Twitter stock

2022 - 10 - 31

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Image courtesy of "Financial Times"

Jack Dorsey rolls his stake into Elon Musk-owned Twitter (Financial Times)

Jack Dorsey has rolled his entire stake of Twitter shares, worth nearly $1bn at the buyout price of $54.20, into the privately held company he founded, ...

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Image courtesy of "Forbes"

Saudi Prince Alwaleed Becomes Twitter's Second Largest ... (Forbes)

After flip-flopping on his support of Elon Musk's bid for the social media company, the royal confirmed he followed through with his $1.9 billion equity ...

Then on May 13, the same day Musk’s tweet about his $44 billion takeover of the social media company being on hold sent shares spiraling 9.7%, Alwaleed bought $20 million of Twitter stock, only to sell the same shares for a comically small $1.7 million trading loss the following Wednesday. This prompted a follow-up tweet from Musk questioning “the Kingdom’s views on journalistic freedom of speech.” On May 5, Alwaleed responded in the same thread that it was “great to connect with you my "new" friend @elonmusk.” For years, Alwaleed–a nephew of the Saudi king–was one of the most high-profile Saudi investors in U.S. But the Middle Eastern money is a good sign for Musk, with 32% of the original $7.1 billion equity commitment coming from Alwaleed and the Qatari fund. A spokesperson for Alwaleed did not immediately respond to a request for comment. Forbes removed Alwaleed from the billionaire ranks in March 2018 due to a lack of clarity about which assets he still owns; Forbes did the same for others who’d been listed as Saudi billionaires. I am a CPA and former Big Four financial statement auditor. He picked up stakes in companies like HP, Apple and Kodak and more along the way, and climbed to the upper ranks of Forbes’ list of the World’s Billionaires. In November 2017, the Saudi government detained Alwaleed and about 200 others in the Ritz-Carlton hotel in Riyadh on unspecified corruption charges. (aka CFIUS) in a Together Alwaleed and Kingdom Holding now own approximately 4% of Twitter. When Elon Musk’s $44 billion Twitter acquisition was finalized last Thursday, a few key questions remained.

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Image courtesy of "Observer"

Twitter Employees Laid Off Before Nov. 1 Could Miss Out on Stock ... (Observer)

Elon Musk has agreed to pay out Twitter employees' equity-based compensation after taking the company private, but layoffs could complicate that. By Courtney ...

[$100 million](https://www.nytimes.com/2022/10/28/business/dealbook/elon-musk-twitter-employee-payouts.html) in cash once their stock grants vest tomorrow, according to the New York Times. If employees believe they’re terminated solely so Musk can avoid paying out their stock-based bonuses, “that can trigger all kinds of alarm bells from a legal perspective,” said Eric Talley, a Columbia Law professor specializing in corporate law, including mergers and acquisitions. Vesting schedules help ensure employees [stick around](https://seekingalpha.com/article/4519630-restricted-stock-units-rsu) at the company for a number of years, rather than cash out their stock and leave. Acquiring parties tend to have the upper hand to decide what happens to employees’ stock-based compensation after a deal, said Kristin McKenna, managing director at Darrow Wealth Management, a financial services firm based in Boston. Stock options that haven’t been vested yet will be paid out should the employees holding them remain at Twitter through the applicable vesting dates, according to 1), and there are reportedly fears within the company that Musk will lay off workers before then to avoid paying out those grants in cash, part of the terms of his acquisition.

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Image courtesy of "Markets Insider"

Bankman-Fried may cash in $100 million of Twitter stock after Musk ... (Markets Insider)

The FTX boss and other Twitter investors will receive $54.20 for each share they owned before Musk's $44 billion buyout of the social-media company.

Bankman-Fried may be waiting to receive the cash value of his defunct shares from Musk's appointed paying agent. Twitter's stock price has whipsawed this year, as investors initially cheered Musk's takeover offer of $54.20 a share in April, then feared for several months he would back out. It's unclear when Bankman-Fried invested in Twitter, but if he bought the stock in the $30-to-$40 price range it's traded in for most of this year, he could net a profit in the tens of millions of dollars now that Musk's $44 billion buyout has gone through. Crypto billionaire Sam Bankman-Fried could see a cash windfall from Elon Musk's purchase of Twitter, according to - Bankman-Fried owned up to $100 million of Twitter stock before Musk closed the deal, The Block said. - FTX owner Sam Bankman-Fried could see a cash windfall from Elon Musk's Twitter purchase.

