Judging Freedom - Musk Pushes to Buy Twitter

Episode Date: October 4, 2022

Elon Musk Proposes Closing Twitter Deal on Original Terms An agreement would allow the social-media company and the billionaire to avert a high-stakes trial that was set to start soon https://www.wsj.com/articles/elon-mus... #Musk #elonMusk #twitterSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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gentle guidance and encouragement to create these incredible changes for yourself and see what good can come from them. Trust me, listening on Audible can help you reach the goals you set for yourself. Start listening today when you sign up for a free 30-day trial at audible.com slash wonderyca. That's audible.com slash wonderyca. That's audible.com slash wonderyca. Hi, everyone. Judge Andrew Napolitano here for Judging Freedom. Today is Tuesday, October 4th, 2022. It's about 1.20 in the afternoon here on the East Coast of the

United States. We have just learned that Elon Musk, that Elon Musk has apparently had enough of his own litigation to persuade a judge in Delaware to abrogate the contract he signed with Twitter to buy Twitter. In other words, he's going to withdraw his complaint and the litigation will be over if Twitter will sell him all their shares at the original agreed-to price. So just by way of background, after hemming and hawing, going back and forth and on again and off again, Twitter and Musk agreed that he would acquire 100% of the shares of Twitter for $54.20 a share, which comes to, are you ready for this, $44 billion in cash. He then began making noises like he didn't want to do it. He wanted to change his mind.

He changed his mind because he claimed that Twitter had phantom accounts, that they weren't as wealthy as they said they were. And then Twitter sued him to force him to comply with the contract, and the judge started a rule against him. I misspoke a few seconds ago when I said he would withdraw his complaint. It is not his complaint. It is Twitter's complaint. He would offer to settle the litigation with Twitter by paying the $44 billion in cash, which is apparently what he has now offered to do just a few minutes ago today, Tuesday, October 4th. If he does, and if Twitter accepts this, this of course will be probably the largest financial acquisition by one company of another for cash in American history because it's $44 billion. I don't know where he's going to get $44 billion in cash. He's worth a lot more than that,

but his worth is not sitting in cash somewhere. But knowing Mr. Musk, having met him a number of times in my prior life at Fox News, I'm going to guess that he has this $44 million ready to go. And if Twitter says yes, and if the judge in Delaware says yes, and if the case is over, they'll sign the settlement agreement and a check for $44 billion will be on its way to the chief financial officer of Twitter to distribute to shareholders. Now, if I may get a little personal, Mr. Musk, we have met. I'm a big fan of yours. I love your libertarian instincts. I would love to be your chief content officer. You know my brain. I wouldn't censor anything. That's the whole purpose of your buying Twitter, so everybody from Donald Trump to Bernie Sanders can say

whatever they want, whenever they want, however they want to say it. This is a great gift to the American public if you acquire Twitter, because we will have a true marketplace of ideas without sanction, without fear, without favor. I'm here for you, Mr. Musk. Justin Napolitano, judging freedom.