Elon Muskthe tech billionaire known for trolling on Twitter, cannot tweet about his deal to buy Twitter if he disparages the company or its representatives, according to a new transaction filing filed with the Securities and Exchange Commission on Tuesday.
discovered by Bloombergthe SEC file provides new information about the terms of the sale. Twitter filed the document on the same day that Musk criticized two top Twitter executives, Vijaya Gadde and Jim Baker, prompting a barrage of personal, in some cases racist, attacks and calls urging Twitter to fire them. Musk posted a meme Wednesday afternoon mocking Gadde and praising the right-wing podcaster. Tim Pool. also seemed criticize to Twitter for being surpassed by former US President Donald Trump’s “Truth Social” network in number of downloads on the App Store.
“Truth Social is now above Twitter and TikTok in the Apple Store. Truth Social (terrible name) exists because Twitter censored free speech,” Musk wrote. “It should be called Trumpet!”
In contrast to the Musk meme, Twitter wrote in its presentation: “Notwithstanding the foregoing, the Equity Investor may tweet about the merger or transactions contemplated herein, provided that such tweets do not disparage the company or any other party.” of their representatives”.
On the same day, Musk lost a case against the SEC over a fine and consent decree. The order requires that any tweets by Musk that could move stock prices must be approved in advance, lest he face further multimillion-dollar fines from the SEC. The CEO of SpaceX had tweeted “funding secured” after declaring that he planned to take Tesla private at $420 a share when, in fact, he did not have the funds to do so, causing the stock price to surge.
Musk singled out Gadde, an executive who was born in India and serves as Twitter’s public policy legal lead, in response to a tweet from the co-host of Breaking Points, Saagar Enjeti, who quoted a recent political history about her: “Twitter’s top lawyer reassures employees and cries during Musk acquisition meeting.” The outlet reported that Gadde had cried as she talked about how she could change Twitter under the direction of her new owner.
Enjeti called Gadde the social network’s “leading censorship advocate” and said she had censored the New York Post story about a laptop belonging to Hunter Biden, the son of then-presidential candidate Joe Biden. Weeks before the 2020 US presidential election, Twitter blocked distribution of the Post’s story by preventing users from sharing links through tweets or direct messages, a move that angered conservatives who claimed the company was trying to help Biden win the election. Additionally, Twitter blocked the media outlet for a while, a move it later reversed. It was later shown that much of the laptop’s extravagant history it was true.
“Suspending the Twitter account of a major news organization for publishing a truthful story was obviously incredibly inappropriate,” tweeted Musk in response to Enjeti.
Musk’s comment sparked a flood of tweets insulting Gadde and calling on Musk to fire her.
However, Gadde wasn’t the only employee to receive Musk’s attention on Tuesday. She also weighed in on another tweet in which Mike Cernovich, a notorious right-wing troll, alleged men’s rights activist, and conspiracy theorist known for promulgating ideas like #Pizzagate, claimed that Jon Baker, Twitter’s deputy general counsel, had facilitated a fraud while working at the FBI. “Sounds pretty bad…” Musk tweeted in response.
Former Twitter CEO Dick Costolo seemed to indirectly respond to Musk by writing, “Harassment is not a form of leadership.”
Unsurprisingly, Musk’s comment also led to users attacking Baker and calling for him to be fired.
The incidents underscore concerns expressed by Twitter employees in recent weeks. Rumman Chowdhury, director of machine learning, transparency and responsibility of the company, said in mid april that news of Musk’s involvement on Twitter and subsequent attacks by his followers had a “chilling effect” on employees.
“This is going to sound weird, but Musk’s chilling effect was an immediate thing that bothered me significantly. Twitter has a beautiful culture of hilarious constructive criticism, and I saw that get buried due to his minions attacking employees,” Chowdhury said. added: “My #1 rule is ‘don’t feed the trolls’; people like him thrive on attention, including negative attention. He was not going to give him that satisfaction.”
Lara Cohen, Twitter’s head of global partnerships, wryly tweeted: “I’m shocked, SHOCKED that people are going after two of our top female executives on Day 1.”
The Washington Post reported that in an internal meeting with leaders on Monday, employees asked how Twitter would protect the diversity of its staff, given that Musk has been sued for discrimination in the past. Employees also asked Twitter leaders how individual employees would be protected, as Musk has a history of retaliating against his workers, the outlet said.
Twitter told Gizmodo that it had no comment on Musk’s tweets.
The sale of the company to Musk it was announced on Monday after weeks of speculation. Tesla shares have fallen 11% since then, as investors reacted to the news that Musk would buy Twitter. The crash wiped out nearly $25 billion of Musk’s personal wealth and $114 billion of Tesla’s market capitalization, as noted. Forbes.
Musk secured financing for the Twitter purchase through $20 billion in loans from Morgan Stanley and another $21 billion in equity financing, meaning he will likely have to sell tesla stock to own the social network.
Despite all this financial and digital turmoil, Musk remains the richest man in the world and continues to tweet as he pleases. I wonder if anyone told him that he can’t look down on people. Sadly, even if someone did, something tells me Musk probably wouldn’t care.