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Image courtesy of "Bloomberg"

Musk's Twitter Investors Include Saudi Prince, Dorsey and Qatar (Bloomberg)

Elon Musk bought Twitter Inc. last week for $44 billion with the help of Wall Street bank loans and shareholders who agreed to roll over their interest in ...

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Image courtesy of "CNN"

Elon Musk disbands Twitter's board, cementing control over company (CNN)

Twitter's board of directors was dissolved on Thursday following Elon Musk's takeover of the company, according to a securities filing on Monday.

He also is reported to be planning large layoffs at the company. [tweeting ](https://www.cnn.com/2022/10/30/business/musk-tweet-pelosi-conspiracy)a link to a fringe conspiracy theory about the violent attack on Paul Pelosi, the husband of House Speaker Nancy Pelosi. Musk, according to the filing, became “the sole director of Twitter.”

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Image courtesy of "Business Insider"

Jack Dorsey saves Elon Musk $1 billion by rolling over Twitter shares (Business Insider)

Dorsey left his second stint as CEO of Twitter last year and has supported Musk's $44 billion takeover.

[mass layoffs are widely expected](https://www.businessinsider.com/elon-musk-adds-allies-twitter-staff-plans-layoffs-for-monday-2022-10) to hit employees soon. [the return of Vine](https://www.businessinsider.com/elon-musk-tells-twitter-engineers-ready-vine-reboot-2022-10), the short form video platform, within Twitter. That court case set to be formally closed soon, as Musk is now the owner of the platform. Dorsey formally rolled his shares on Thursday, the same day Musk officially became the owner of Twitter. The value of Dorsey's roughly 18 million shares is a little over $1 billion, according to the filing. [new filing](https://www.sec.gov/Archives/edgar/data/1418091/000119312522274034/d393652dsc13d.htm) with the SEC.

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Image courtesy of "The Washington Post"

Musk's inner circle worked through weekend to cement Twitter layoff ... (The Washington Post)

SAN FRANCISCO — Members of billionaire Elon Musk's inner circle huddled with Twitter's remaining senior executives throughout the weekend, ...

[described](https://www.washingtonpost.com/politics/2022/10/30/paul-pelosi-attack-misinformation-elon-musk/?itid=lk_inline_manual_44) by fact-checkers as a low-credibility source favoring the extreme right. Musk last week told employees when he visited Twitter’s headquarters that he didn’t plan to cut three-fourths of the workforce. The company has yet to release a formal announcement of the acquisition. Other right-wing influencers who Musk has interacted with online also amplified the conspiratorial narrative. They also discussed identity verification on the platform, including verifying high profile users with blue check marks, according to a Musk tweet and the people. 1, when Twitter employees are slated to receive additional compensation related to stock grants. Meanwhile, the team was deciding on what is expected to be a first round of layoffs, which will target roughly a quarter of the staff totaling more than 7,000, according to one of the people. He describes himself as a former Twitter executive on his LinkedIn page. Musk first made a bid for the company in the spring, then tried to back out months later. Longtime Musk associates David Sacks and Jason Calacanis appeared in a company directory over the weekend, according to photos obtained by The Washington Post. On Sunday, Musk posted apparent internal messages from Roth about Twitter metrics, arguing they show Twitter’s board and lawyers “deliberately hid … The billionaire Tesla owner bought Twitter for $44 billion last week after several strenuous months of negotiations and legal wrangling.

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Image courtesy of "Hollywood Reporter"

Twitter Co-Founder Jack Dorsey Retained Stake in Company After ... (Hollywood Reporter)

Jack Dorsey kept his $1 billion stake in Twitter after Elon Musk took over the company.

