The Musk Twitter war is not of that much interest to me as I do not use that media for anything, however, it did pique my interest to take a look at whom owns the company and whether they are being benefited or screwed by the board of directors which appears to be fighting off ownership by (hostile as perceived by the board) stock takeover.
Here is the overall picture on ownership.
https://finance.yahoo.com/quote/TWTR/holders
What is interesting to me is that while company employees (insiders) might own a total of about 12% of the stock, the actual board of directors making decisions that may benefit or destroy company stock value
, owns nearly zero stock, that is to say their agenda appears not driven in the least by stock value to the investors. From what I have been reading, Jack Dorsey holds about 2.5% of stock and ALL the rest of the board in aggregate less then 2%, some literally own 30 shares, probably just enough to get all the notices that are issued.https://investor.twitterinc.com/corporate-governance/board-of-directors/
This is interesting to say the least, since it begs the question as to what the board is there for?
I leave to you forming your own conclusions. It would seem to me as an outside observer, that the media seems to have some effect on the younger voting demographic and maybe this is all the board was interested in.
Time will tell if the company will survive or if it will be just another dotcom flash in the pan.
UPDATE 25 April 2022
Looks like the board accepted the purchase. All hail, Elon the new private owner of Twitter. I sure hope he is able to turn it into a monetized platform and is not thwarted by the crazier of the employees (I have no metric for what percentage are crazy
, but we will surely see the repercussions soon).Discover more from The Anti-Idiotarian Rottwiler
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