Elon Musk biography reveals how he turned down $5billion offer from FTX fraudster Sam Bankman-Fried who wanted to invest in Twitter: ‘My bulls**t detector went off’
Elon Musk turned city a $5billion offer from FTX ‘fraudster’ Sam Bankman-Fried who was determined to be part of his Twitter takeover, his new biography reveals.
In April 2022, Musk launched his Twitter takeover in a bid to rid it of what he perceived to be an inherent left-wing bias. He was searching for traders to assist the deal, and acquired a $1billion dedication from his pal Larry Ellison.
Sam Bankman-Fried – the alleged conman awaiting trial for one of many largest monetary frauds in US historical past – was keen to change into concerned.
Although he’d by no means met Musk, he contacted his banker, Michael Grimes, together with William MacAskill, asking them to arrange a gathering.
Elon Musk turned down an offer from Sam Bankman-Fried, who provided $5billion and a plan to combine blockchain into the brand new Twitter, in Could 2022
In accordance to Musk’s new biography launched at the moment, he did not agree with Bankman-Fried’s perception that Twitter might function efficiently on blockchain.
Ultimately, SBF texted him instantly telling him he would convert the $100million in Twitter shares that he owned right into a stake in the brand new firm as soon as Musk took it personal.
‘Actually enthusiastic about what you will do with TWTR,’ he stated, earlier than providing to ‘roll’ the shares.
Walter Isaacson’s new biography, Elon Musk, was printed at the moment
In accordance to the biography, Musk replied: ‘Sorry, who is sending this message?’
SBF then apologized and launched himself, however it did nothing to tempt Musk in direction of his offer.
‘You are welcome to roll,’ he replied.
In Could 2022, nonetheless keen to get in on the deal, SBF referred to as Musk to plead his case.
‘My bulls**t detector went off like purple alert on a Geiger counter,’ remembers Musk in the biography.
‘He was speaking like he was on pace or Adderall, a mile a minute.
‘I believed he was supposed to be asking me questions in regards to the deal, however he stored telling me the issues he was doing.
‘And I used to be pondering, “dude, calm down.”‘
Biographer Walter Isaacson writes that the sensation was ‘mutual’.
‘Bankman-Fried thought Musk appeared nuts. The decision lasted a half-hour and Bankman-Fried ended up neither investing nor rolling over his Twitter inventory,’ he writes.
The highest traders, in the tip, have been Ellison, Sequoia Capital, crypto change platform Binance, a Dubai-based fund and a Qatari-fund.
A part of the deal to safe the Qatari funding was that Musk would attend the ultimate of the World Cup.
He was photographed on the occasion together with Jared Kushner. SBF is at present in custody in New York Metropolis awaiting trial.
He’s charged with swindling $8billion from prospects and traders of his now defunct crypto change platform FTX.
Elon Musk biography reveals how he turned down $5billion offer from FTX fraudster Sam Bankman-Fried who wanted to invest in Twitter: ‘My bulls**t detector went off’ www.dailymail.co.uk 2023-09-12 17:18:32
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