From the very moment that Elon Musk assumed control of social media giant Twitter, there has been controversy.
First and foremost, there has been the financial worry that hangs like a funeral pall over the entire company. Musk paid $44 billion for the site, only to suggest days later that Twitter was nearing bankruptcy.
This, in turn, led to an incredible number of layoffs – thousands of which have now prompted legal action against Twitter.
This week, Musk found himself in a new, humiliating position as well, with one of the platform’s earliest investors offering to by the site from Musk for a third of his purchase price…and threatening to withdraw his earlier investment should his offer be turned down.
An early Twitter investor appeared to mock new owner Elon Musk by threatening to sell his shares if the billionaire turns down his offer to buy the company.
Angel investor, founder, and music producer Leonidas Raisini said in the letter, posted to Twitter on Tuesday, that he was bidding to buy the company for $14.26 billion, or $18.53 per share, claiming to have secured funding for a deal.
The letter includes some of the same phrasing used by Musk in his letter to Bret Taylor, the then-chair of Twitter’s board, when he offered to buy the company in April 2022.
The language in Raisini’s offer was stern.
“As a result, I am offering to buy 100% of Twitter for $18.53 per share in cash (14.26 Billion), as I do not consider the current valuation of $41.09 Billion to be accurate. My offer is my best and final offer and if it is not accepted, I would need to reconsider my position as a shareholder and inform my fund to withdraw my investment”.
It’s no secret that Raisini doesn’t see eye-to-eye with Musk, having previously described the Tesla CEO as “a charlatan” and “a super-villain”.