{"id":1443889,"date":"2022-04-18T12:30:00","date_gmt":"2022-04-18T16:30:00","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1443889"},"modified":"2022-04-18T12:30:04","modified_gmt":"2022-04-18T16:30:04","slug":"elon-musk-states-twitter-board-wont-end-up-being-paid-anything-if-this-individual-acquires-company","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/elon-musk-states-twitter-board-wont-end-up-being-paid-anything-if-this-individual-acquires-company\/","title":{"rendered":"Elon Musk States Twitter Board Won\u2019t End up being Paid Anything If This individual Acquires Company"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">32<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Felon-musk-states-twitter-board-wont-end-up-being-paid-anything-if-this-individual-acquires-company%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1443889&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\"><\/div>\n<div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\">\n<\/div>\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\">\n<div class=\"RenderKeyPoints-keyPoints\" id=\"RegularArticle-KeyPoints-4\" data-test=\"keyPoints-1\" data-analytics=\"RegularArticle-keyPoints-4-1\">\n<div class=\"RenderKeyPoints-wrapper\">\n<div class=\"RenderKeyPoints-list\">\n<div>\n<div class=\"group\">\n<ul>\n<li>Elon Musk said Twitter&#8217;s board of directors wouldn&#8217;t receive compensation for serving if he were to take over the social media company.<\/li>\n<li>&#8220;Board salary will be $0 if my bid succeeds, so that&#8217;s ~$3M\/year saved right there,&#8221; Musk said in a tweet.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"ArticleBody-articleBody\" id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\">\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-107039802\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<div class=\"InlineImage-imageEmbedCaption\">Tesla Inc CEO Elon Musk attends the World Artificial Intelligence Conference (WAIC) in Shanghai, China August 29, 2019.<\/div>\n<div class=\"InlineImage-imageEmbedCredit\">Aly Song | Reuters<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p><a href=\"https:\/\/www.cnbc.com\/elon-musk\/\">Elon Musk<\/a> said Monday that <a href=\"https:\/\/www.cnbc.com\/quotes\/TWTR\" target=\"_blank\" rel=\"noopener\">Twitter<\/a>&#8216;s board of directors won&#8217;t be compensated for serving if he acquires the company.<\/p>\n<p>&#8220;Board salary will be $0 if my bid succeeds, so that&#8217;s ~$3M\/year saved right there,&#8221; Musk <a href=\"https:\/\/twitter.com\/elonmusk\/status\/1516056299376623626?s=20&#038;t=z3XQXE3sYv2qJjpRDIRjAA\" target=\"_blank\" rel=\"noopener\">said in a tweet<\/a>.<\/p>\n<p>It&#8217;s not clear who would be appointed to serve the board of a Musk-owned Twitter. Currently, Twitter spends about $2.9 million in cash and stock awards to board members, according to a <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/0001418091\/000114036122014049\/ny20001921x3_def14a.htm#tDC\" target=\"_blank\" rel=\"noopener\">filing with the SEC<\/a>. Executives do not receive additional compensation for their seats, so that does not include payments for CEO Parag Agrawal and former chief Jack Dorsey.<\/p>\n<p>The <a href=\"https:\/\/www.cnbc.com\/quotes\/TSLA\" target=\"_blank\" rel=\"noopener\">Tesla<\/a> and SpaceX CEO has been on a tear to acquire Twitter. After building up more than 9% in stock, Musk <a href=\"https:\/\/www.cnbc.com\/2022\/04\/14\/elon-musk-offers-to-buy-twitter-for-54point20-a-share-saying-it-needs-to-be-transformed-as-private-company.html\">offered to buy Twitter<\/a> in a deal valued at about $43 billion. In response, Twitter <a href=\"https:\/\/www.cnbc.com\/2022\/04\/15\/twitter-board-adopts-poison-pill-after-musks-43-billion-offer-to-buy-company.html\">adopted a limited duration shareholder rights plan<\/a>, often\u00a0referred to as a &#8220;poison pill,&#8221; in an effort to fend off a potential hostile takeover. Musk may also be considering a potential <a href=\"https:\/\/www.cnbc.com\/2022\/04\/18\/musk-tweets-love-me-tender-days-after-twitter-takeover-offer.html\">tender offer<\/a> to\u00a0Twitter\u00a0shareholders to take control of the company.