{"id":5471,"date":"2022-04-24T05:37:45","date_gmt":"2022-04-24T03:37:45","guid":{"rendered":"https:\/\/costops.com\/index.php\/2022\/04\/24\/elon-musk-wants-to-own-twitter-to-protect-his-freedom-not-everyone-elses-robert-reich\/"},"modified":"2022-04-24T05:37:45","modified_gmt":"2022-04-24T03:37:45","slug":"elon-musk-wants-to-own-twitter-to-protect-his-freedom-not-everyone-elses-robert-reich","status":"publish","type":"post","link":"http:\/\/costops.com\/index.php\/2022\/04\/24\/elon-musk-wants-to-own-twitter-to-protect-his-freedom-not-everyone-elses-robert-reich\/","title":{"rendered":"Elon Musk wants to own Twitter to protect his \u2018freedom\u2019, not everyone else\u2019s | Robert Reich"},"content":{"rendered":"

Billionaires like Musk use their vast wealth to build a world unconstrained by laws, shareholders or accountability<\/p>\n

Elon Musk has now put together a $46.5bn financing package to buy Twitter \u2013 two thirds of it from his own assets, and a third from bank loans secured against Twitter\u2019s assets. It\u2019s the biggest acquisition financing ever put forward for one person<\/a>.<\/p>\n

Twitter\u2019s founder and top managers don\u2019t want Musk to take over the company. They offered him a seat on the board but he didn\u2019t want it because he\u2019d have to be responsible to all other shareholders. Now they\u2019re adopting a \u201cpoison pill\u201d to stop him. But Musk plans to buy shares directly with a tender offer that shareholders can\u2019t refuse. After all, it\u2019s a free market.<\/p>\n

Robert Reich, a former US secretary of labor, is professor of public policy at the University of California at Berkeley and the author of Saving Capitalism: For the Many, Not the Few<\/a> and The Common Good<\/a>. His new book, The System: Who Rigged It, How We Fix It,<\/a> is out now. He is a Guardian US columnist. His newsletter is at robertreich.substack.com<\/a><\/p>\n

Continue reading…<\/a>
\nBillionaires like Musk use their vast wealth to build a world unconstrained by laws, shareholders or accountability
\nElon Musk has now put together a $46.5bn financing package to buy Twitter \u2013 two thirds of it from his own assets, and a third from bank loans secured against Twitter\u2019s assets. It\u2019s the biggest acquisition financing ever put forward for one person.
\nTwitter\u2019s founder and top managers don\u2019t want Musk to take over the company. They offered him a seat on the board but he didn\u2019t want it because he\u2019d have to be responsible to all other shareholders. Now they\u2019re adopting a \u201cpoison pill\u201d to stop him. But Musk plans to buy shares directly with a tender offer that shareholders can\u2019t refuse. After all, it\u2019s a free market.
\nRobert Reich, a former US secretary of labor, is professor of public policy at the University of California at Berkeley and the author of Saving Capitalism: For the Many, Not the Few and The Common Good. His new book, The System: Who Rigged It, How We Fix It, is out now. He is a Guardian US columnist. His newsletter is at robertreich.substack.com Continue reading…Technology | The Guardian<\/p>\n","protected":false},"excerpt":{"rendered":"

Billionaires like Musk use their vast wealth to build a world unconstrained by laws, shareholders or accountability Elon Musk has now put together a $46.5bn financing package to buy Twitter \u2013 two thirds of it from his own assets, and a third from bank loans secured against Twitter\u2019s assets. It\u2019s the biggest acquisition financing ever …<\/p>\n

Elon Musk wants to own Twitter to protect his \u2018freedom\u2019, not everyone else\u2019s | Robert Reich<\/span> Read More »<\/a><\/p>\n","protected":false},"author":0,"featured_media":5472,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts\/5471"}],"collection":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/comments?post=5471"}],"version-history":[{"count":0,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/posts\/5471\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/media\/5472"}],"wp:attachment":[{"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/media?parent=5471"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/categories?post=5471"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/costops.com\/index.php\/wp-json\/wp\/v2\/tags?post=5471"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}