What's going on moon gang now, first off my apologies for sounding, like i'm going through puberty, i guess that's just life, but i do want to give you an update on the crazy saga between elon, musk and twitter and the whole takeover thing, because every single day, This is the story that keeps on giving. It is absolutely nuts so we'll be giving an update of what this poison pill is, and that's the defense that twitter's taking on to try to stop elon, then we'll be getting into the board itself of twitter. Are they representing their own financial interests or are they appropriately representing the shareholders of twitter and then we're gon na wrap it up with some of the important stuff of how can elon actually financially pull this off? We know he's worth a lot, but is he liquid? In that cash - and there are some reports that he actually doesn't even own a home and right now, he kind of just rotates between friends, houses and basically sounds like he's crashing on their futon. So a lot to get into, and it is a crazy, crazy financial story between billionaires wall street and all that good stuff, i'm sure you're gon na enjoy it.

So with all that being said, let's hop right into it for a little bit of reference. Just so you know today is april 18th, as i'm filming this and twitter is currently trading just below 47. So over the weekend, some crazy stuff happened, or i should better say, as we got into the weekend um there was a lot of movement. Elon musk is no longer twitter's, largest shareholder and says he's not sure his takeover bid will be successful, so he owns 9.2, at least as of the most recent sec filings, and now he was number one, but now vanguard recently bought some to close out the most Recent week of training and they're up to 10.3, so it goes vanguard, then elon and when he's referring to the not sure thing.

Well, that's this poison pill, defense that twitter's board has decided to take on what this is is, basically it will trigger if any individual entity owns 15 of twitter as soon as that happens, what will then happen is that twitter will offer current shareholders the ability to Buy more shares at a discounted price and what that will do will basically mathematically it's a mathematical side of hand. It will put more shares in they're, basically deluding themselves, but that'll make the percentage ownership of this large entity that person that was at 15 percentage-wise. It will bring them down. Hence why elon said not sure, but in an interview they asked.

If this happened, do you have a plan? He said? Yes, i have a plan b, so they followed through with this poison pill. Defense, as of this morning, it was reported twitter, declared dividend of one right for each outstanding share twitter authorized and declared a dividend distribution. So this isn't a cash dividend. Just remember dividend.

I know it's thought of like if you own the stock and whenever there's the date of record, if you own it on that, you get a little bit of a kickback a lot of the times. It's a cash dividend, but you can give out other dividends in this case. The dividend is uh, basically the right to vote, and then this is referring back to the shareholders if they want, they can buy shares at a discounted price. In the event that someone gets up to 15, so this relates more to the poison pill.

Defense than anything else, it's not a cash dividend, but that was announced this morning april 18th, just so, everyone knows, following through on the whole poison pill defense. This is where stuff got really nuts. Over the weekend ex-ceo and the founder of twitter jack dorsey criticizes twitter bored muska says it owns almost no shares. This is kind of crazy, so someone pointed out the individual ownership of the board members of twitter and, as you can see, it's pretty much.

Nothing jack still owns quite a bit, but i don't even believe he's on the board anymore uh. He definitely kind of got run out. He says he didn't get run out, but people are like uh, but it does seem like he's doing better with square and kind of in his own crypto world. Now but anyway, uh he's obviously not happy with the board, as i'm about to show you but right here all these numbers extremely low they're, not even at point one percent.

A lot of them aren't even close to that. So remember with the board their duty. One hundred percent is to represent the interest of their shareholders, and a lot of people are pointing out of. Is this group of people? Are they properly representing the interest of their shareholders, or do they just care about lining their own pockets, because all those board members get paid between 250 to 3 000 a year that someone quickly pointed out and elon followed up board salary will be at zero dollar.

If my bid succeeds so that will be three million a year saved right, there kind of calling out the board of like all right like you, don't really seem to be doing anything. That's really too net beneficial for the company um and that's an easy way to save three mil right there, jack a little bit later, followed up with this people were talking about the board of how it's important to have the right board that actually cares about the Shareholders opposed to themselves and right here they were talking about and jack said. It's consistently been the dysfunction of the company in reference to twitter's board, and then someone asked are you allowed to say this? He said no, which i thought was absolutely hilarious, so jack. Who was quiet for the longest of time in this whole, like craziness, this narrative, this saga kind of opening his mouth saying? No, no, the board is actually a detriment to the company.

