Elon Musk Calls Report That SBF Invested $100M in Twitter ‘False’

 Elon Musk Calls Report That SBF Invested $100M in Twitter ‘False’

Twitter’s new proprietor Elon Musk dismissed a report that disgraced FTX founder Sam Bankman-Fried put $100 million into Musk’s Twitter takeover.

Responding to a Enterprise Insider headline alleging that SBF owns a $100 million stake within the newly personal Twitter, Musk tweeted merely: “False.”

The Enterprise Insider story was a writeup of a report from recently-launched information website Semafor that mentioned Musk invited SBF to “roll” his current Twitter inventory into the corporate, which was quickly to go personal below Musk’s possession.

SBF had been shopping for up Twitter inventory with a view to his personal potential takeover, which was beforehand reported.

Whereas SBF didn’t find yourself injecting any contemporary money into the deal—regardless of expressing willingness, by a consultant, to contribute as a lot as $10 billion—it was his pre-existing Twitter shares that Semafor stories have been injected into the corporate below Musk, primarily based on unpublished textual content messages Semafor cites.

Musk’s denial to date is imprecise, and was solely made in response to a headline that SBF “owns a $100 million stake.” He has but to specify what a part of the report he is calling “false” and whether or not the FTX founder was concerned within the deal in any respect. 

On the FTX steadiness sheet that leaked earlier this month, $43 million in Twitter inventory is listed as one of many firm’s illiquid property. (However not $100 million.)

Musk has additionally criticized Semafor by pointing out that SBF was a backer, one thing the publication discloses in its personal protection of the FTX disaster.

SBF and Musk

Textual content messages that have been made public as a part of Twitter’s lawsuit compelling Musk to undergo together with his takeover supply have proven that SBF and Musk have been launched in March by Will MacAskill, an Oxford Philosophy Professor who is claimed to have suggested SBF on his “efficient altruism” rules.

SBF on the time mentioned he was “completely happy to speak about Twitter (or different issues at any time when!)” with the Tesla founder.

He reiterated this supply on April 14, the day Musk made recognized his supply to purchase Twitter outright, and despatched Musk a hyperlink to his personal Twitter thread outlining a imaginative and prescient for a decentralized Twitter.

The identical thread was additionally despatched to Musk by SpaceX and Boring Firm backer Michael Kives, who mentioned it could possibly be “cool to do that with Sam Bankman-Fried.”

However in latest weeks, Musk has claimed his early interactions with the FTX founder set off alarm bells. He mentioned Bankman-Fried “set off my bs detector.”

He elaborated additional in a Twitter Space, saying: “I talked to him for about half an hour, and my bullshit meter was like red-lining. This dude is stuffed with shit, that was my impression.”

Musk was referring to the interval when he was in search of different traders to contribute to the Twitter deal. “He doesn’t have capital, and he is not going to come by, that was my prediction,” he added.

FTX’s rival and would-be savior Binance ultimately invested $500 million in Musk’s Twitter takeover.

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