It is not immediately clear what cause Musk terminated Agrawal for, or if the former CEO will seek to take Musk or the company to arbitration over the decision. [filings](https://www.sec.gov/Archives/edgar/data/1418091/000119312522274034/d393652dsc13d.htm) Monday evening, Dorsey opted to roll his ownership stake in the company over to Musk’s new private venture. This is the right path. While Musk had said in the months leading up to the closing of the deal that he had been in talks with Dorsey to roll over his stake, neither man had confirmed the deal until the filings were disclosed on Oct. He could have cashed those shares out at $54.20 a piece when Musk took the company private, instead, he will end up saving Musk about $1 billion in his purchase price by rolling those shares over. [fired him](https://www.hollywoodreporter.com/business/digital/elon-musks-twitter-era-begins-setting-stage-for-reboot-of-social-platform-1235233450/) for cause after closing the Twitter deal. “This is also [Twitter CEO Parag Agrawal’s] goal, and why I chose him. [Subscribe Sign Up](https://cloud.email.hollywoodreporter.com/signup/) [he tweeted](https://www.hollywoodreporter.com/business/digital/jack-dorsey-response-elon-musks-twitter-takeover-1235135262/) after Musk launched his takeover. Thank you both for getting the company out of an impossible situation. [ more than 18 million shares](https://www.hollywoodreporter.com/business/digital/jack-dorsey-parag-agrawal-pay-twitter-execs-could-see-massive-paydays-if-elon-musk-takeover-closes-1235134985/) in Twitter, valued at about $1 billion. [Share this article on Facebook](https://www.facebook.com/sharer.php?u=https://www.hollywoodreporter.com/business/digital/twitter-jack-dorsey-retains-stake-after-elon-musk-buy-1235252557/&title=Twitter%20Co-Founder%20Jack%20Dorsey%20Retained%20Stake%20in%20Company%20After%20Elon%20Musk%20Acquisition,%20Filings%20Show&sdk=joey&display=popup&ref=plugin&src=share_button&app_id=1153511048447777) [Share this article on Twitter](https://twitter.com/intent/tweet?url=https://www.hollywoodreporter.com/business/digital/twitter-jack-dorsey-retains-stake-after-elon-musk-buy-1235252557/&text=Twitter%20Co-Founder%20Jack%20Dorsey%20Retained%20Stake%20in%20Company%20After%20Elon%20Musk%20Acquisition%2C%20Filings%20Show&via=thr) [Share this article on Email](mailto:?subject=thr%20:%20Twitter%20Co-Founder%20Jack%20Dorsey%20Retained%20Stake%20in%20Company%20After%20Elon%20Musk%20Acquisition,%20Filings%20Show&body=https://www.hollywoodreporter.com/business/digital/twitter-jack-dorsey-retains-stake-after-elon-musk-buy-1235252557/%20-%20Twitter%20Co-Founder%20Jack%20Dorsey%20Retained%20Stake%20in%20Company%20After%20Elon%20Musk%20Acquisition,%20Filings%20Show) [Show additional share options](#) [Share this article on Print]() [Share this article on Comment](https://www.hollywoodreporter.com/business/digital/twitter-jack-dorsey-retains-stake-after-elon-musk-buy-1235252557/#respond) [Share this article on Whatsapp](whatsapp://send?text=Twitter%20Co-Founder%20Jack%20Dorsey%20Retained%20Stake%20in%20Company%20After%20Elon%20Musk%20Acquisition,%20Filings%20Show%20-%20https://www.hollywoodreporter.com/business/digital/twitter-jack-dorsey-retains-stake-after-elon-musk-buy-1235252557/) [Share this article on Linkedin](https://www.linkedin.com/shareArticle?mini=1&url=https://www.hollywoodreporter.com/business/digital/twitter-jack-dorsey-retains-stake-after-elon-musk-buy-1235252557/&title=Twitter%20Co-Founder%20Jack%20Dorsey%20Retained%20Stake%20in%20Company%20After%20Elon%20Musk%20Acquisition,%20Filings%20Show&summary&source=thr) [Share this article on Reddit](https://www.reddit.com/submit?url=https://www.hollywoodreporter.com/business/digital/twitter-jack-dorsey-retains-stake-after-elon-musk-buy-1235252557/&title=Twitter%20Co-Founder%20Jack%20Dorsey%20Retained%20Stake%20in%20Company%20After%20Elon%20Musk%20Acquisition,%20Filings%20Show) [Share this article on Pinit](https://pinterest.com/pin/create/link/?url=https://www.hollywoodreporter.com/business/digital/twitter-jack-dorsey-retains-stake-after-elon-musk-buy-1235252557/&description=Twitter%20Co-Founder%20Jack%20Dorsey%20Retained%20Stake%20in%20Company%20After%20Elon%20Musk%20Acquisition,%20Filings%20Show) [Share this article on Tumblr](https://www.tumblr.com/widgets/share/tool/preview?shareSource=legacy&canonicalUrl&url=https://www.hollywoodreporter.com/business/digital/twitter-jack-dorsey-retains-stake-after-elon-musk-buy-1235252557/&posttype=link&title=Twitter%20Co-Founder%20Jack%20Dorsey%20Retained%20Stake%20in%20Company%20After%20Elon%20Musk%20Acquisition,%20Filings%20Show)

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