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Elon Musk says Twitter board salary will be ‘$0’ if he acquires company

Elon Musk, the world’s wealthiest man and Twitter’s top shareholder, claimed on Monday that if his quest to take over the firm succeeds, the microblogging site would save $3 million each year onboard members’ salaries. “If my offer wins, the board remuneration will be $0, saving $3 million each year,” Musk tweeted. Elon Musk was replying to a tweet from financial adviser Gary Black, who said that the interests of the Twitter board of directors are not aligned with the interests of the company’s shareholders.

“The board’s role is to represent the interests of the shareholders. If they fail to act in the best interests of shareholders, they should be removed from the board and replaced with new members who are aware of their fiduciary responsibilities “He sent out a tweet. The board members would lose their $250K-$300K per year salaries if the Tesla and SpaceX CEO took over Twitter, according to Black.

“Let me state the obvious: If Elon Musk takes Twitter private, the Twitter board members will lose their employment, which pay them between $250K and $300K per year for pleasant part-time work. That might help to explain a number of things “Black sent out a tweet. In response to another tweet claiming that the top 12 Twitter owners, excluding Musk, together with control approximately 77 shares of the microblogging site, Musk responded that “the Twitter board collectively holds nearly nil shares!” aside from founder Jack Dorsey. Musk tweeted, “Objectively, their economic interests are just not aligned with shareholders.”

Elon Musk says he doesn’t own a house and for the most part sleeps in friends’ spare bedrooms

Elon Musk, the world’s wealthiest man, claims that he does not currently own a home. The Tesla and SpaceX founder has already said that he does not possess the opulent residence you would anticipate. In a recent interview with TED’s Chris Anderson, he revealed that he instead sofa surfs.

Musk added in the interview, which was posted on TED’s YouTube on Sunday, “I don’t even own a property right now, I’m basically sleeping at friends’ places.” “If I go to the Bay Area, where much of Tesla’s engineering is done, I essentially sleep in friends’ spare bedrooms.”

According to Forbes, Musk, a father of seven, has a net worth of $270.1 billion. Despite this, Grimes, who is the mother of two of his children, acknowledged to Vanity Fair that they lived in a “very insecure $40,000 home” in a recent interview. The singer went into further detail about Musk’s finances, claiming that he once had a mattress with a hole in it and refused to purchase a new one.

She said their home lacked “security” and she ate “peanut butter for eight days straight.” During the conversation, Grimes disclosed that she and Musk had discreetly had their second child and that, despite reports to the contrary, they had split up. She described them as “fluid” and stated they reside in different homes.

It’s unknown where Grimes presently resides, although Musk said in his TED talk that he usually stays at other people’s homes. Musk said this while responding to a question regarding the wealth gap between normal Americans and billionaires like himself in the United States. “It would be quite troublesome if I spent billions of dollars on personal consumption every year, but that is not the case,” he remarked.

“It’s not like my own consumption is excessive,” he said, conceding that his private jet is an exception. “However, if I don’t use the aircraft, I’ll have fewer hours to work,” he said. While Musk says that his home is nothing more than a spare bedroom at a friend’s house, there are rumors that he does live in a fancy mansion on occasion.

Musk revealed last year that his main apartment is a $50,000 SpaceX rental conveniently located near the space exploration company’s Texas headquarters. In a tweet from June 2021, he also revealed that he owns an “events home” in the Bay Area.

According to the Wall Street Journal, Musk was rumored to be residing at an Austin home owned by Ken Howery in December 2021. According to Forbes, Howery, who co-founded PayPal alongside Musk and others, purchased the 8,000-square-foot mansion in 2018 for $12 million, making it the most expensive property in Austin at the time. Musk’s boasts of living a simple lifestyle date back much earlier. He tweeted in May 2020: “Almost all of my physical belongings are being sold. Will not own a home.”

Sources: MoneyControl CBS News

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Written by Alex Bruno

Freelance space writer Alex Bruno specializes in covering China's quickly expanding space industry. In 2021, he started writing for SpaceXMania. He also contributes to publications including SpaceNews, IEEE Spectrum, National Geographic, Sky & Telescope, and New Scientist. When Alex was a small child, he first experienced the space bug after seeing Voyager photographs of alien planets in our solar system. When not in space, Alex likes to go trail jogging in the Finnish countryside.

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