There has been a lot of commotion around Twitter in the last few days. Joe Rogan has chimed in on the Elon Musk news. He didn’t give a big long message about it but kept it short and simple on his Instagram page. This week, Musk announced that he had acquired 9.2% of Twitter shares. He also made an offer to buy the company outright for $43 billion.
Rogan, a friend of the Tesla billionaire, is unsurprisingly loving this moment. In the past, Musk has been on The Joe Rogan Experience. Famously smoking weed on the podcast which is recorded for audio and video. Neither one of the two men are strangers to causing an uproar in the media or online. That’s for sure.
Joe Rogan All-In on Elon Musk Buying Twitter
The Instagram post below is just a simple screenshot and five-word caption. “Praise Odin for Elon Musk,” the comedian and host said.
This story has been getting a little crazy. Each day something new comes out and it isn’t clear what the next step is going to be. After becoming the biggest individual shareholder in the world for Twitter, Musk made a proposal. The two sides were working to add Musk to the board of directors. However, that was declined by the SpaceX CEO.
After declining to join the board, the billionaire made another offer. $43 billion for the entire company of Twitter. Of course, the folks at the social media giant have not seemed interested in accepting. They have their own long-term interests that involve holding onto their shares, despite the price that Musk offered.
It has been an up and down, back and forth between the company and its newest largest shareholder. At 9.2%, he is the single highest-holding individual of Twitter stock. The whole buyout thing has caused Twitter to make a big move and enact a “poison pill” plan for a hypothetical future.
“Poison Pill” Plan in Place to Stop Elon Musk From Taking Over Twitter
In order to keep a single shareholder from holding too much power in the form of shares, companies will enact “poison pill” plans. In the case of Twitter, it is to stop Musk from raking in shares until he reaches a majority or an overwhelming share of the company.
Basically, in the event that an individual, such as Musk, owns 15% or more of the company, the plan will go into effect. It is going to be active for one year, until April 2023. In the event that threshold is met, the market will be flooded with cheap shares so that current shareholders could devalue the stock and power of the big fish.