218
In a Twitter commentary earlier today, Elon Musk stated that the Twitter board salaries would be $0 if his bid to take the company private succeeds. Furthermore, Elon pointed out that reducing the wages of the Twitter board members will save the company roughly 3 million dollars annually.
Board salary will be $0 if my bid succeeds, so that’s ~$3M/year saved right there
— Elon Musk (@elonmusk) April 18, 2022
Elon Musk’s statement on the salaries was in response to another Tweet by the Managing Partner of The Future Fund LLC, Gary Black, who pointed out that the Twitter board took home between $250,000 to $300,000 annually for a ‘part-time job.’ Mr. Black further implied that the salary amount could explain why the Twitter board was so much against Elon Musk owning the company.
Gary Black believes that the Twitter board, in exemption of its founder Jack Dorsey, is ‘weak’ and likely has not rejected Elon’s offer. Additionally, the Twitter board was hoping to get higher bids with some directors wanting to keep their jobs as $250k per year was a good salary to keep.
