A few days later, he made an offer to buy the social media company.

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