Elon Musk said on Monday if he gets Twitter, the board of directors will not be compensated.
"The board's salary will be $ 0 if my application is successful, so that's ~ $ 3M / year saved right there," Musk tweeted.
It is not yet clear who will be elected to the Twitter board of directors headed by Musk. According to a SEC submission, Twitter currently spends approximately $ 2.9 million on stock and stock articles for board members. Managers do not receive additional compensation for their positions, so payments to CEO Parag Agrawal and former CEO Jack Dorsey are not included.
The CEO of Tesla and SpaceX was in tears over Twitter. Musk tried to buy Twitter for $ 43 billion after owning more than 9% of the company's assets. In response, Twitter adopted a short-term shareholder rights program, called the “poison pill,” in an effort to avoid possible malicious acquisitions. Musk may be considering awarding tenders to Twitter shareholders to control the company.
A senior official urged that Twitter should be "transformed" into an independent organization in order to function as a platform for free speech. He also said the interests of Twitter board members "are not in line with shareholders," and that the board "probably has no shares" in the company.
