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Saturday, December 3, 2022

SBF wanted to buy Twitter for $5 billion! Musk did not pay for “this reason”?

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The world’s richest man, Elon Musk, was sued for abandoning the acquisition of Twitter. Both parties rushed to collect evidence before the trial next month. At the same time, the lawsuit also involved Silicon Valley, Wall Street, and even some well-known figures in the currency circle. According to the briefings disclosed in the lawsuit, it turned out that the crypto-rich Sam Bankman-Fried also wanted to invest $5 billion to buy Twitter together with Musk.

“Business Insider” reported that William MacAskill, as legal counsel for Sam Bankman-Fried’s (SBF) fund FTX Future Fund, contacted Musk via text message in March this year, explaining to him that SBF was interested in acquiring Twitter, and trying to arrange the two Meet up to see if the two tycoons might buy Twitter together.

William MacAskill wrote in a March 29 newsletter,

Not sure if this is in your plans, but my collaborator Sam Bankman-Fried has been interested in acquiring it (Twitter) and making the world a better place. If you want to talk to him about potential ways of working together in this direction…

Musk then asked, “Does SBF have a huge amount of money?” According to the Bloomberg Billionaires Index, SBF’s net worth is $9.44 billion, but William MacAskill responded at the time that the FTX co-founder and CEO is worth about At $24 billion, willing to invest $8 billion to $15 billion.

However, Michael Grimes, Morgan Stanley’s head of global technology investment banking, later told Musk that SBF was only willing to contribute $5 billion. Michael Grimes also said at the time, “I’m sure you’ll like him, a super genius and industrialist like you.”

However, Musk doesn’t seem to be very interested in the deal, but why? Musk said he didn’t want to have “a tough blockchain debate” with SBF. Later, the name of SBF and his company FTX did not appear in the list of investors.

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