This is for all of those believers in Elon Musk and their belief that he’s above reproach. From the get go, Elon Musk’s ambitions towards Twitter had nothing at all to be do with being altruistic or his seeking to improve the well being of the company . In the words of Wall Street movie character Gordon Gekko ” Greed is Good “.
Unfortunately, Musk is not only ethically challenged, but many of his business practices would actually put Gordon Gekko to shame. I’m waiting to see if the supposed investigation of Elon Musk by the Federal Trade Commission and Securities & Exchange Commission will come to anything of note .
Musk broke SEC guidelines concerning his build up of stock, before launching his unsolicited $44.1 billion bid for Twitter. Since the story broke, more than $15 billion has been wiped off the value of Twitter .
Elon Musk is going to be sued by a litany of Twitter shareholders for stock price manipulation . He’s been playing by his own set of rules for years and many Wall Street firms have often joined him willingly for the ride, because they know they’re going to make money unscrupulously. Elon Musk is this era’s version of Gordon Gekko.
If Martha Stewart can be found guilty and imprisoned in a federal facility for having made a $110,000 profit from the use of insider trading , then Elon Musk should be facing some serious charges for having broken SEC guidelines and his failing to notify the SEC of his build up of stock in Twitter, once he’d purchased more than 5 percent of the company. He went to purchase another 11 % of the company and netted more than $347 million on paper , pre-tax profit .
Now that Elon Musk has placed his take-over bid on hold, claiming that Twitter has been using bots to drive up the volume of content on the social media platform. It will be interesting to see if he will drop his bid for the company altogether . If he chooses to do so , then he’d have a heavy price to pay , because of the financing arranged in conjunction with his investment partners. That cost could be in excess of $1 billion, due to the structure of the capital raised . Elon Musk is the consummate snake oil salesman .
5 thoughts on “Gordon Gekko Meet Elon Musk your brother from another mother”
Elon Musk has no redeeming qualities whatsoever.
“Elon Musk has no redeeming qualities whatsoever.”
Not true Tophat. While living in S.Africa he stood up against apartheid.
He didn’t do that much. Elon Musk left Pretoria , South Africa as a teen. In recent years he’s switched his political allegiance from Democrat to Republican and is deeply supportive of Donald Trump . As to his claims of being an advocate of free speech , that’s absolute crap.
Now that Musk is being investigated by two separate federal agencies, let’s see how much business savvy he really does have.
Since Musk has placed his unsolicited bid for Twitter on hold , more than $17 billion has been wiped off the company’s value. He failed to notify the SEC (Securities
& Exchange Commission) that he’d surpassed the 5% threshold before adding to his holdings and then launching his $44 billion bid .
This isn’t the first time that Elon Musk has sought to circumvent SEC guidelines . Yet he’s seen as a visionary and the consummate businessman who’s above reproach. Wall Street built up a facade around Musk , just like they did with Michaek Milken (famed junk bond trader), Jordan Belfort (Wolf of Wall Street), Donald Trump and Stanley Greenberg (AIG).
America’s fascination and their being beguiled by billionaires. celebrities and dumb politicians will ultimately lead to the country’s downfall.
What are your thoughts on Elon Musk now being under investigation by the Federal Trade Commission as well as by the Securities & Exchange Commission ? Musk is nothing more than a snake oil salesman .
Below is some food for thought concerning Elon Musk.
Elon Musk’s bid has been placed on hold . He’s now under investigation by both the Federal Trade Commission , Securities & Exchange Commission (SEC). The SEC has sent Musk a formal letter seeking a response for his failure in following strict guidelines with regard to the build up of his stock in Twitter and failure to advise once he’d reached and then surpassed the 5% threshold.
Twitter has roughly 215 million users globally in comparison Facebook’s 2.2 billion.
A lawsuit is going to be filed by shareholders in Twitter . If Musk does abandon his bid for the company it’s going to cost several million dollars. His consortium of partners are losing money . Musk has tanked the shares of Twitter and is now making excuses to why he’s now placed his bid on hold , claiming their (Twitter) use of bots pushes up content and volume usage .