SME Times is powered by   
Search News
Just in:   • Committed to nurture next-gen innovation in 6G technology: Jyotiraditya Scindia  • Europe facing earlier, stronger heatwaves: Climate scientist  • India and Namibia sign two MOUs in fields of health and entrepreneurship  • PM Modi arrives in Delhi after concluding 'productive and successful' 5-nation tour  • ASEAN to keep on consensus, inclusivity: Malaysian official 
Last updated: 24 Nov, 2022  

twitter.9.thmb.jpg Former FTX CEO has no stake in Twitter as a private company: Musk

Twitter.9.jpg
   Top Stories
» Committed to nurture next-gen innovation in 6G technology: Jyotiraditya Scindia
» Piyush Goyal holds talks with Malaysian minister on review of ASEAN trade pact
» India and OPEC have a unique and symbiotic relationship: Hardeep Puri
» SIP inflows hit all-time high in June, total AUM for equity MF at Rs 74.41 lakh crore
» India set to explore over 2.5 lakh sq kms area in one of largest offshore energy efforts
IANS | 24 Nov, 2022
Elon Musk on Thursday said that Sam Bankman-Fried (SBF), former CEO of bankrupt crypto exchange FTX, does not have any share in Twitter as a private company.

Semafor publication first reported that Sam Bankman-Fried owned a stake in Musk's Twitter.

"Two weeks after clinching a deal to buy Twitter for $44 billion, he (Musk) texted Bankman-Fried just after midnight and invited him to roll the $100 million stake he had owned for a few months into a privately held Twitter," claimed the publication.

Musk denied the report, saying that "He may have owned shares in Twitter as a public company, but he certainly does not own shares in Twitter as a private company."

"As I said, neither I nor Twitter have taken any investment from SBF/FTX. Your article is a lie," Musk posted.

"Now, I'm asking again, how much of you does SBF own?" He asked the publication.

Bankman-Fried is also an investor in Semafor.

Since FTX's collapse, Musk has publicly slammed SBFAfor owning shares in Twitter.

"Everyone was talking about him like he's walking on water and has a zillion dollars," he said in a Twitter Spaces conversation, the day after FTX filed for bankruptcy. "And that (was) not my impression... there's something wrong."

In a letter to employees, Bankman-Fried wrote that he "froze up in the face of pressure" as his company collapsed, bringing its collateral down to $8 billion from $60 billion.

The former CEO apologised to the employees, saying he is "deeply sorry about what happened".

"I didn't mean for any of this to happen, and I would give anything to be able to go back and do things over again. You were my family," he wrote in the letter.

"I've lost that, and our old home is an empty warehouse of monitors. When I turn around, there's no one left to talk to," SBF added.

 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
84.35
82.60
UK Pound
106.35
102.90
Euro
92.50
89.35
Japanese Yen 55.05 53.40
As on 12 Oct, 2024
  Daily Poll
Do you think Indian businesses will be negatively affected by Trump's America First Policy?
 Yes
 No
 Can't Say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter