Musk says Twitter board salary will be '$0' if he acquires the company
Twitter spends about $2.9 million in cash and stock per year to award its eleven board members
By Arghyadeep Dutta
Published - Apr 18, 2022, 11:05 PM ET
Last Updated - Feb 22, 2024, 01:03 PM EST
Musk tweeted Elvis Presley’s song ‘Love Me Tender’ after Twitter opted for ‘poison pill’ plan
Elon Musk on Monday took a swipe at Twitter Inc’s (NYSE: TWTR) board and said he wouldn’t pay salary to the board of directors if he acquires the social media company.
“Board salary will be $0 if my bid succeeds, so that’s ~$3M/year saved right there,” Musk tweeted.
The comment comes days after Twitter adopted a limited duration shareholder rights plan in an effort to protect itself from a potential hostile takeover.
