Silicon Valley Bank, Elon Musk does not rule out the idea of buying it
Elon Musk is “open to the idea” that Twitter buys Silicon Valley Bank, which went bankrupt suddenly on Friday. On Twitter about the failure, in fact, in response to a user who proposed that the social network buy the bank, the billionaire replied: “I’m open to the idea.”
The billionaire has responded to a suggestion by Min-Liang Tan, CEO of Razer, which sells gaming computers, that “Twitter should buy Svb and become a digital bank”. Other users have also expressed their support for the proposal.
Musk, who helped launch PayPal bought Twitter for $44 billion in late October. Its goal is to add payments to the platform, which the SVB acquisition could presumably help.
Not everyone has been thrilled with the idea that Musk has another distraction. Tesla investors, in particular, have not taken kindly to the fact that he has sold billions of shares in the company to finance the acquisition of Twitter. In December, Leo Koguan, a major shareholder, called for a change of leadership, tweeting: “Elon left Tesla and now the company does not have an operating CEO. Tesla needs and deserves to have one who works full time”. After the tweet about the possible purchase of Svb, another Tesla investor commented: “So he sells another $20 billion of Tesla stock? No thanks!”
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