According to recent reports provided by Semafor, Sam Bankman Fried owns a stake in Twitter that is worth $100 million. Read the entire article to learn more about this news piece.
About the stake
When Elon Musk proposed a deal to buy Twitter for $44 billion, he had contacted Bankman Fried asking him to roll over his public Twitter shares into a stake in Elon Musk’s privately held company. After this, as per the reports provided by Semafor, Fried said that he supports Musk’s plans for Twitter but he would not be able to invest new money in Twitter. After all this got published, Elon Musk denied all of this calling Bankman Fried owning a large stake in Twitter false.
“Man, everyone including major investment banks — everyone was talking about him like he’s walking on water and has a zillion dollars, and that was not my impression,” Musk said. “That dude is just — there’s something wrong, and he does not have capital, and he will not come through. That was my prediction.”
There was also conversation between Musk and SBF regarding SBF also considering to buy Twitter and that he will contribute $8 to $ 15 billion for Twitter’s purchase but then Bankman backed out of this acquisition.
Since then, Musk has repeatedly dissed Bankman-Fried on Twitter. Earlier this month, Musk said on Twitter Spaces that his “bullshit meter was redlining” when he first met the FTX founder.
About Sam Bankman Fried
Sam Bankan Fried is the founder and former CEO of FTX which is a crypto exchange platform. This platform went bankrupt recently and as soon as this happened, SBF decided to resign from his post. “I didn’t mean for any of this to happen, and I would give anything to be able to go back and do things over again. You were my family,” he said. “I’ve lost that, and our old home is an empty warehouse of monitors. When I turn around, there’s no one left to talk to.” is what he said to his employees. FTX now has new CEO, John Ray.
About Elon Musk
Elon Musk, the richest man on the planet has now acquired Twitter and the rumored deal that was going with SBF is now history. The billionaire is making use of his control of the company by bringing a change in the policies and firing half of the staff. He has also reinstated the banned accounts of some of the most famous people.