How could this all go? We know there's the poison pill, defense, which to remind you, is basically they can offer more share to shareholders and that would dilute the biggest ones. So they don't have that much voting power because it's all about percentage ownership. So how can this really be resolved? Well, elon, he did make an offer of about 43 billion and he tweeted this out on the 16th love me tender. He could tender another offer, he could come in higher than 54 20 per share, that's a possibility or what he could do, maybe is run up to 14.

14.9 percent get a couple of his other people: friends, buddies, other ultra, wealthy high net worth individuals or organizations, or financial conglomerates to do it and by mine bath. Basically, if they get four of those people to do it, they would have over 50 control of the company. So that's another possibility he could come in larger offer or he could run it up and not trigger a poison pill. Get some other parties interested parties to do it and maybe in a group effort they could pull it off.

That's obviously a possibility, no matter if it's running up to 14 or if it's going and offering something huge he's. Gon na need money, and i want to cover this just because i think it's cool elon musk can't afford to buy twitter and would have to borrow against tesla stock. This is kind of like a no duh thing when you really think about it. No person who's worth billions and billions and billions of dollars just has that in account it's invested or it's somehow tied up in real estate the market.

Something like that. It's not just sitting in an account, because really inflation itself would mean that they lose millions and millions of dollars a day. So when people in this world do these types of things, what they do commonly is get a loan against their assets, it could be against their properties or it could be against their stock themselves. It's like give me that money i'll use that money for now and here's my collateral.

It's my own stock um, so they're pointing out that elon musk currently has a 2.95 billion in cash, which is still quite a bit of cash. That might just be his own. Like personal investments at this point, but overall he would have to go to a big big bank and say: hey here's my twitter holding here's, my company whatever holding. Can you give me a loan against? It is most likely how it would play out, and after people saw this article, we got ta follow up with this, which i think is even more crazy.

Elon musk the world's richest persons, says he doesn't own a home right now and rotates around friends spare rooms. How nuts is that the world's richest man, just bumming it on his buddy's futons, the world's richest man, said that he doesn't own a home and crashes on friends couches. I don't even own a place right now, i'm literally staying at friends places if i travel to the bay area, which is where most of tesla's engineering is, i basically rotate through friends spare bedrooms. I think this is this is just so elon in a recent interview.

In vanity, fair musk's, on-again, off-again partner grimes said that sometimes lived below the poverty line. He refused to buy a new mattress after her side had a hole in it and in 2015, google's co-founder and then ceo larry page said that sometimes when musk visited silicon valley, he would email, paige and say i don't know where to stay tonight. Can i come over, this is from the world's richest man. I think it's absolutely incredible and it kind of shows i don't know it shows a little bit more about elon and i really don't believe he's focused.

I mean, even in this article kind of pointed out, that his big expenditure was buying his own plane and he uses it just so. He can work more like he wants his own plane to save himself time because, like me, like you, only has 24 hours in the day, but other than that he doesn't seem to be a wealth-driven type of a person. He seems to be a person who is driven by um a different definition of success, obviously, with tesla he's trying to make um the biggest eevee brand known to man with spacex he's trying to make the human species a multi-planetary species, and his commentary on twitter is That he believes it is imperative for humanity to have a free speech, digital forum, almost a public square, that we can all engage with with like true freedom of speech, so i mean he even had commentary that this twitter thing for him. It's not a wealth play.

It's not an economic play, most likely he'll end up losing money on it, especially if he buys it at a large large premium. He might end up making money. Obviously time will tell, but it's so interesting to see we're kind of getting an idea. What drives him and it's clearly not money, if he's just bumming it around on people's or buddies couches, when he could probably buy a house in every major city if you wanted to, and it kind of has that vibe of, i guess you cut out ordering your Starbucks and you stop getting your avocado toast and i guess you too could become the world's richest man.

So that's what i have for you. That's the update on everything going on right now with elon and twitter and, if there's any more updates, obviously i will keep you in tune if you're interested in this kind of stuff, don't forget to hit that subscribe button and join up with the moon gang i'll Catch you in the next video you.