Elon Musk Confirms Bankman-Fried Owns 0% of Twitter Dismissing Reports Claiming a $100M Stake
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The CEO of Tesla and the head of Twitter, Elon Musk, has clarified that Sam Bankman-Fried, the former CEO of the collapsed crypto exchange FTX, does not own a share of Twitter. This followed an article published by a Bankman-Fried-backed publication that suggested Musk took $100 million from a former FTX executive.
Elon Musk on SBF’s alleged investment on Twitter
Elon Musk has clarified that Sam Bankman-Fried (SBF), founder and former CEO of FTX, currently owns 0% of Twitter.
The confirmation followed an article Wednesday by Bankman-Fried-backed Semafor that reported SBF owns a $100 million stake in the social media platform. The article claimed to have obtained a private text message between Musk and Bankman-Fried as proof of the stake.
Semafor debuted on October 18th, just a few weeks before the FTX collapse began. The crypto exchange filed for Chapter 11 bankruptcy on November 11 and SBF resigned as CEO.
Musk tweeted on Wednesday: “Semaphore is owned by SBF. This is a huge conflict of interest in your reporting.” Responding to the publication’s editor who claimed he took money from SBF, Musk tweeted:
As I said, neither I nor Twitter invested from SBF/FTX. Your article is a lie.
The editor of the SBF-supported publication tweeted the text message in question on Thursday. In the text message, Bankman-Fried claimed to own more than $100 million in Twitter (TWTR) stock, which she would like to “roll” if possible. Musk responded with the usual response he gives to all Twitter shareholders. “You’re welcome to roll,” he wrote. However, the text message does not confirm whether the event has taken place.
A Semaphore reporter saw the text message as confirmation that Bankman-Fried definitely owns a $100 million stake in Twitter, and did so when Musk bought the social media company in late October and took it private.
Musk responded by clarifying that all public shareholders of the social media company were allowed to transfer their shares to Twitter as a private company. However, the Tesla boss stated that Bankman-Fried did not retract anything, so she has no stake in Twitter. “Your report made it falsely sound like he did.”
The article also claimed that Musk sent a message to Bankman-Fried and “invited him to make a $100 million bet.” However, it appears from the text message that SBF sent the text message to Musk and Tesla’s CEO didn’t even know who the text message was from.
Many people on Twitter agreed with Musk that the text message does not prove that SBF actually transferred shares to Twitter, a private company. One user described:
Sounds like him [Elon Musk] didn’t really know who he was talking to and just gave the same answer he gave publicly – that the big shareholders could transfer their shares to the new business. Musk has also denied that this ever happened.
Twitter users also attacked the SBF-backed publication for its conflict of interest. “It’s absolutely wild how they attack a FOLLOW near SBF but then leave him untouched or barely scratched with a small criticism that needs to be re-read 3-4 times before it sounds like a criticism,” one commented. Another user asked: “How much money did Semafor take from SBF and what was included in the funding agreement? That seems important.”
What do you think of the SBF-backed publication claiming that Bankman-Fried gave Elon Musk $100 million despite Musk repeatedly saying he didn’t? Let us know in the comments section below.