© Reuters. Elon’s Twitter Offer Is a “Hostile Takeover,” Says Doge Co-founder
- Tesla (NASDAQ:) CEO Elon Musk, the world’s richest man, has bid to buy social media giant Twitter (NYSE:).
- co-founder Jackson Palmer slams Elon Musk’s unsolicited offer of $43 billion.
- Palmer says any type of space with the world’s richest man launching is a hostile takeover.
Dogecoin Co-founder Jackson Palmer criticized centibillionaire Elon Musk’s unsolicited offer to buy social media giant Twitter for $43 billion.
Palmer argued that associating any type of space with the world’s richest man launching a hostile takeover of Twitter takes “some pretty impressive mental gymnastics.”
It takes some pretty impressive mental gymnastics to associate any type of “freedom” with the richest man in the world initiating a hostile takeover and forcing one of the largest public social media platforms private.
— Jackson Palmer (@ummjackson) April 14, 2022
Musk’s controversial offer was predicted by many analysts after he obtained a 9.2% passive stake in the firm, becoming its largest shareholder. The SpaceX CEO backed away from his plan to join Twitter’s board of directors in order not to limit his maximum stake to 14.9%.
Some people believe that he is the last person who should take over one of the most influential social media companies due to his track record of juvenile online harassment.
In July 2021, Palmer lashed out at the crypto community in a viral tweet, claiming that the industry is controlled by a powerful cartel of wealthy figures. The Dogecoin co-founder said that he would no longer be concerned about any crypto-related topics after parting cryptocurrency ways with the toxic community back in 2015.
I am often asked if I will “return to cryptocurrency” or begin regularly sharing my thoughts on the topic again. My answer is a wholehearted “no”, but to avoid repeating myself I figure it might be worthwhile briefly explaining why here…
— Jackson Palmer (@ummjackson) July 14, 2021
In May, Palmer criticized Musk, one of the key supporters of Dogecoin, as a self-absorbed grifter.
Jackson Palmer and Billy Markus established Dogecoin in 2013 as a joke, poking fun at the nascent crypto industry by using the “DOGE” meme. Since then, the original meme coin has gathered a massive following online and become the eleventh-largest cryptocurrency by market capitalization at $19.06 billion.