<\/p>\n<p>The outspoken executive has argued Twitter needs to be &#8220;<a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/0001418091\/000110465922045641\/tm2212748d1_sc13da.htm\" target=\"_blank\" rel=\"noopener\">transformed<\/a>&#8221; into a private company so it can become a forum for free speech. He&#8217;s also <a href=\"https:\/\/twitter.com\/elonmusk\/status\/1515403974802870279?s=20&#038;t=5wVr5WG36ESxWnGs9ofMfA\" target=\"_blank\" rel=\"noopener\">said<\/a> that Twitter&#8217;s board members&#8217; interests &#8220;are simply not aligned with shareholders&#8221; and that the board <a href=\"https:\/\/www.cnbc.com\/2022\/04\/18\/twitters-ex-ceo-criticizes-board-musk-says-they-own-almost-no-shares.html\">&#8220;owns almost no shares&#8221; of the company<\/a>.<\/p>\n<p><a href=\"https:\/\/www.youtube.com\/c\/CNBC?sub_confirmation=1\" target=\"_blank\" rel=\"noopener\"><em><strong>Subscribe to CNBC on YouTube.<\/strong><\/em><\/a><\/p>\n<\/div>\n<\/div>\n<div class=\"WatchLiveRightRail-inline WatchLiveRightRail-container\" id=\"RegularArticle-WatchLiveRightRail-7\" data-test=\"watchLiveRightRail-4\" data-analytics=\"RegularArticle-watchLiveRightRail-7-4\">\n<div class=\"WatchLiveRightRail-contents\"><a href=\"https:\/\/www.cnbc.com\/live-tv\/\" class=\"WatchLiveRightRail-wlButton\">WATCH LIVE<img decoding=\"async\" src=\"denied:data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMTgiIGhlaWdodD0iMTgiIHZpZXdCb3g9IjAgMCAxOCAxOCIgZmlsbD0ibm9uZSIgeG1sbnM9Imh0dHA6Ly93d3cudzMub3JnLzIwMDAvc3ZnIj4KPHBhdGggZD0iTTYuOTU5OTYgNi4xMjAwM0wxMS43NiA5LjAwMDAzTDYuOTU5OTYgMTEuODhWNi4xMjAwM1oiIGZpbGw9IndoaXRlIi8+CjxwYXRoIGZpbGwtcnVsZT0iZXZlbm9kZCIgY2xpcC1ydWxlPSJldmVub2RkIiBkPSJNOC41NiAwLjQ0MDAwMkMzLjgzMjQ0IDAuNDQwMDAyIDAgNC4yNzI0NSAwIDlDMCAxMy43Mjc2IDMuODMyNDQgMTcuNTYgOC41NiAxNy41NkMxMy4yODc2IDE3LjU2IDE3LjEyIDEzLjcyNzYgMTcuMTIgOUMxNy4xMiA0LjI3MjQ1IDEzLjI4NzYgMC40NDAwMDIgOC41NiAwLjQ0MDAwMlpNMS4xMiA5QzEuMTIgNC44OTEgNC40NTEgMS41NiA4LjU2IDEuNTZDMTIuNjY5IDEuNTYgMTYgNC44OTEgMTYgOUMxNiAxMy4xMDkgMTIuNjY5IDE2LjQ0IDguNTYgMTYuNDRDNC40NTEgMTYuNDQgMS4xMiAxMy4xMDkgMS4xMiA5WiIgZmlsbD0id2hpdGUiLz4KPC9zdmc+Cg==\" class=\"WatchLiveRightRail-logo\" alt=\"logo\" \/><\/a><a href=\"https:\/\/www.cnbc.com\/live-tv\/\" class=\"WatchLiveRightRail-wlButtonMobile\">WATCH IN THE APP<\/a><\/div>\n<\/div>\n<\/div>\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\"><\/div>\n<div class=\"PageBuilder-col-12 PageBuilder-col PageBuilder-article\">\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Elon Musk said Twitter&#8217;s board of directors wouldn&#8217;t receive compensation for serving if he were to take over the social media company.<\/p>\n","protected":false},"author":498,"featured_media":2315279,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1443889","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1443889","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/498"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1443889"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1443889\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1443889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1443889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1443889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}