Sam Bankman-Fried was reported to own a $100 million stake in Elon Musk’s Twitter. Musk says that’s a lie.

Sam Bankman-Fried, left, and Elon Musk.

Elon Musk said neither he nor Twitter have ever taken an investment from Sam Bankman-Fried or FTX.
Musk is refuting a recent report from Semafor, calling it “a lie.”
Semafor had earlier reported that Sam Bankman-Fried had a stake in the newly private Twitter.

Elon Musk is denying that embattled FTX founder Sam Bankman-Fried or FTX own shares of Twitter since the Tesla CEO took the company private, refuting a recent report from Semafor.

On Tuesday, Semafor reported that the Tesla CEO had texted Bankman-Fried on May 5, inviting him to roll over his public Twitter shares into a stake in Musk’s privately-held company, a few weeks after Musk offered to buy Twitter for $44 billion.

“As I said, neither I nor Twitter have taken any investment from SBF/FTX,” Musk tweeted on Wednesday in response to Semafor and its editor-in-chief Ben Smith. “Your article is a lie.”

“He may have owned shares in Twitter as a public company, but he certainly does not own shares in Twitter as a private company,” Musk said in a separate tweet.

Semafor reported that Musk’s text in May followed a message from Bankman-Fried in which he expressed his support for Musk’s plans for Twitter and said he wouldn’t be able to invest new money in Twitter. According to the report, the crypto founder added he had about $100 million in stock he could roll over into the deal.

Meanwhile, the Financial Times reported that an FTX balance sheet dated November 10 listed Twitter shares as an “illiquid” asset.

Spokespeople for Twitter and FTX did not respond to a request for comment from Insider ahead of publication.

Musk initially responded to Insider’s story on Semafor’s report in a tweet, calling it “False.” One person …read more

Source:: Businessinsider

Leave a Reply

Your email address will not be published.