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© Reuters. SBF Invested $100 Million Prior to Elon Musk’s Twitter Deal
Semafor, a worldwide news analysis platform, recently brought to light vital new insights linked with Twitter CEO, Elon Musk, and the collapsed FTX exchange owner Sam Bankman-Fried (SBF).
In recent findings during SBF’s bankruptcy case, files revealed that two weeks after agreeing to acquire Twitter for $44 billion, Musk texted SBF that same night, inviting him to roll his $100 million interest in the company into a privately held Twitter.
BREAKING: Bankman-Fried was an investor in Musk's Twitter deal, his contribution amounted to $100 million.— Mr. Whale whalechart.org (@WhaleChart) November 22, 2022
Reportedly, SBF controls a substantial portion of Twitter, which is currently illiquid and heavily in debt. And Musk, who once counted SBF as a financial partner in his efforts to reinvent Twitter, now has publicly distanced from the fallen crypto tycoon. Tesla (NASDAQ:TSLA) owner even ridiculed SBF on Twitter Spaces, just a day after FTX’s bankruptcy was announced.
Musk stated:
“Everyone was talking about him like he’s walking on water and has a zillion dollars,” And that was not my impression… that dude is just — there’s something wrong, and he does not have capital, and he will not come through. That was my prediction.”
The Tesla owner’s forecast definitely proved to be right over time. SBF reportedly went from being a crypto god to being exiled overnight, losing nearly all of his fortune till day.
But, in between all the hubbub, one crucial piece of information Musk conveniently ignored to share was SBF’s investment in Twitter deal. Also, the Twitter CEO personally invited him to contribute $100 million — as previously undisclosed texts reviewed by Semafor revealed.
Consequently, SBF, whom Musk has been constantly throwing shades at, is in fact a partner in Twitter.
According to Semafor, SBF’s advisor William MacAskill approached Musk to encourage a “joint venture.” MacAskill convinced Musk that SBF was willing to spend $3 billion and later up to $10 billion for Twitter.
Moreover, according to Semafor resources, an FTX financial sheet revealed to investors FTX’s Twitter shares as illiquid.
The post SBF Invested $100 Million Prior to Elon Musk’s Twitter Deal appeared first on Coin Edition.
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