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Late Tuesday, BBC reporter James Clayton interviewed Elon Musk on Twitter Spaces. Clayton asked Musk whether he bought Twitter willingly or because the court case forcing him to sell was going poorly.
Musk did the deal because he believed he would be forced to do so legally, as we all suspected. Twitter Spaces transcript:
Clayton: So then you change your mind again, and decided to buy it – did you do that? Did you do that?
Musk: Well, I kind of had to.
Clayton: Right. Did you do that, because you thought that a court would make you do that?
Musk: Yes.
Clayton: Right.
Musk: Yes, that is the reason.
Clayton: So you were still trying to get out of it. And then you just were advised by lawyers, “Look, you’re going to buy this?”
Musk: Yes.
Twitter sued Musk in September/October last year to force him to buy the company for $44 billion, or $54.20 per share. Musk claimed that Twitter had inflated real user numbers and understated bot numbers, nullifying his obligation.
Musk then informed the SEC that he would buy the company at the price he originally set, a move most agreed was made because his legal case was weak and the trial was clearly going against him.
