Elon Musk Denies Sam Bankman-Fried Invested $100M in Twitter

Twitter’s new owner Elon Musk has dismissed a report that FTX founder Sam Bankman-Fried (SBF) aided his takeover of the social media site with $100 million.

Musk was responding to a Business Insider headline alleging that SBF owns a $100 million stake in Twitter.

SBF had been buying up Twitter stock with a view to his own potential takeover.

While SBF did not end up injecting any fresh cash into the deal, it was his pre-existing Twitter shares that were injected into the company under Musk, fillings show.

On the FTX balance sheet that leaked earlier this month, $43 million in Twitter stock is listed as one of the company’s illiquid assets.

Text messages that were made public as part of Twitter’s lawsuit compelling Musk to go through with his takeover offer have shown that SBF and Musk were introduced in March by Will MacAskill, an Oxford Philosophy Professor who is said to have advised SBF on his "effective altruism" principles.

Share:

Leave a Reply

Your email address will not be published.