'Twitter Acquisition Offer' Musk Criticizes Zuckerberg: The Reason Behind It

[Image source=Reuters Yonhap News]

[Asia Economy New York=Special Correspondent Joselgina] Elon Musk, CEO of Tesla who is attempting to acquire Twitter, attacked Mark Zuckerberg, CEO of Meta Platforms, the parent company of Facebook.

Market Insider reported on the 15th (local time) that Musk compared Zuckerberg to Louis XIV, the absolute monarch who established the French absolute monarchy, criticizing his ownership structure.

At the global lecture platform 'TED' event held in Vancouver, Canada the previous day, Musk was asked whether there would be a conflict of interest if he, who has over 80 million followers, acquired Twitter, and he mentioned Zuckerberg.

He said, "Regarding social media ownership, Zuckerberg owns Facebook, Instagram, and WhatsApp. Zuckerberg XIV still has a share structure that allows him to control these companies," and claimed that if he acquired Twitter, "that would not happen."

Zuckerberg currently holds 55% of Facebook's voting shares.

However, Insider added that Musk holds 17% of Tesla's shares and effectively has veto power, meaning he can influence Tesla as much as Zuckerberg can.

Earlier, Musk proposed an acquisition to Twitter's management, offering a purchase price of $54.20 per share. This amounts to a total of $43 billion (approximately 53 trillion won).

At the event the previous day, when asked if the Twitter acquisition was possible, he said, "I'm not sure," but added, "I have enough wealth, and if possible, I can (acquire it)." When asked if he had a Plan B if Twitter rejected his offer, he replied, "Yes."

This content was produced with the assistance of AI translation services.